Airbnb and Home Insurance. Alert!

funnysht1 on 26/04/2024 - 17:03

Hi All

This may be an alert to ppl but I Airbnb sometimes a bedroom and toilet out (but I live owner occupied in the rest of the house)and apparently usual home buildimg insurance e.g budget direct owner occupied do NOT cover.

Some companies when you apply don't even ask for Airbnb stuff etc

I asked CBA insurance and they said they only cover up to 2 unrelated ppl as Airbnb.

So it is worthwhile ppl checking their policies !

Otherwise does anyone have any recommendations for building insurance only cover in these situations?

Cheers

Home & Garden Home Insurance Insurance

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Comments

  • jv on 26/04/2024 - 17:21
    +4

    and apparently usual home buildimg insurance e.g budget direct owner occupied do NOT cover.

    And this is news to you?

    It is common knowledge and clearly stated in the policies.

  • Ozbar Gain on 26/04/2024 - 17:23
    +3

    Well, you have made your home into a business, so making sure you take out the correct cover should be a very basic step

  • Dollar General on 26/04/2024 - 17:28
    +3

    When I declared to my insurance company the meth lab I run in my shed, they said they don’t cover home businesses. Not surprised they don’t cover Airbnb too

    • AndyC1 on 26/04/2024 - 17:43

      I thought the lab was for "personal" use.

      • holdenmg on 26/04/2024 - 21:40

        I was pretty sore about the profits from a Mentholatum lab.

    • valuer on 27/04/2024 - 12:36

      Should just position it as a hobby. The only trouble then is you can't claim bikie-gang protection payments against income for tax. Well you can. For a while …

  • Kouki on 26/04/2024 - 17:34
    +2

    If you make a capital gain if/when you sell you will also be subject to some CGT

  • 87percent on 26/04/2024 - 20:27
    +1

    You AirBnB a toilet? The housing market really has gone crazy

    • paulpavs on 26/04/2024 - 21:22

      Some would say "gone to shit".

    • elgrande on 26/04/2024 - 22:07
      +1

      "The brown bungaloo" .. $87 per night.

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