If you rent out rooms through AirBNB or VRBO, you NEED to update your insurance

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Renting out rooms through AirBNB or VRBO is, like Uber, Lyft, and food delivery, a very common side hustle nowadays. And for many people, it can be very lucrative.

However, just as with about anything else in your life, you need to make sure you are insured properly.

When you rent rooms to people you don’t know who could be visiting from anywhere in the world, you increase the chances that SOMETHING could go wrong.

And if this happens because you rented out a room and your insurance company finds out, it can result in either the denial of a claim and/or the cancellation of your policy. You NEED to update your home or landlord insurance to reflect this new exposure.

What will the extra coverage cost? I don’t know for sure as it will depend on the carrier, your state, and, potentially, several other factors. Hopefully, you may well be pleasantly surprised.

Don’t rent to another guest without reviewing and making the necessary updates on your insurance.  

And make absolutely sure to get these changes in writing. Obtain updated policy declarations from your carrier before you host another guest.

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