Along with Airbnb and VRBO, Booking.com is among the big players of online travel agencies (OTAs) and online hospitality marketplaces, and listing your property with them is sure to attract more guests.
But with more guest check-ins comes the increased risk of untoward incidents that might happen to your guests and your property. In this article, we’ll break down how Booking.com protects you and your property through their Partner Liability Insurance (PLI) program, and we’ll give you our top picks for the best insurance for your Booking.com vacation rental property.
Why You Need An Insurance Policy for Your Booking.com Property
As much as we try to prevent them, we have to accept the reality that accidents can happen to your property and your guests while they vacation at your Booking.com property. Rather than just cross your fingers and hope for the best, you need to take action to be prepared. The responsible thing to do as a vacation rental property owner or manager is to get an insurance policy.
As you’ll find out below, while Booking.com has its own Partner Liability Insurance plan if you list your property with them, it severely lacks complete blanket protection for you and your property. You’ll need a supplemental insurance policy that will comprehensively give you much more protection than what Booking.com already offers.
How Booking.com Protects Property Owners and Managers
Booking.com has actually just recently begun to offer their Partner Liability Insurance (PLI) plan for property owners and managers. You and your property are automatically enrolled at no additional cost once you list your home-like property with Booking.com.
The site has partnered with Zurich Insurance Group as their insurance underwriter to help protect you and your property against liability claims made against you.
Base Offering – The Partner Liability Insurance can cover you against liability claims from third-parties (guests, neighbors) for up to $1M for every reservation. So say a guest gets injured during their stay with you that’s booked through Booking.com—the PLI can cover the medical bills for you.
Primary Liability Coverage – If, heaven forbid, a guest does make a claim against you and you haven’t secured an additional insurance policy for your vacation rental property yet, Booking.com’s PLI plan is your primary liability safety net. This gives you some peace of mind that Booking.com has your back in this aspect.
Booking.com’s Partner Liability Insurance Limitations
Compared to, say, AirCover for Hosts, Booking.com’s PLI policy does fall short in a lot of aspects. First off, it really just offers liability coverage without the bells and whistles that other insurance plans offer.
One example is how damage and/or harm caused by a pet (yours or your guest’s) during their stay is not covered. Here’s another example: let’s say you were doing inspections of your property and you happened to be injured—this would not be covered under Booking.com’s plan. Another big con is that Booking.com’s PLI does not insure your in-property amenities and furnishings (like bedding and furniture, appliances, and the like) nor off-property amenities (yachts, jet skis, hot tub, etc).
Other significant exclusions include:
- Health problems caused by asbestos and lead
- Damage to your property
- Damage to impaired property
- Injury to cleaners or property caretakers
- Damage caused by fungi or bacteria
Check out their full Policy Summary and FAQs so you can get a better idea of what the policy does and does not cover.
What To Look For in a Booking.com Insurance Plan
Now that you know that you need to have your Booking.com vacation rental property holistically insured, here are several things you should find in a short-term rental property insurance.
Loss of Income – Just like for Airbnb and Vrbo, your Booking.com property should be covered for loss of income. Circumstances like sudden repairs and renovation can prevent having your property rented out. Lost income incurred during these times should be covered by your insurance policy.
Property and Contents Insurance – One of the biggest limitations of Booking.com’s Property Liability Insurance Plan is that they won’t cover any damages to your furnishings, bedding, furniture, and in-property amenities. You’ll want to fill this gap with another insurance policy so you can be sure that costs for repairs or replacement of your property’s contents can be recouped.
Liability Coverage – Every vacation rental property should have liability coverage. This way you’re covered when—knock on wood—a guest finds themselves in an accident during their stay or when guests cause damage to a third party like a neighbor.
Location-Specific Coverage – Some locations are more prone to floods, typhoons, earthquakes, and other catastrophes. You should look for an insurance plan that covers the damages incurred by natural disasters.
No Forced Entry Requirement for Damage or Theft – Most standard commercial and landlord policies require you to provide proof that your rental property was forcibly entered in the event of property damage or theft; you’ll want to find an insurance policy that won’t require this so you can be sure your Booking.com property and its contents are covered.
Best Insurance For Booking.com Vacation Rental Property
With the above in mind, you should seriously consider getting a supplemental insurance policy for your Booking.com rental property. Here are some of the best vacation rental property insurance companies you should check out:
Proper Insurance
Our top-most pick is Proper Insurance, and for good reason. Proper was founded with the very vision of tailoring policies to the unique needs of short-term rental properties like home-like stays listed with Booking.com.
Proper gets its stellar reputation for their great customer service and the fact that you can customize your insurance policy according to exactly what you need. It has aspects of homeowner, landlord, and commercial insurance policies that will comprehensively protect you and your property.
Check out our full review of Proper Insurance and visit their site for a quote!
CBIZ
CBIZ is one of the pioneers of short-term rental property insurance and they have been in the business since 2002. With their stellar track record and great customer service, you can trust that they can provide you with your Booking.com vacation rental property needs.
Check out their site here.
Foremost
Foremost is another great option for vacation rental property owners who do not live on the property they rent out. Aside from being able to customize your expanded landlord insurance policy with them, you can extend this same policy to multiple properties you own or manage.
Check out our full review of Foremost here.
AllState HostAdvantage
AllState HostAdvantage is a solid affordable option. Though it has some limitations compared to Proper and Foremost, you can still use AllState to fill some gaps in the Booking.com Partner Liability Insurance with pet liability coverage, amenities liability coverage, and property damage coverage.
Check our full review of AllState HostAdvantage here.
Final Thoughts
While it’s great that Booking.com offers Partner Liability Insurance to have your back, it’s not enough. You’re better off looking for a supplemental insurance policy that fills all the gaps and comprehensively covers you and your property like the one penned by Proper Insurance.
