Renting out your property on a short-term rental platform can be a great source of income, but it also brings unique risks that traditional homeowner’s insurance may not cover. Most standard policies exclude business activities, which means if a guest damages your property or gets injured during their stay, you could be left paying out of pocket. That’s why it’s critical for Owner/Hosts to understand their insurance options and ensure they have the right protection in place before welcoming guests. 
The online platforms where you may list and rent home may offer some insurances, but these programs have limitations and shouldn’t be relied on as your sole coverage. The Host Guarantee, for example, is not insurance and doesn’t cover certain damages like cash theft, pets, or mold. Host Protection Insurance provides liability coverage, but only up to $1 million and with some exclusions. Depending on your property, location, and how often you rent, you may need a short-term rental endorsement on your homeowner’s policy or a specialized landlord or commercial policy.
To stay fully protected, consider working with an insurance agent who understands the short-term rental market. They can help you find a policy that covers both property damage and liability related to guest stays, including legal defense costs if a guest sues you. It’s also wise to require guests to agree to house rules and consider added protections like umbrella coverage for additional liability protection. In the end, the right insurance can help you rent with confidence and avoid costly surprises.