Airbnb and homeowners insurance

[David Hayes]

I am in the Airbnb for 3 months now with a full house dedicated to only Airbnb, (2/2 bungalow) and I gross about $1200-$1300/month on it.  This house would rent monthly for maybe $800-$850 a month so it sounds good, BUT....

My insurance company got ahold of that Airbnb and my insurance went from $1600/ye to $2800/year because of daily rentals.  Other quotes came in at $3K+.  This means that all increased profits I might have over regular rentals, along with utility and such makes this no longer worthwhile.

I would rather do Airbnb to be honest, but does anyone have suggestions for insurance carriers (Florida) or other ways to deal with it.  staggeringly ridiculous rates and no much choice.  Once again, insurance companies rule the world.

[Michael Greenberg]

Hi @David Hayes

I was able to use my Allstate homeowners insurance and extend my plan to cover my STR's. I coupled that with a $1M umbrella policy and it was less than any other insurance I could source. Find a local agent and start a conversation.

https://www.allstate.com/home-insurance/host-advan...