Back in May 2022, Airbnb released a brand new insurance policy called Aircover, designed to satisfy both the hosts who open their homes and the guests who stay in them. This comprehensive policy is free with every booking and the release has been unveiled as ‘the biggest change in a decade’ for the short letting giants. But what does this mean for hosts and guests alike? Read on to find out more.
Aircover for Hosts
Aircover provides all inclusive insurance for hosts at no extra cost. In the rare event that a guest is hurt on their property, hosts can receive up to $1 million in liability insurance. For any damages to the property or valuables by guests or their pets, hosts can receive up to $1 million in damage protection. Furthermore, if property damage forces hosts to cancel future bookings, Airbnb will reimburse any income lost. Hosts have up to 14 days to report any damages and can expect reimbursement for guest damages in a similar timeframe of 14 days.
In the event that your property requires an unscheduled deep clean, Airbnb will compensate hosts for these unexpected cleaning costs. If hosts have achieved the coveted Superhost status, they can expect a dedicated support line with priority routing.
Aircover for Guests
When it comes to guests, Aircover offers protection in 4 key ways:
1. Booking Protection
In the rare event a host cancels your booking within 30 days of your scheduled stay, Airbnb will find you a similar or even better property or refund you.
2. Get what you booked
In the event that a guest discovers the listing description is not accurate about significant factors e.g. the property has fewer bedrooms than listed, then the guest has 3 days to report the issue. Airbnb will then find a similar or even better property or guests can receive a full refund. Similarly, if the property is found to be uninhabitable at check-in because of cleanliness, safety or health reasons or if the host, another person, or pet is in the space during your stay and guests were not informed, the same policy applies.
3. 24-hour safety line
In the event a guest feels unsafe on premises, they will receive priority access to specially trained safety agents who are available 24 hours a day.
4. Check-in guarantee
If guests face any issues when checking-in to their Airbnb and the host is unable to resolve the issue, Airbnb will find you a similar or better home for the length of a guest’s stay.
How can guests receive Aircover protection in case of an issue?
If an issue arises, guests must contact the host first to see if it can be easily resolved. If the issue cannot be resolved, guests should contact Airbnb within 72 hours of discovering the issue. If Airbnb find that the issue is protected by Aircover, the guest will receive a full or partial refund or be provided with a similar or better property for the remainder of their stay.
How can hosts receive Aircover protection in case of an issue?
In the event a guest has damaged your property or belongings, hosts need to submit an Aircover For Hosts Reimbursement Request at the Resolution Centre section of the website. Alternatively, if a guest has been injured whilst at your property, hosts should complete the liability insurance intake form.
Do hosts still need personal insurance when hosting on Airbnb?
Yes! Aircover is not a substitute for personal insurance although some of its features may overlap. For example, Aircover does not cover damages and losses relating to natural disasters or normal wear and tear. Everyone’s situation is different so it's best to seek advice from your insurer.
How can I stay insured when short-letting outside of Airbnb?
If you hire a property management company to manage your short-let, at the very least you should be provided with basic insurance to keep you safe whilst hosting.
Pass the Keys, for example, have partnered with SUPERHOG to support bookings across all platforms outside of Airbnb, including bookings generated through Pass the Key's new direct booking channel. It’s a cost-effective one-stop solution for trustworthy and safe property management. SUPERHOG combines the vital elements of verification, virtual security deposit, and host damages insurance to support both guest experience and client assurances of the risks involved with short let bookings. It’s a cost-effective one-stop solution for trustworthy and safe property management. The service also focuses on risk prevention and offers hosts up to £1 million of GUARDHOG insurance.
To find out more, visit this blog post.