Vacation Rental Insurance

The insurance industry has yet to catch up with the “sharing economy.” In particular, Airbnb has made the home and rental insurance picture more complicated for both insureds and insurers. There is a definite need for agents and brokers to ask whether an insured intends to use a property for short-term rentals. If they don’t ask, insureds may not disclose—and this can have big consequences later on. Insurance companies consider Airbnb hosts to be in business—and expect to cover them that way.