Home Sharing 101

    Posted by Soules Insurance on Fri, Feb 3, 2017

    According to a 2016 report by Pew, 72 percent of Americans have used some type of shared or on-demand online service.

    As a result, you have probably heard people talk about on-demand services, including short-term vacation rentals like AirBnB and Home Away, ride-hailing apps like Uber or Lyft, shared office spaces like WeWork.

    According to the same Pew report, 11 percent of adults have used a home-sharing platform. If you decide to share your secondary home, unused apartment, or vacation condo with the public, it will be increasingly important to ensure you have sufficient insurance protection in place. Why? Because many may overlook significant liability and property exposures and therefore unknowingly put their personal finances at risk. Fortunately, there are a number of strategies and best practices that can better protect you.

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    Tags: Insurance, Home Owners, Home Sharing