12:59 PM, 4th October 2017, About 4 years ago
AirBNB is a great idea to earn cash from renting your property for short timescales, but you will need specialist AirBNB insurance to cover the risk. Don’t worry, Property 118 can help and it won’t break the bank.
Standard landlord insurance requires you to have a tenancy agreement for a minimum of six months. You don’t have that with AirBNB, so if you are depending on standard landlord insurance then you are out of luck. If you ever make a claim, once the AirBNB element is discovered, it could give the insurer grounds to cancel any claim payout.
Instead, what you need is landlord insurance that allows you to rent the property over shorter timescales. Sounds easy to get but most insurers will run a mile as it adds additional risk and they don’t cope well with that.
Property 118 offers AirBNB insurance easily and quickly. You simply have to tell us that the property is let on an AirBNB basis and we will do the rest.
Typically the annual cost to extend your landlords insurance to provide AirBNB insurance for short lets is around £20 more than a standard landlord insurance policy, so it is well worth getting the correct cover in place and safeguarding your property in the event of a claim.
Insurance is underwritten by some of the biggest names in the industry, so you can rest assured the quality is top drawer.
Any questions or queries, just let us know. If you are after a quote, fill in the form here and we will be in touch shortly.
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