Skip to main content

Home Sharing Insurance Coverage

Home sharing is a popular and growing trend for generating extra income. Home sharing insurance from Erie Insurance helps protect you against some of the risks associated with renting out all or part of your home.

Why you need home sharing insurance

Before you put out the welcome mat and rent out your home or space in it, it’s a good idea to review your insurance coverage.  Traditional homeowners insurance may not cover the risks posed when you rent your home using a service like a home sharing website.

Most insurers consider renting out a home or part of it to paying guests to be a business. Homeowners policies usually exclude or provide limited coverage for businesses that homeowners operate out of their homes. Although some peer-to-peer home sharing websites offer liability coverage for hosts and landlords, other sites may require homeowners to provide their own coverage.

Keep in mind that the more people who are in and out of your home, the greater the risk of something happening. For instance, what if a renter becomes injured by slipping on a wet floor or falling down a flight of stairs? Or what if a frozen pipe bursts and causes water damage to a renter’s personal property, like a camera and expensive electronic equipment?

As much as you want your home sharing guests to enjoy their stay, accidents do happen, and you may be responsible for covering the resulting expenses. So let’s make sure you are protected with Home Sharing Coverage from Erie Insurance.

Home sharing coverage from Erie Insurance

Home Sharing Coverage is an affordable optional add-on to a homeowners insurance policy that can provide you with broad coverage for renters. It also covers:

  • Property damage (due to things like fire or a windstorm)
  • Theft
  • Liability claims

The coverage would be provided up to the liability limit for certain coverages on the homeowners policy, which typically ranges from $100,000 to $1 million. The average cost to add the home sharing coverage will vary on the basis of the property, its location, the type of coverage that you want and other details, but it could be as low as $40 to $60 per year.1 Because of the variables that must be taken into consideration, it’s best to check with an ERIE agent for the specifics.

The coverage is only available on the insured’s primary home and not on secondary homes, such as seasonal homes.

For property owners in the rental housing market, insurance coverage is available from ERIE through an ErieSecure Rental or Ultrapack Plus business policy.

Learn more and get a quote

If you’re considering renting out your home or a portion of your home, get in touch with a local ERIE agent to ensure you have adequate protection. Every ERIE policy comes with an ERIE agent who will give you that personal touch – coverage you need and nothing you don’t. Our agents will look out for you, so you’ll feel more prepared for whatever life might throw your way.

  • 1

    ERIE’s Home Sharing Coverage is available with an ErieSecure Home®, ErieSecure Condo® or ErieSecure Tenant® policy. It is not available in North Carolina and Virginia. See the policy for specific coverage details. Certain terms and limitations may apply. Refer to our disclaimer for additional information.