Home Sharing: Do You Really Have Coverage?

Here are 3 questions you should ask when home sharing.

If you rent out your house or a room in  your house there is a good chance your personal insurance policy wont cover any damages or injuries.

What are the risks?

  • Damages to your home, property, or belongings.
  • Injuries to a guest.
  • Damages to a guests personal belongings.
  • Damage to your neighbor’s property.

Am I covered?

Check with your agent or insurance company. Many homeowners, condo, or renter’s policies exclude or limit coverage if the property is being rented out to others. Make sure to ask if your policy includes coverage for paying guests in your home or about other coverage options to make sure  you’re protected.

What if I’m a guest?

Your homeowners, renters, or personal liability insurance policy may cover you if you damage a host’s property. You may want to read though your policy or contact your insurance agent before you rent out a space. If you are renting through an app or website that offers insurance coverage, ask your insurance agent if you need that protection.