Airbnb hosting is now standard element of insurance application

The comparison website GoCompare is to routinely ask home insurance applicants whether they are going to be Airbnb-style short let landlords.

GoCompare is the first comparison site to integrate this into the home insurance quote process.

Traditionally, standard home insurance policies do not cover commercial use of a property – such as letting a room or driveway and claims for theft would not be covered if the theft was by a guest. 

But “host insurance” is a type of insurance that can complement a home insurance policy and will provide cover for guest injuries, property loss, or damage caused by hosting activities. 

It may also include cover for fires caused by a guest, escape of water caused by a guest, accidental or malicious damage caused by a guest, or third-party property damage caused by guests.

Within GoCompare’s home insurance quote process, an option is now presented to customers to declare whether or not they let their property on a short-term basis.

Ryan Fulthorpe from GoCompare Home Insurance comments: “The sharing economy looks only set to increase with the world opening up once more – people can now share driveways, cars and even their homes, with a whole host of innovative businesses making this a feasible way for people to live more sustainably and make money. 

“While this brings lots of positives for homeowners who want to make extra cash, it’s important that the insurance side of this is considered. There would be nothing worse than making money from letting a room in your property, only to be caught out if you need to claim for damages but your policy is invalid.

“At the moment, when it comes to hosting or short-term letting a property, not many home insurance policies will cover you if you need to make a claim, so there is a potential risk for a lot of people who “host” not to have the right insurance cover in place. Which is why we felt it was important to address this during the quote process – before someone takes out a policy.”

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