Do you or your loved ones suspect a scam? Report it now to the AARP Fraud Watch Network.

Reply
Frequent Social Butterfly
0
Kudos
1262
Views

Re: barriers to earning income from your home

1,262 Views
Message 1 of 3
Hi Katherine,

I don't know if you had tried calling an independent insurance agent or not, but that is what I would try and do, as they have access to different kinds of policies and coverages, with different insurance companies.
Report Inappropriate Content
0
Kudos
1262
Views
Info Seeker
0
Kudos
1262
Views

barriers to earning income from your home

1,262 Views
Message 2 of 3

AARP encourages its members to find creative ways to supplement their income.http://www.aarp.org/work/job-hunting/info-01-2009/earn_extra_money_fast....

I began thinking how can I make my house work for me. I began listing on Airbnb and had a terrific response rate. Market Place Money's recent travel episode mentioned Airbnb, VRBO and a few other alternative travel lodging sites. As I read through Airbnb's terms I decided the responsible thing to do was contact me homeowners insurance company for extended coverage. The company said it does not cover any liability in the case of my renting out the home. In fact it said I must stop or it would drop coverage. It had no insurance product to offer me. I began shopping around and have not been able to find a policy that covers liability in my case. Business insurance doesn't cover it. When I review the many ways AARP and other organizations suggest people can earn income there are risks that need to be mitigated. I want to protect my assets. Pet sitting is another way to supplement income however homeowners insurance may not cover damage or harm caused by an animal you are responsible for if that animal is not yours or you don't have coverage for pets in your policy.
Do you know of any insurance products available to homeowners renting out their rooms or homes on a temporary basis?
Katherine

Report Inappropriate Content
0
Kudos
1262
Views
Info Seeker
0
Kudos
1262
Views
2
Replies

barriers to earning income from your home

1,262 Views
Message 2 of 3

AARP encourages its members to find creative ways to supplement their income.http://www.aarp.org/work/job-hunting/info-01-2009/earn_extra_money_fast....

I began thinking how can I make my house work for me. I began listing on Airbnb and had a terrific response rate. Market Place Money's recent travel episode mentioned Airbnb, VRBO and a few other alternative travel lodging sites. As I read through Airbnb's terms I decided the responsible thing to do was contact me homeowners insurance company for extended coverage. The company said it does not cover any liability in the case of my renting out the home. In fact it said I must stop or it would drop coverage. It had no insurance product to offer me. I began shopping around and have not been able to find a policy that covers liability in my case. Business insurance doesn't cover it. When I review the many ways AARP and other organizations suggest people can earn income there are risks that need to be mitigated. I want to protect my assets. Pet sitting is another way to supplement income however homeowners insurance may not cover damage or harm caused by an animal you are responsible for if that animal is not yours or you don't have coverage for pets in your policy.
Do you know of any insurance products available to homeowners renting out their rooms or homes on a temporary basis?
Katherine

Report Inappropriate Content
0
Kudos
1262
Views
2
Replies
cancel
Showing results for 
Search instead for 
Did you mean: 
Users
Announcements
Rewards for Good announcement banner