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This is a surprisingly good article/video from a local Bay Area TV station about "promised protections for those renting their homes" with AirBnB.
According to the article: "AirCover includes $3 million worth of damage protection, $1 million in liability insurance, and a 24-hour safety line for emergencies." Yet - there is so many issues, gaps, and challenges with this. The article totally failes to get into the gaps between AirBnB cover and property insurance.
In one instance, a host "found out a convicted felon, Nicole Bell, had been running her daycare from her short-term rental in Oakland,"
In another situation: "a San Francisco family was displaced after an Airbnb guest clogged the toilet with fecal matter and baby wipes, causing major flooding....The guests had booked a one-month stay and checked out two days early, leaving water filling the home for more than 15 hours." The Result "She said they’re now $300,000 short in the cost of repairs, her continued mortgage payment despite being displaced, storage for their belongings, damaged appliances, mold testing, demolition, insurance deductibles, and lost revenue from canceled future bookings." Then ""Every time I bring them something back they say ‘Oh that’s not covered,’" Gemzer said, adding that she’s exchanged nearly 150 emails with Airbnb. "
What I found most surprising about this "we tried to send a third-party investigator to review the damage, but the Host declined, stating that her homeowner's insurance company was supporting her with the damage as well as temporary accommodation," Really? The article does not ask the pertinent question about this: Did the insured tell the insurer that this was caused by an Air BnB rental? I mean does the Claims rep watch KTVU?
A final warning in the article: ""This is not real. This is marketing. This is not a real policy. You’re not really covered. You’re certainly not covered top to bottom," she said." I really wish Insurance Journal would consider picking up where this article left off.
$300K in Damages: AibBnB Under Fire from KTVU
Thoughts?
According to the article: "AirCover includes $3 million worth of damage protection, $1 million in liability insurance, and a 24-hour safety line for emergencies." Yet - there is so many issues, gaps, and challenges with this. The article totally failes to get into the gaps between AirBnB cover and property insurance.
In one instance, a host "found out a convicted felon, Nicole Bell, had been running her daycare from her short-term rental in Oakland,"
In another situation: "a San Francisco family was displaced after an Airbnb guest clogged the toilet with fecal matter and baby wipes, causing major flooding....The guests had booked a one-month stay and checked out two days early, leaving water filling the home for more than 15 hours." The Result "She said they’re now $300,000 short in the cost of repairs, her continued mortgage payment despite being displaced, storage for their belongings, damaged appliances, mold testing, demolition, insurance deductibles, and lost revenue from canceled future bookings." Then ""Every time I bring them something back they say ‘Oh that’s not covered,’" Gemzer said, adding that she’s exchanged nearly 150 emails with Airbnb. "
What I found most surprising about this "we tried to send a third-party investigator to review the damage, but the Host declined, stating that her homeowner's insurance company was supporting her with the damage as well as temporary accommodation," Really? The article does not ask the pertinent question about this: Did the insured tell the insurer that this was caused by an Air BnB rental? I mean does the Claims rep watch KTVU?
A final warning in the article: ""This is not real. This is marketing. This is not a real policy. You’re not really covered. You’re certainly not covered top to bottom," she said." I really wish Insurance Journal would consider picking up where this article left off.
$300K in Damages: AibBnB Under Fire from KTVU
Thoughts?
