Insurance Solutions for Hudson Valley Airbnb Hosts

Did you know that there are more than 100 listings on Airbnb for Kingston New York.  100 + people are either renting out their homes or rooms in their homes, and they probably do not realize that their homeowner’s insurance will drop them like a hot potato if they ever found out.  And trust me, they find out.

Airbnb is cool; it opens up a whole new world to those who travel and a much welcome bump in income to those who open their homes.  Sounds like a win/win to me.  Remember, with every blessing, there is a curse, and within every curse, there is a blessing.  Increased income is the blessing; insurance headaches are the curse.  Not to worry, we can help with that.

Airbnb does offer limited coverage that is meant to supplement your existing homeowner’s policy.  Please note the use of the word LIMITED.  Limited or not, at least you have an extra cushion should disaster strike,  right?  Don’t be so sure about that.  Insurance companies don’t like risks and having unknown people have full run of your home while you are/are not there is not something they look upon with happiness.  Ask most insurance people how they feel about insuring an Airbnb, and you will see just the slightest grimace of pain cross their faces.  Very few companies in the industry have embraced the sharing economy, and that makes it difficult to ensure that you have coverage that you can use if the need arises.  

Not every insurance policy is created equal.  Some companies will still cover your home if you list it on Airbnb, but they will only cover you if you rent out for a set amount of days, and they probably require you to be in residence for the entire time you have guests.  There are insurance companies who will not cover you at all if you list on Airbnb, and there are those who simply require that you increase your coverage.  You never know what you’ll find until you ask, and once you ask, you might not be happy with the answer you receive.

Ensuring that your home has the correct coverage can be as simple as picking up your phone and dialing 845-778-2141.  Ashley, Kathy, Philip, and David are ready, willing, and able to solve all of your insurance dilemmas, and we do it with a smile.  We are Hudson Valley Agents, the Hudson Valley’s insurance superheroes!

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