MODULE 25
Platform protections have exclusions and should not be treated as complete business insurance. Both owner and operator should disclose the intended use to their respective advisers and confirm how public liability, property damage, theft, income loss and direct bookings are treated.
Disclose the exact operation to insurance advisers.
Map policies, parties, exclusions and gaps.
Maintain written evidence through renewal and change.
Give the broker or insurer the address, agreement structure, operator role, owner role, guest categories, stay lengths, platforms, occupancy, services, cleaning, staff or contractors, security devices and any direct bookings. Ask for written confirmation of the relevant cover and limitations.
Do not rely on a platform protection product as a substitute for a reviewed insurance program. Product names, eligibility and exclusions matter.
Consider property, contents, public liability, business interruption, cyber, workers or contractors, motor and professional exposures as applicable. Identify who is insured, whose property is covered, excesses, sub-limits, exclusions and claims duties.
Owner and operator policies should be reviewed together because gaps and overlapping assumptions can occur. Only the insurer or qualified adviser can confirm cover.
Create renewal reminders early enough to disclose changes and compare terms. A change in guest mix, stay pattern, services, property, technology or claim history may require notification.
After an incident, preserve evidence, protect people and property, follow policy notification requirements and avoid admitting liability without advice.
An operator tells the owner that the booking platform covers everything. A broker review reveals limitations and uninsured direct bookings. The operator replaces the claim with a written insurance matrix and makes satisfactory cover a launch condition.
Give an adviser a complete, consistent description of the operation.
Locate insurers and then obtain advice and written policy confirmation for the exact risk.
The relevant insurer or qualified insurance adviser applying the policy terms to the facts.
To identify gaps, exclusions, duplicated assumptions and responsibilities.
Material changes to the operation, risk, property, parties or claims circumstances, subject to policy and legal advice.
Owner policy and lender implications
Operator public liability
Guest and malicious damage
Theft, water, fire and loss of income
Platform versus direct bookings
Excesses, exclusions and claim evidence
Describe the exact model to a licensed broker or insurer
Ask the same questions in writing
Compare limits, exclusions and excesses
Confirm the owner’s policy position
Store certificates and renewal reminders
Broker brief
Written coverage answers
Certificates of currency
Policy schedules
Claim process
Renewal calendar
Saying “Airbnb covers it”
Failing to disclose that the operator is a tenant
Assuming direct bookings have identical protection
Choosing only on premium price
Operating while coverage questions remain unanswered