Erie Insurance offers new coverage for homeowners cashing in on the sharing economy
Customers can purchase additional protection that would apply if something were to happen to a renter or their belongings while renting all or part of the home.
"For many people, their home is their most valuable asset. Our job is to help them protect it," said
Buckel says while some peer-to-peer home sharing sites offer liability coverage for hosts and landlords, other sites may require the homeowner to provide their own coverage. Examples of losses covered include a renter who is injured by slipping on a wet floor or falling down a flight of stairs, or a burst pipe that causes water damage to a renter's personal property like expensive electronic equipment or camera.
Coverage would be provided up to the liability limit for certain coverages on the homeowners policy, which typically ranges from
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- Thinking of sharing your home through
Airbnb , VRBO or another site? @erie_insurance wants you to know this first: https://ctt.ec/e9a01 - Do you need special insurance if you're renting out your home on a regular basis? @erie_insurance says yes. Here's why: https://ctt.ec/c886Z
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