Benjamin Franklin once said "A penny saved is a penny earned!"
How true, especially if you are a host participating in the current homesharing boom. Damages to your home can prevent bookings and cut into your earnings.
In case you didn't know, Franklin helped start the first insurance company in the United States in 1752. Among his innovative ideas, he proposed home fire prevention measures and the formation of fire brigades, actions that clearly focused Americans on the need to protect their property from damage.
While building fires were the big risk in Franklin's time, new risk types are always developing. Let's consider the homesharing phenomenon.
Traditional homeowners insurance policies were designed to protect the owner from traditional risks like fire and weather. Insurance companies clearly did not anticipate owners renting out their home space over and over again for profit. In fact, traditional homeowners policies often contain specific language barring coverage for things like business property, liability from business pursuits and damages to property in rented portions of a home. Owners conducting rentals are expected to obtain a policy designed to cover the rental risk - not to depend on their homeowners coverage.
That's where Slice fits in. We understand the homesharing risk and have designed a unique policy to protect your business. While your homeowners policy covers you for traditional risks all year long, you only have to purchase Slice coverage when you need it - for each rental. At an average cost of $7.50 per night, peace of mind can be yours. Slice has also built in innovative coverages such as Infestation (think bedbugs), Accidental Damage to Electronics and even Rental Interruption Coverage, should your bookings be impacted by a covered loss. And, booking stays and even reporting claims are a snap with our user-friendly app and web page.
So, be innovative like Ben and consider using Slice to protect your homeshare business!