Airbnb's AirCover program provides up to $3 million in host liability coverage and $3 million in property damage protection. This sounds comprehensive until you read the exclusions, which include: cash and valuables, common areas of multi-unit buildings, damage caused by third-party service providers (your cleaners), and losses covered by insurance you already have.
Why Your Standard Policy Doesn't Cover STR
Standard homeowner's and renter's insurance policies are designed for personal residences. When you convert a property to commercial activity — which is what an STR is — you've materially changed the risk profile in a way that voids most standard policies. Many policies have an explicit STR exclusion clause. Find out yours before your first guest checks in.
The Policies Worth Knowing
Proper Insurance (formerly Proper): A purpose-built STR policy with genuine liability and property coverage. The CFD community's most-used STR insurer. Covers both guest and non-guest periods.
Steadily: Landlord insurance with STR-specific riders. Good for operators with mixed portfolios (some LTR, some STR).
CBIZ: Favored by operators with larger portfolios (10+ units) where blanket policy structures make sense.
The Coverage Stack
Minimum coverage: STR-specific liability ($1M minimum, $2M recommended) + property coverage at replacement cost + loss of income coverage (covers your STR revenue if the property is uninhabitable due to a covered event). Optional but recommended: umbrella liability policy for operators with 5+ units.
Insurance is the expense that feels wasteful until you need it once. Every CFD consulting client gets this conversation in the first session.