Member benefits
As a member of NITO, you get access to a number of benefits.
Forsikring
Medlemslivet i NITO
What insurance do I need when renting on Airbnb?
If you are going to rent out a home or apartment and use a service such as Airbnb, there are several things you should look out for when it comes to insurance. Here you will find answers to the most common questions about renting out and how you are best insured.
What insurance do I need for Airbnb rentals?
Maybe you have a free room, some beds, or rent out the entire home while you are away. What about insurance if belongings are stolen, destroyed, or the home is damaged?
Product Manager at Tryg forsikring, Jostein Kalvenes, says that they have a number of insurance claims that are seen in connection with rental and Airbnb.
- Most people go on theft and damage to contents, but if you look at how many people rent out, it's not a big problem. If you have NITO Home Contents Insurance, you are well insured if something should go wrong," says Kalvenes.
Airbnb has a good Host Guarantee that facilitates a tidy rental relationship. But the Host Guarantee isn't an insurance policy. The Host Guarantee helps you well on your way if things go wrong, but it doesn't help you with everything. Fortunately, you will get good help if you have NITO Home Contents Insurance.
Unique insurance agreement
NITO Home Contents Insurance
NITO Home Contents Insurance is among the very best on the market, with extra coverages and unlimited insurance sum at a member price - a bestseller among our members. It applies to your registered address.
Does Airbnb have its own insurance if something goes wrong?
- Airbnb doesn't have insurance, but something they call a "host guarantee". This is relatively limited and has exceptions for valuables, jewellery, art, money and securities. Airbnb clearly states on its website that the Host Guarantee is only a supplement to a home contents or rental insurance, says Kalvenes.
Is NITO Home Contents Insurance enough?
- If you have NITO Home Contents Insurance and have also purchased Tryg's rental insurance, theft, embezzlement and damage to property are covered. What is special about Tryg's rental insurance is that it covers unpaid rent and eviction, although this rarely happens in connection with short-term rentals.
Do I have to contact the insurance company before renting?
- Yes, we must be notified that you are renting out, if you have the building insured with Tryg, as this affects the risk.
What about things that are destroyed?
- Check with Airbnb to see if you can get this covered through the Host Guarantee. If you have NITO Home Contents Insurance, it also covers so-called "bad luck incidents". If it is a matter of normal wear and tear during use, this is not an insurance case.
What if the tenant has set fire to the house?
- The contents insurance applies to what you have inside the house. If the person you rent out to makes your home a total breakdown or sets the house on fire, it is a house insurance that then takes care of it. Remember that as a NITO member, you have good terms and a good price on NITO House Insurance.
