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.
Battle Between Applied Systems and Comulate Escalates With New Antitrust Lawsuit 
Severe Convective Storms Become Costliest Insured Peril of 21st Century: Aon 
10,000 Travelers Employees Get AI Assistants Via Anthropic Partnership 
Zurich Makes £7.7 Billion Bid for Specialty Insurer Beazley 
