Allstate Launches Home-Sharing Insurance Protection in Michigan


In an effort to better protect customers who rent out their homes on a temporary basis — through services such as Airbnb or HomeAway, for example — Allstate has launched HostAdvantage, a new home-sharing protection plan available in Michigan.

“Many losses that may occur in a rental situation could be covered because home insurance is pretty broad in regards to the house itself,” says Gary Heslinga, Michigan sales leader for Allstate. “But, this type of endorsement will help protect a homeowner from unexpected costs if, for example, a home-sharing renter destroys or steals your personal belongings.”

He says with participation in the home-sharing economy expected to quadruple over the next few years, Allstate is preparing to help customers when they choose to be home-sharing hosts.

Allstate’s HostAdvantage protection, which can be added to its homeowners policy for $50 a year, works to fill some of the personal property protection gaps that may exist in a homeowners policy for customers who occasionally rent out their homes to temporary renters.

Through the plan, the homeowner’s 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.

The company anticipates making its home-sharing protection available in additional states in 2017. Under IRS rules, a homeowner may rent their primary residence for up to two weeks per year without incurring any additional taxes.

Allstate Corp. is the nation’s largest publicly held personal lines insurer, protecting approximately 16 million households through auto, home, life, and other insurance offered through its Allstate, Esurance, Encompass, and Answer Financial brand names.