Insuring Your property when you do Airbnb

[Jeremy W.]

Most people are asking us: Does our current property insurance protect our home when we do Airbnb/VRBO? From everything I've read, the answer is no. Is this what you guys are finding?

We've come across this question each time we talk with a host (new or old!) and/or property owner. It seems like CBIZ and Prosper are the big names in the game, but when we've sent clients their way they have not always been responsive. So we've been trying to find a better, more personal solution.

We found a gentleman in Chicago whose run an insurance brokerage since 1991, and he seems to be one of the only local insurance brokers willing to help protect and insure properties that do Airbnb/vacation rentals. Have you come across other quality STR insurance options? We found littler, custom-package guys here www.helpsafestay.com, but we prefer to work with someone in person.

Cheers!

PS I'm not much help here with insurance questions, but I'm happy to refer you to our insurance brokerage contact in Chicago.

[Mary Aviles]

My insurance broker, Sobie Insurance, has several companies that provide insurance coverage for Airbnb rentals.  I talked to him, and he says the way these work is you secure landlord insurance like you normally do, then you add an Airbnb rider through these special companies.  He says the cost depends on the area, like all insurance policies, but they're not too expensive. My broker says he has written a few of these already, and they work well.  You can message me for his contact information. Let us know how it goes!