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Airbnb Insurance
The property investment landscape is fast-changing with the advent of Airbnb and, with that comes the advent of Airbnb insurance. With the explosive success of Airbnb, the number of property owners are finding that is far more lucrative to rent out a property by the night that to have a long-term tenant.
But there are responsibilities that will go with this new way of renting out property – we refer to none other than all-important Airbnb Insurance!
Airbnb Insurance is a no-brainer, and with South Africa boasting in excess of 13 000 listings, insurance service providers are fast stepping up and ensuring that there is sufficient cover for all eventualities.
Airbnb offers hosts a $1 million guarantee that will take the edge of the responsibility of opening up your home or premises to strangers, but be aware that this comes with a massive amount of exclusions.
Therefore Airbnb Insurance cover should be the host’s responsibility.
When a guest lobs his finger off or breaks a leg, or shocks himself with your electrics, remember that in our world we live in a hugely litigious society and it would be remiss should you not have enough cover, particularly if you find yourself slapped with a giant lawsuit.
