Allstate is now offering a home-sharing endorsement in Michigan for homeowner insurance customers who rent out their homes on a temporary basis.
With participation in the home-sharing economy expected to quadruple over the next few years, Allstate said it is preparing to help customers be better protected when they choose to be home-sharing hosts.
Allstate said its HostAdvantage endorsement helps fill some of the personal property protection gaps that may exist in a typical homeowners policy for customers who occasionally rent out their homes to temporary renters.
The homeowners deductible still applies, but hosts are covered for their personal property up to $10,000 per rental period, subject to the policy terms, conditions, limitations and exclusions.
HostAdvantage protection can be added to an Allstate homeowners policy for around $50 per year.
Allstate anticipates making this protection available in additional states in 2017.
Source: Allstate
Topics Michigan Homeowners
Was this article valuable?
Here are more articles you may enjoy.
Forecasters Warn of ‘Potentially Catastrophic’ Storm From Texas to the Carolinas 
NYC Mayor Mamdani Widens Delivery-App Crackdown With Lost-Pay Lawsuit 
Alliant Latest to Sue Howden US Over Alleged ‘Smash-and-Grab’ Poaching 
Alabama DOI Report Shows Litigation Is Up, Raising Liability Costs and Rates 
