Nearly 70% of rental hosts buy supplemental liability insurance

On average, property damage occurs during 5% of short-term and vacation rentals.

Renters are not operating without worry either; 10% said they have been motivated to make a rental reservation because the booking platform offered insurance, according to Generali Global Assistance. (Credit: Mark Winfrey/Shutterstock.com)

Many people will be traveling this Thanksgiving week, as Keydata reported adjusted paid occupancy and average daily rates (two indicators of consumer travel plans) are both outpacing 2019 levels.

With vacation rentals rebounding from lows brought on by the pandemic, hosts are showing concern for their property and are turning to supplemental liability insurance to cover potential losses. Generali Global Assistance reported 68% of hosts buy extra liability coverage in addition to what is offered by booking platforms. Further, hosts that have been managing properties for three or more years are 25% more likely to purchase supplemental liability coverage.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].

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