What is Airbnb AirCover & do you need more insurance?

As you navigate the journey of opening your homes to guests worldwide, understanding the insurance and protection measures available to you is crucial. Today, we delve into the nuts and bolts of Airbnb's AirCover program, examine its coverage, point out its limitations, and suggest supplemental insurance that could give you peace of mind.

Understanding Airbnb's AirCover Program

First things first, let's address the burning question: What is AirCover? In simple terms, it is a host protection program by Airbnb designed to provide a safety net for its community of hosts. Airbnb understands that opening your home to strangers might sometimes feel risky, so they've established AirCover as a protective shield, aiming to provide as much assurance and security as possible to you, the hosts.

What Does AirCover Include?

AirCover provides an impressive spectrum of protection, covering hosts for up to $1 million in damages for every booking. Let's break down the specifics:

1. Damage to Property: If a guest accidentally or intentionally causes damage to your property, AirCover has got your back. This includes everything from broken appliances to structural damage.

2. Liability Protection: Should a guest have an accident on your property and decide to take legal action, AirCover offers liability coverage. This means that if a guest slips on a wet floor, for instance, and they sue you for their medical bills, AirCover can step in and help.

3. Income Loss: If a guest damages your property to the extent where you can't host for a while, AirCover covers the lost income for the bookings you had to cancel during that period.

4. Shared Spaces: Even if you're just renting out a single room or a shared space, you're still protected by AirCover.

What AirCover Doesn't Cover

As comprehensive as AirCover is, it doesn't cover everything. Understanding these limitations is crucial to avoid unpleasant surprises:

1. Personal Belongings: AirCover does not cover loss or damage to personal property. So if a guest damages or steals a personal item, like a laptop or jewelry, it won't be covered.

2. Valuable Items: High-value items, such as artworks, collectibles, and expensive furnishings, are also not protected under AirCover.

3. Shared Areas (with limitations): While AirCover does cover shared spaces, if a guest damages a shared area in a condominium or apartment complex, you might not be covered.

4. Certain Liability Cases: If a guest suffers from issues related to pollution, mold, or certain types of diseases (like bedbugs), the liability protection does not apply.

Supplemental Insurance: What Should Airbnb Hosts Consider?

Given AirCover's limitations, it's wise to consider supplemental insurance for comprehensive protection:

1. Homeowner's or Renter's Insurance: Many of these policies provide coverage for personal property, something AirCover doesn't offer. Be sure to discuss short-term rental hosting with your insurance provider, as some policies may have exclusions.

2. Commercial Liability Insurance: This provides broader protection against liability claims, often including areas not covered by AirCover.

3. Specialty Insurance for Short-term Rentals: Some insurance providers offer specialized policies for short-term rentals, offering more comprehensive coverage tailored to hosts' needs.

In conclusion, while Airbnb's AirCover provides substantial protection, understanding its boundaries is essential. By combining AirCover with carefully chosen supplemental insurance, you can host with confidence, knowing that you have a solid safety net in place. Happy hosting!