Specialty Insurance for Real Estate Investors: Airbnb and Landlord Insurance

Investing in real estate highlights specific insurance needs beyond what’s offered in many general policies. Two types of insurance products that many investors, landlords, and short-term rental property owners need to be aware of are Airbnb insurance and landlord insurance.

Airbnb Insurance

Airbnb insurance protects property owners who offer short-term rentals of their homes or apartments on home-sharing sites like Airbnb. Standard homeowner policies typically do not cover activities related to home-sharing, making it essential for Airbnb hosts to secure specialized coverage.

One of the main benefits of Airbnb insurance is liability protection, which covers third-party bodily injuries to guests and others and property damage to guests’ belongings that occurs on your premises. Additionally, this insurance covers damages to your property caused by guests and some policies offer loss of income coverage if your property becomes uninhabitable due to a covered loss.

Airbnb also offers a Host Guarantee that provides up to US$1 million in coverage for damage to your property caused by guests, though it is subject to terms and conditions.

However, there are exclusions to what Airbnb insurance covers. Intentional damage caused by guests is typically not covered, and normal wear and tear of the property isn’t included either. Additionally, coverage for the host’s personal property may be limited or excluded.

It’s important to inform your existing home insurance provider if you plan to list your property on Airbnb. Failure to do so could result in voiding your policy for breach of contract, making it difficult and expensive to obtain future coverage.

Zensurance.com offers affordable Airbnb insurance, helping short-term rental owners using this platform get the coverage they need.

Landlord Insurance

Landlord insurance is designed for property owners who rent out their properties long-term. It offers more extensive protection than standard homeowner policies, addressing the unique risks associated with rental properties.

Generally, a landlord insurance policy protects landlords from losses or damages to the property they own, its contents, the loss of rental income resulting from an insured loss, and any attached structures to that property, such as a shed or garage. For instance, if an unexpected event like a fire or a burst water pipe should damage your property.

In addition to liability protection, landlord insurance covers third-party bodily injuries if a tenant or visitor is injured on the property.

However, landlord insurance does not cover the tenant’s personal property. Tenants need their own renter’s insurance to cover their belongings. Routine maintenance and repairs are the landlord’s responsibility, and intentional damage by tenants is typically excluded unless explicitly covered.

Additional coverage can be included in a landlord insurance policy. For example, sewer backup coverage protects against damages from sewer backups, and overland water coverage provides protection for damages caused by flooding, excessive rain, or snowmelt.

Zensurance.com also offers landlord insurance, with flexible options to meet varied needs.

Featured Insurance Solution: Zensurance.com

Zensurance.com offers tailored solutions to meet the unique needs of real estate investors with low-cost commercial insurance starting at $19 per month. Customers can save up to 35% on their insurance and get price and coverage details in just a few clicks. Zensurance.com operates with a customer-centric approach, offering expert advice and a choice of providers.

Whether you are an Airbnb host or a landlord, securing the right insurance is essential for protecting your investment. With options like Airbnb and landlord insurance, Zensurance.com helps investors get the coverage they need.

* Please note this article contains affiliate links. We may receive compensation for referrals and purchases made through these links.