Airbnb insurance broker Pikl Insurance has partnered with online broker Quoteline Direct to offer Airbnb-style short-term letting cover to its clients.
The cover plugs the gap that currently exists in the insurance market where standard home, landlord and holiday home policies fail to cover guests and short-term lets.
Louise Birritteri, chief executive, Pikl, said: “We’re delighted to enter this partnership with Quoteline Direct.
“It is a clear sign that the key players in the industry have recognised that their clients who are operating in the sharing economy are doing so without the necessary protection they need.
“Those who believe that their standard home or landlord policies will cover them are sadly mistaken and it could be that they only discover that when then need to make a claim.”
The partnership means that Quoteline Direct will sell private home host, landlord host and landlord tenant host products to its clients who are providing short-term hosting arrangements.
Phil Stevens, product manager for home and buy-to-let at Quoteline Direct, added: “The sharing economy has blossomed in the last few years and much of the insurance industry are playing catch up.
“It’s fantastic that Pikl has not only recognised this gap in the market but that they have managed to fill it with specialist products that are tailored to the needs of sharing economy hosts, and importantly are straightforward for brokers to sell.
“We anticipate a large take up in the Pikl cover over the coming months as we approach the peak season for short-term property lets.”