Free liability insurance for 'airbnb' property owners

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albufeiramarinaAirbnb is upping its offer in the competitive world of short term property rentals by offering its property owners free liability insurance.

The online platform that connects people seeking accommodation with those who have the space is popular in Portugal which now joins 15 other countries that the US company automatically covers with its insurance offer.

This insurance protection for hosts has been available only in the US so far and since January this year Airbnb’s clients have been covered for up to USD 1 million.

The insurance covers accidents and damage and comes into effect in Portugal today, October 22nd. Airbnb customers need take no further action.

Those offering their properties for rent can keep their existing liability insurance, should they have any, and compare cover details and prices.

The extension of this coverage to 16 countries means Airbnb covers a million properties worldwide and the management is looking at expanding the cover to the remaining 60% of its customers in other territories.

Countries covered with free insurance cover are Australia, Canada, China, France, Germany, India, Ireland, Italy, Japan, Netherlands, New Zealand, Portugal, Singapore, Spain, UK and the USA.

The vast majority of properties in Portugal that are rented out by their owners are not registered with the government despite exhortations to do so by a Secretary of State who is increasingly out-of-touch with the segment he is serving.

Property owners should register with the government, despite the incionvenience and bureaucracy, but the question remains - if there is an serious accident and the property was not properly registered for rentals, will the insurer pay out?

 

For information on Alojamento Local registration in Portugal, see the Nalle website:

http://nalle.pt/