I have a beach house that we are hoping to put on the STR market in Port Bolivar. Besides the the AirCare coverage that Air BNB Offers, are you guys adding any STR riders to regular insurance/flood/wind? If so, what kind? Are umbrella policies the same as STR riders? Thanks
Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
2y
Holy cow @Keith Winkelmann! You absolutely need a STR policy. Aircare isn't insurance at all. It is something AirBNB offers to cover something a guest might do.
I can't stress this enough. Call a good insurance broker and see what they can find. Call Proper or Foremost and get a quote. You need a STR policy. Not a land lord, homeowers etc.
Now, there are some providers that do provide special riders they add to their home owners policies etc but look at the coverage and make sure it works.
Is your place on the water? Chances of flooding? I would expect hurricanes make some kind of appearance once in a while. You would want wind for sure. Flooding maybe.
Those aren't included in most insurance policies so if there is any chance you might have damage from either of those, then you need to add it.
An umbrella policy is a good idea overall. It isn't very expensive once you have everything else in place.
Get a specific short term rental policy. DO NOT RELY ON AIRBNB or VRBO. It isn't insurance.
Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
2y
Holy cow @Keith Winkelmann! You absolutely need a STR policy. Aircare isn't insurance at all. It is something AirBNB offers to cover something a guest might do.
I can't stress this enough. Call a good insurance broker and see what they can find. Call Proper or Foremost and get a quote. You need a STR policy. Not a land lord, homeowers etc.
Now, there are some providers that do provide special riders they add to their home owners policies etc but look at the coverage and make sure it works.
Is your place on the water? Chances of flooding? I would expect hurricanes make some kind of appearance once in a while. You would want wind for sure. Flooding maybe.
Those aren't included in most insurance policies so if there is any chance you might have damage from either of those, then you need to add it.
An umbrella policy is a good idea overall. It isn't very expensive once you have everything else in place.
Get a specific short term rental policy. DO NOT RELY ON AIRBNB or VRBO. It isn't insurance.
Real Estate Consultant · OH · Member since 2023 · 2k+ posts · 1k+ votes
2y
Aircover is not insurance in anyway shape or form. It's only "protection" for items in the house and even with that you have a million hoops to jump through for Airbnb to pay out to homeowners. Make sure you know what policy you do purchase, read all the fine print and make sure your property is truly covered as a STR!
I have a beach house that we are hoping to put on the STR market in Port Bolivar. Besides the the AirCare coverage that Air BNB Offers, are you guys adding any STR riders to regular insurance/flood/wind? If so, what kind? Are umbrella policies the same as STR riders? Thanks
Keith, don't feel bad- this is a very common point of confusion right now. AirCare is marketed like it's adequate insurance, which should be illegal in my opinion. If something really bad happens to your property while you have AirCare, you are likely going to financially suffer. It's fine to have it- but perhaps as an "extra" on top of your actual insurance policy.
I have a beach house that we are hoping to put on the STR market in Port Bolivar. Besides the the AirCare coverage that Air BNB Offers, are you guys adding any STR riders to regular insurance/flood/wind? If so, what kind? Are umbrella policies the same as STR riders? Thanks
You need to call at least three insurance BROKERS and also compare against kin.com, Proper, Steadily, and Foremost.
Rental Property Investor · Orange County, CA · Member since 2016 · 740 posts · 529 votes
2y
agreed here, don't count on Airbnb for anything--- they will rarely side with you, from my experience they favor the renter. Make sure you tell insurance agencies you have an STR- a lot of them will not cover you. So just be honest with what you have :) best of luck!