Idea submitted by founding member Rob Hertert, and written by Charity Kuahiwinui

Umbrella Policy
Smart hosts focus on their properties with an eye toward minimizing any liabilities that could put them out of business. Proper Insurance made an update to one of their blogs to help hosts do just that. Besides the obvious purchase of an umbrella policy covering up to at least $1,000,000, hosts should also take a few other important factors into consideration. 

If you only carry a landlord policy, you may still have exposure since that only covers the property itself. If you don’t have a business umbrella policy and rent bikes, kayaks, canoes, or have a dog, you could be at risk. Other, more troubling issues that could arise include assault & battery, muggings, theft of guest property, invasion of privacy, and even sexual misconduct accusations. Make sure you are protected, let Proper Insurance evaluate your current policy, and let you know where the holes are.

Pest Infestation
Speaking of holes, did you know that pesky insects can infiltrate a space, unbeknownst to hosts, and wreak severe damage to property, even attacking guests and causing them egregious personal injury? Bed bugs can cost hosts hundreds of thousands of dollars in claims, so make sure your policy doesn’t have an exclusion against these types of injuries. And use a fully-zippered mattress encasement to minimize the potential of infestation.

Liquor Liability
There’s one more type of liability that’s commonly excluded in most insurance policies that can cause serious liability if triggered and that’s liquor liability. You want to be seen as a generous host and maybe even boost your ratings, but if you leave a local beer or wine for guests, you are putting yourself at risk.

If they consume it and are subsequently injured, they can make a claim. Make sure your policy either protects you against these types of claims or be sure to completely remove all alcohol from the premises after every guest checks out. For more tips on protecting your assets, check out the blog from Host2Host business affiliate, Proper Insurance.