Broadened Home-Sharing Host Activities Coverage Analysis

Summary: Home-sharing is another sharing technology similar to ride-sharing, but in this instance the insured shares his home with strangers. People arranging through an online application to rent their home or a room in their home for a short period of time; they may go on vacation and rent their home out while gone, or rent out a room or two while there for extra income. Home-sharing has evolved now where many people rent their second homes or other property they may own on a full-time basis. The sharing of one’s home on a for profit basis and the risks therein was not contemplated when the standard homeowner forms were created. In 2017, ISO added both an exclusion that clarifies that home-sharing is not covered by the standard homeowners forms, and six endorsements that do provide coverage for home-sharing. Those endorsements are discussed here. The exclusions provided by endorsement HO 06 53 02 17 are now included in the standard homeowners policies, and the HO 06 53 has since been withdrawn from use.

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