Air BnB Insurance

fauves

Hi guys
We are renting our own house via AirBnB in a couple of weeks, and had been in contact with our insurance company to add this to our cover. However, they have just got in contact and want to add several hundred pounds to our premium to cover us. This seems absurd given we are only renting for one week this year.

We therefore looked elsewhere, and found Belong Safe, who offer specialist complimentary insurance p/day for this sort of thing. We contacted our insurance company again just to make them aware, but they are now implying we may be uninsured for the rest of the year unless we take out their extremely expensive (several hundred pounds) additional policy.

What I would like to know is whether we should just use Belong Safe and stay with our current insurer for general home cover (given their statement of the risks) or if we should just look elsewhere entirely for a cheaper policy that encompasses all elements.

It's a tricky one because we have an unusual house (old, wonky etc. etc.) and only a few companies seem to want to insure us (one or two last time I checked).

Just looking for a bit of advice. What shall we do?

Thanks

dacouch

I would be inclined to ask your own Insurer to confirm in writing what they're telling you.

Often the frontline staff do not have much actual knowledge of Insurance and make answers up on the wing.

By asking for it to be confirmed in writing along with any restrictions etc and their explanation for it (If possible) it often makes them think properly about what they're saying. Or more likely someone with more authority and knowledge will be tasked with writing the letter.

I would not be surprised if this makes them relent

Thrugelmir

fauves wrote: »

This seems absurd given we are only renting for one week this year.

You are intending to rent this to totally strangers. As with any such arrangement there's a sizable risk.

Sally_A

During a casual conversation on a totally unrelated policy, I found that where my client lives (Listed large Georgian house, split into 8 s/c flats) 2 of the occupants were doing Air b'n'b - we happened to also be the broker on the management company, and the main contact for the management company was also my client.

Another flat contravened the Statement of fact - it was a household that bought a flat, but sublet to their nanny, so she had a city centre flat to herself when not caring for the children.

We had to frantically rebroke the property, as the holding insurer would not cover short term lets .or non owner occupied.

A simple money making idea can affect everyone else in the building.

For all you other brokers out there...I think it was Sterling that helped us out, but now they are Cov!a who knows if they will help in the future.

Cardiff26

Hi,

Admiral have started to include cover for hosts with paying guests who use Airbnb (also Wimdu, Homestay and Onefinestay users) as part of their standard home insurance product - you have to call to get a quote and let them know that you use airbnb so they can add the cover to the policy.

0330 33 35 502 (Quote HOST)
Hope this helps.