Is Waivo legit and do they pay out well?

Question

Anyone use Waivo to protect against damages during STR bookings? Has your experience with Waivo been positive?

John Underwood · Answer

Just make sure you have the correct STR insurance for your property and not a homeowners policy.

Jeremy Jareckyj · Answer

Ive never used it but I have a local PM who does and he swears by it

Tyler Divin · Answer

This is an example Truvi sent me of their Guest Journey that was required for bookings to be covered by some of their better insurance products (https://truvi.storylane.io/share/ws8egjzstevc). We didn't like the idea of our guests having to go through this journey after booking. Although I received an email from Truvi literally this morning, announcing new products and plans that don't require a guest journey, and they look promising on first glance, so we're re-examining their latest products as we speak. Here is a photo from their email announcing the new products I received this morning. I like the $0-$50,000 for $25 per listing, which includes screening (which I think costs an additional $1).

Tyler Divin · Answer

We started offering Waivo to our clients recently, but haven't filed a claim yet. We've found that some clients enjoy the peace of mind it offers. We started down the same path with Truvi but we didn't like the required client journey on the plans we liked and thought it would discourage bookings/cause guests to back out/cancel. In our opinion, Aircover is worthless for normal guest damage (stains, damaged furniture, etc). VRBO does have in-house guest damage insurance which we liked but Waivo offered more coverage for less cost so we went with that.

Mike Grudzien · Answer

Thank you Collin.

Kwame Koom-Dadzie · Answer

I'm currently with Truvi , they' ve paid twice in past, had a damage recently & now they said 30 days response ,I'll take a look at Waivo.

is Waivo integrated with PMS too?

@Tyler Divin -can you explain a bit about the problem with Truvi ( was not very clear on the client journey )

Andrew Steffens · Answer

At scale I am able to offer my PM clients damage protection of up to $1,500 (for a 3br) in lieu of collecting sec deposits. I think services like Waivo have place but I have done over 30k bookings and have had damage in less than 0.001%.

Benjamin Louie · Answer

I’ve looked into Waivo a bit. The idea of having coverage built into the booking is appealing since it makes things smoother with guests. I haven’t personally used them yet, but I’ve heard mixed things: some hosts like the peace of mind, others felt the claims process took longer than expected.

If you’re considering it, I’d suggest running the numbers compared to a traditional STR insurance policy. Waivo can be a good add-on, but it may not fully replace a more comprehensive plan depending on the property and market. Would love to hear from someone who has actually filed a claim with them, though that’s where you really see if it’s worth it.

Benjamin Louie · Answer

@Marc Shin

I’ve chatted with a few hosts about Waivo, and the general vibe has been pretty positive. Most likely that you don’t have to chase guests or get into awkward conversations about damage you just file a claim with photos, and Waivo handles the rest.

The biggest win folks mention is speed. Instead of waiting weeks, they usually see payouts come through fairly quickly, and there’s no deductible eating into it. Coverage ranges anywhere from a few hundred bucks up to $20K, so it feels like a solid safety net for worst-case scenarios.

Compared to a security deposit, hosts say it keeps guest relationships smoother, since you’re not dinging their card directly. A couple of property managers also told me Waivo has been a lifesaver when running multiple STRs because it’s consistent and easy to manage.

So, if avoiding guest drama and getting quick reimbursement sounds good, Waivo might be worth a test run.

Is Waivo legit and do they pay out well?

Is Waivo legit and do they pay out well?

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