AirBnB and Its Effects on Condo Insurance

If you own a condo in Huntington Beach, CA, you may want to occasionally rent it out with AirBnB while you’re not there. However, this could affect your condo insurance in a multitude of ways, so let us at Western Republic Insurance Services explain this situation to you.

Home Sharing Complicates Condo Insurance

AirBnB is, technically, a type of home sharing that may complicate your condo insurance policy. Temporary or one-time rentals are typically not frowned upon and may not affect your coverage if you use AirBnB occasionally or only use it once to get a little extra money.

However, if you regularly use AirBnB to generate income, your condo policy may not cover any damage caused by renters. At this point, you would need commercial insurance to protect your home because insurance providers consider this type of home sharing to be a business.

Some Facilities May Fight Against Home Sharing

Another problem your insurance might note when using AirBnB with your condo is how the condominium association reacts. Many of these groups do not allow AirBnB rentals or fight against them because they believe that they are unsafe or present a risk to others in the facility.

In some instances, your condo insurance policy may be affected because the association’s insurance policy does not cover people using AirBnB. Rather, it only covers people who own their condo, meaning that you could run into issues if your renter does damage to your home.

Protect Yourself From This Problem

If you find that your condo insurance is complicated by renting your Huntington Beach, CA with AirBnB, please contact us at Western Republic Insurance Services to learn more. Our professionals will work hard to identify the problem and will find a policy that works for you.