We're transitioning to a different model with Waivo now, where the guests pay a small fee for $1500 of coverage for damages. 

Vacant Land:    - If no improvements: you may be able to extend coverage from a Homeowners or Business policy

Lots of the known companies such as CHUBB, Cincinnati and others are using their E&S companies that aren’t regulated but the state to offer coverages where they can.  

If a law suit is filed we are not relying on the LLC for any asset protection.We use an umbrella insurance coverage for our asset protection. 

Now you’ve got maximum LLC liability coverage along with Wyoming LLC privacy.  

The comical part of the media coverage and general outlook from proponents is that somehow LESS real estate (buyer agents) = reduced fees.

You will pay a higher interest rate and need a bigger downpayment.What you need is good STR insurance with plenty of coverage to protect you.An LLC offers some protection with contract issues (like kicking someone out during their stay) vs negligence, which is what you need to watch for.

It can help safeguard your personal assets in the event of a lawsuit or liability claim that exceeds the coverage limits of your primary insurance policies.Tenant Acceptance Policy: Implementing a thorough tenant acceptance policy is crucial for selecting reliable tenants who are likely to pay rent on time, maintain the property, and adhere to lease terms.

However, I also see it as an opportunity to potentially pass on risk (maintenance/upkeep/repairs) to an Airbnb host, assuming insurance coverages work out, and/or ask for a premium on top of what I listed the unit for.

Just wondering if anyone has done this and what safeguards (contract, insurance additional coverage etc), if any, they felt were necessary, and if they've had any unexpected issues.