Is my home covered if I rent it out with Airbnb?
Last updated 17 March 2017
When your property is not your primary residence and is used as an Investment home with short-term rental arrangements in place such as Airbnb or Stayz etc, cover can be provided under our Investment Home Package as a Seasonal Rental property. Some restrictions and exclusions apply so please make sure you read the Home Insurance PDS so you’re fullly informed about these.
If you are renting out your residential home, or just part of your residential home under the Airbnb scheme or similar, it’s important you understand the following:
- Our Residential Home Package has not been designed specifically with short-term room rental and Airbnb arrangements in mind.
- Policyholders need to meet disclosure obligations such as letting CommInsure know when the property is used for business, commercial or income producing activities or going to lease all or part of the address to someone else.
- Cover is provided for the listed Insured Events such as storm, flood, fire, earthquake etc. but there are exclusions that apply in some situations you need to be mindful of. For example, when a person is at your insured address with your consent there is no cover for theft or loss or damage caused by a malicious act by a guest. You will need to have business use noted on your policy and importantly, you need to know that Legal Liability would not extend to the Airbnb guest.
You need to decide if our product suits your needs. For more information and a list of all exclusions, please refer to the CommInsure Home Insurance Product Disclosure Statement.
If you don’t feel our policy suit your needs, the Insurance Council of Australia provides an online referral service 'find an insurer' which may assist.