Tips for Turning Your Property into an Airbnb

Written by

Content & Digital Marketing Executive

Reviewed by

Senior Brand and Communications Manager

Renting out your property, even just for one night, brings several risks that your standard home insurance policy might not cover. This guide is designed to stop you from getting caught out to ensure that your hard-earned money from your Airbnb hustle doesn’t end up costing you more in the long run.

What might my policy not cover?

Property damage

Whether intentional or accidental, there is always a risk of guests causing damage to your home or belongings.

Theft

You can never be sure – guests may not just damage your property; they may steal items instead.

Liability issues

If a guest gets injured while staying in your property, you could actually be held liable for this, and be caught up in a web of legal issues.

Loss of income

If for whatever reason your property becomes uninhabitable, e.g. due to damage, you could lose potential rental income, on top of having to pay for the issues to be resolved.

Why standard home insurance won’t cut it

The majority of standard UK home insurance policies are designed to cover either owner-occupied or long-term rental properties only, typically excluding cover for commercial activities, such as running a business or short-term rentals like Airbnb.

This means that you run the risk of your insurance company refusing to pay out if you need to file a claim for damage or theft caused by a guest, and they will be within their right to do so as you have breached your home insurance policy.

What’s the solution?

To ensure appropriate cover for yourself and your property, we recommend using specialised short-term rental insurance.

If you’re not sure what to look for in this type of policy, here are our four must-haves:

Coverage for guest-related damage – The policy will cover both accidental and malicious damage caused by guests.

Theft protection – The policy will cover theft, even without forced entry, understanding that guests of the property will likely have keys.

Liability cover – The policy includes public liability cover to protect you if a guest were to injure themselves on your property.

Loss of income – Some policies offer cover for loss of rental income in the unlikely event of your property becoming uninhabitable.

What Homeprotect offer

Whether you’re a seasoned host or new to the Airbnb market, Homeprotect offer specialised Airbnb Host Home Insurance to keep you and your property safe.

Any tips?

Of course, having the right insurance is the most important way to protect yourself and your property.

However, here are a few tips from our team to make your hosting experience a success:

Screen your guests – Although you can never be sure, use Airbnb’s verification tools to screen potential guests to minimise risk.
Clear house rules – Be sure to establish the rules for your property from the offset and communicate them clearly to all guests to prevent misunderstandings.
Secure valuables – Remove all valuable and personal items from the property. If this isn’t possible, find a way to secure them to prevent theft and damage.
Regular maintenance – Your property should always be well-maintained to minimise the risk of accidents, injuries, and any other issues. Use our rental property checklist when preparing to let your property.

Happy hosting!

Renting out your property can be financially beneficial when done correctly, but it certainly comes with a unique set of challenges. By having the right insurance coverage, you can have peace of mind that you’ll be covered if something does go wrong.