More people in the UK are generating extra income from renting out their homes during summer holidays, when major sports events are happening, or renting their driveway to commuters. But are you insured properly? It’s worth checking and if not, there is a brand new specialist company who can help. Guardhog, the sharing economy insurtech innovators, have today launched Host Cover Pro, their exciting new product for ‘pro’ Airbnb hosts and serviced apartment owners. An industry first, the new product reflects the rapidly growing landscape of homestays (short-term rentals) as more landlords utilise Airbnb to maximise their properties yield. Assured shorthold tenancies (ASTs) require numerous checks to be performed on tenants that don’t – and can’t – happen with paying guests. In response, Guardhog have created the first ‘usage-based’ insurance solution for those who are renting out properties on sites like Airbnb the majority of the time, or in between lets. Host Cover Pro is a primary product so there is no need to have existing insurance. It covers damage directly relating to the guest, namely accidental damage; malicious damage; theft by the guest; public liability – in case the guest has an accident or suffers an injury; and home-share liability – in case the guest damages a neighbouring property. And unbelievably, the price starts at 78p night. It comes with these ‘bells and whistles’ too: Humphrey Bowles, co-founder and ‘Top Hog’ at Guardhog, commented, “Home-sharing platforms have put in place many checks and balances to help the growing number of people participating on their platform, ‘share’ safely. The one thing they all have in common, though, is that they all recommend hosts have their own insurance in place.” Talking to Hosts at Airbnb HQ in London he told them “We designed Host Cover as an usage-based, pay per stay, home-sharing insurance policy. But as the industry grew, we recognised a need for those who are ‘pro’ Airbnb-ers – in other words, a primary product so there is no need to have existing insurance in place. That’s how Host Cover Pro came about. It’s innovative – and it’s exciting – we feel it reflects the changing times and addresses a genuine need out there.” A key part of the new product is that it allows hosts to sync their homesharing accounts with the platform. Guardhog are then able to automatically cover bookings without hosts worrying about remembering to put insurance in place, or keeping track of the number of days they’ve hosted. Like Loading...
Guardhog has launched Host Cover Pro a new insurance for short-term rentals. Coverage is related to specific guests, where there is no need to have existing insurance, safeguarding home owners. Starting at 78p per night, the policy covers accidental and malicious damage, theft, public and homeowner liability. The policy also covers loss of income, excessive use of utilities, replacement keys and locks, infestations, legal expenses and identity theft.