As much as we’d like to avoid them, cancellations are sometimes just necessary. So, does Airbnb have cancellation insurance? With Airbnb, the “hosts”, or the people who are offering their accommodations for rental, get to select from one of three cancellation terms. It’s not really a travel insurance policy per se. Airbnb lets them select from a stricter plan that only offers a partial refund for guests upon cancellation to a looser option that will enable travelers to cancel anytime for a full refund. We’ve broken down the terms of each Airbnb cancellation policy below.
So even if you book an Airbnb with a flexible cancellation policy and have to cancel your trip last minute, you’ll have to pay for the first night’s rate and the service fee. Not exactly ideal when your nightly rate was on the pricier side, right? So does travel insurance cover Airbnb? Well, most comprehensive travel insurance policies include Trip Cancellation coverage, which allows you to cancel your trip for a covered reason and get reimbursed for your trip costs (i.e. your Airbnb expenses).
For example, if you break your leg or contract COVID-19 in the days leading up to your trip and need to reschedule, your travel insurance will cover whatever money you had insured that is not given back by your Airbnb host. If something happens during your trip, causing you to cut it short, Trip Interruption coverage could apply as well. Whether your Airbnb host includes a flexible cancellation or strict cancellation term, you never know what could hinder you from enjoying your trip, so insure those costs under travel insurance.
No matter where you’re spending the night, sometimes things go awry. You sit down in a chair, for example, and one of the legs breaks. If you get physically injured or become suddenly ill while staying in an Airbnb, your travel insurance policy will likely cover the medical expenses incurred during your vacation. One important note, however, is that any further consequences of the injury may not fall under your travel insurance coverage. So if you aren’t able to go back to work right away and lose earnings as a result, for example, that would not be paid back by travel insurance.
You know the example we just talked about in which you sit down on a chair and the leg breaks? If that same leg broke because you decide to use it for firewood, you’re in a different boat. Travel insurance for your Airbnb stay is not personal liability insurance and would not provide reimbursement for the Airbnb property damage.
We wish this one were covered because it’s a bad feeling to arrive at the place where you’ll be staying to find that it looks nothing like the photos. Unfortunately, this is an issue you’d have to bring to Airbnb and a refund would not be covered by your travel insurance. That said, from what we know, Airbnb is pretty on top of it when it comes to customer service, so take pictures and get in touch with them as soon as possible.
Fear of Travel
Despite travel restrictions being lifted and businesses opening back up, some people are simply not ready to travel again due to the health risks. Unfortunately, a standard travel insurance plan won’t cover if you cancel your trip due to fear of travel or fear of contracting a virus like COVID-19. As much as we wish there was, there is no such thing as Airbnb COVID-19 insurance or coronavirus travel insurance that will cover pandemics.
However, as we stated earlier, this is another point to check out Cancel For Any Reason (CFAR) coverage, in case you still don’t feel safe to travel by the time your departure nears. It’s the most flexible type of cancellation insurance in the travel insurance world at the moment. For example, if you’ve booked a vacation rental with a “moderate” cancellation policy and decide you don’t feel safe enough with the number of COVID-19 cases in the area of your rental, you can cancel your booking and file a claim for reimbursement of the additional amount you don’t get back from the host.
If you’re looking to buy travel insurance for your Airbnb getaway, we have you covered. You can get a free instant quote to help you get started. Our team of friendly humans would be happy to help you purchase travel insurance and answer your questions, making sure you have the right coverage in hand for your trip.