Sharing economy platforms connect people with space to rent and people looking for a place to stay.
Guests can discover and book accommodation around the world for one night or many, whether they're travelling on holiday or for business, or both.
Sharing economy platform hosts may benefit by earning extra money, meeting new people, making use of unused space, or better use of under-utilised space. The extra income earned by some hosts may help with saving for home repairs, or funding a dream trip.
For others it could mean subsidising the cost of moving into a more desirable school catchment zone. Furthermore, renting free space using sharing economy platforms is flexible - you can rent your whole property, or just one or two rooms, for the weekend, or extended stays.
Whether its an investment property or your permanent residence, the flexibility of sharing economy platforms can enable you to make what you think is the best possible use of your space.
But what about insuring your property when you rent it out on platforms such as Airbnb, Stayz, or TripAdvisor? That’s where ShareCover comes in. ShareCover is designed to provide home and contents insurance to those who are renting out all or part of their home on a recognised platform.
What risks am I exposed to when using sharing economy platforms? Why might I need cover?