AirBnB Rentals – Offering short-term rental properties through the AirBnB app can be a great way to make extra money, but it can become costly if you don’t have the right insurance. It takes a special type of insurance to adequately protect your property in this very unique situation. This type of insurance can also be used to protect landlords who own properties out-of-town, landlords who take boarders in their own homes, and people who rent out seasonal properties.
If you’re looking to make extra money by turning your house into an Airbnb listing, it’s important to know the details of your home insurance. Creating an Airbnb turns your home into a business property. You need to manage the property: creating the listing, setting the price, taking photos, cleaning up, and managing insurance.
You need to protect your most significant investment from any risks that could cost you thousands. Airbnb has insurance coverage for hosts, but you do not want to take chances with your biggest asset. You may have home insurance but does it cover home-sharing services like Airbnb, Vacation rental by owner (VRBO), or HomeAway? By creating an income property, you’ve changed the terms of the contract with your home insurance provider.
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