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Is Airbnb Travel Insurance Worth It?

Airbnb is an online platform known for providing a way for individuals to list, discover, and book lodging accommodations along with travel experiences around the world.

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You might probably have come across Airbnb’s travel insurance offerings and wondered if their travel insurance is worth trying. If you find yourself in this speculative situation, then this post is all you need to clear the doubt.

We will carefully explain everything you should know about Airbnb travel insurance, weighing its pros and cons to determine if it is a go-to option or not.

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What is Airbnb Travel insurance?

Airbnb travel insurance is a type of insurance that is made for guests who book stays on the Airbnb platform. This policy covers risks such as trip cancellation or interruption, medical expenses, lost luggage, and trip delay. Sometimes, coverage for property damage or personal liability is also covered in the policy.

It is worth noting that Airbnb is not a standalone insurance company, but instead relies on a host of insurance companies to provide travel insurance coverage to guests. Due to this reason, its premiums and coverages might be different depending on the insurance company.

Why Airbnb travel Insurance is worth it

As per Airbnb, “Travel insurance offers to pay guests up to 100% of their Airbnb booking costs when they cancel for covered reasons”.

This means that after purchasing travel insurance from the company and you decide to cancel your booking for a covered reason (covered reasons typically include injury, illness, death, lost or stolen passport), the insurance company is promising to reimburse you up to 100% of the cost of your Airbnb booking.

What travel insurance cover

Airbnb offers two types of travel insurance: Aircover for guests, and Travel insurance through Generali and Europ Assistance. Let’s look at their meaning and what they cover.

Also read: How to Cancel AAA Insurance in 2023 (Quick Steps)

AirCover for guests

Airbnb recently introduced a program for guests known as AirCover – this plan helps protect guests from unexpected events like listing inaccuracies, missing key amenities, specific events like bad weather, stolen travel documents, and even serious illness all for free.

Let’s take a look at what these unexpected events are and the refund percentage Airbnb is ready to reimburse.

  • Listing inaccuracies: This means that if you find out that the provided listings i.e. the specific property or accommodation that was listed on the Airbnb platform are not as described, you can get up to 100% of your Airbnb reservation cost reimbursed.
  • Missing key amenities: This provides reimbursement of up to 50% of the guests’ Airbnb reservation cost if the property or accommodation is missing key amenities.
  • In addition, if you are affected by certain external factors like bad weather, stolen travel documents, and even cases of serious illness, Airbnb through its insurance partners is offering to pay you 100% of your non-refunded Airbnb reservation costs.

Travel insurance through Generali and Europ Assistance

Travel insurance is a paid travel insurance program that is available to guests in the United States, United Kingdom, and some parts of Europe (Germany, Spain, Italy, Ireland, Netherlands, Austria, and Portugal). This is done through Airbnb’s partnership with Europ Assistance Group and its U.S. subsidiary, Generali Global Assistance.

Unlike Aircover with limited coverage, Travel Insurance includes better support to cover a wider range of unexpected issues, including trip cancellation for any reason, lost or stolen passports, and flight delays.

The specific coverage offered by each type of travel insurance varies depending on the country where the guest is traveling. Here’s an overview of what Airbnb Travel insurance covers for US, UK, and EU residents.

US residents through Generali, their travel insurance policy includes:

  • Trip cancellation
  • Travel delay
  • Medical assistance
  • Baggage
  • It also includes 24/7 emergency and travel assistance services.

UK residents through Europe Assistance, their travel insurance policy includes:

  • Travel delay
  • Medical assistance
  • Baggage
  • Trip cancellation
  • 24/7 emergency and travel assistance is also included.

EU residents through Europe Assistance, their travel insurance policy includes:

  • Trip cancellation
  • Travel delay
  • Medical assistance
  • Baggage
  • It also includes 24/7 emergency and travel assistance services.
FeatureAirCover for guestsTravel insurance through Generali and Europ Assistance
CostFreePaid
CoverageTrip cancellation, lost luggage, medical expenses, and emergency medical evacuationTrip cancellation for any reason, lost or stolen passports, flight delays, and more
AvailabilityAvailable to all guests who book stays on AirbnbAvailable to guests in the United States, United Kingdom, Germany, Spain, Italy, Ireland, Netherlands, Austria, and Portugal
Quick highlight on the key differences between AirCover for guests and travel insurance through Generali and Europ Assistance

You can refer to Airbnb’s official documentation to learn more about what Airbnb travel insurance includes.

Also read: Why is AAA Insurance So Expensive? Here Are 8 Reasons

Limitations of Airbnb travel insurance

Despite the mouthwatering offers provided by Airbnb, there are still some lapses the company is unable to cover for guests. Below are some limitations.

  • Coverage limits: Airbnb has a lower coverage scope as compared to traditional travel insurance companies which have higher coverage for trip cancellation. For example, Airbnb is willing to cover a minimum cancellation fee of $50 USD and a maximum cancellation fee of $1,000 USD, whereas traditional travel insurance tends to cover up to $6,000 or more.
  • Claims process: The Airbnb travel insurance claims process can be a tiring experience, mostly due to the fact that Airbnb travel insurance is administered by a third-party company, and in that case if you want to file a claim, you may need to file a claim with both Airbnb and the insurance company responsible for your coverage.
  • Cancellation policy: Canceling your Airbnb policy is a straightforward and cheap process. But sometimes, certain situations could make this policy expensive particularly if you need to cancel your booking at the last minute.
  • Regulations: Airbnb is regulated differently in different countries. In some countries, there are restrictions on how many days a year a property can be rented out on Airbnb.

Final Verdict

Whether or not Airbnb travel insurance is worth it depends on your individual circumstances and needs. If you’re seeking basic coverage at a very low cost, then Airbnb is worth it. However, if you are looking for a more robust travel cover, or if your travel could involve high potential risk and loss, then Airbnb might not be the most ideal option for you.

Overall, Airbnb is a candid option to offer you the peace of mind, financial protection, and convenience you need for your trip.

More on Airbnb

Insurance companies that offer policies for Airbnb hosts and guests

Below are top insurance companies that offer policies for Airbnb guests.

  • AIG
  • CBIZ
  • Farmers
  • Proper
  • Obie
  • SafetyWing
  • World Nomads

Also read: Insurance for Wineries

Frequently Asked Questions (FAQs)

How much does Airbnb travel insurance cost?

The cost of Airbnb travel insurance varies depending on the length of your trip, your destination, and the level of coverage you choose.

How much does Airbnb travel insurance cost?

Airbnb’s travel insurance policies and refund policies can vary depending on the specific circumstances and the type of coverage you’re referring to.

For example, if you purchased a standalone travel insurance through Airbnb or another provider, the refundability of the insurance premium would depend on the terms of the insurance policy itself.

Can I still access Airbnb travel insurance coverage without being a resident in the US, UK, or EU?

No. Airbnb is only available for residents in the US, UK, and eight other selected EU countries.

How do I know if Airbnb travel insurance is right for me?

To know if Airbnb travel insurance is right for you, first consider the potential risks, your individual preferences, and your coverage.