Summer is right around the corner and you know what that means – summer vacations. Vacation seekers from all over the country, and all over the Northern Hemisphere, will be hitting the road or taking a flight this summer for a little break from the everyday grind. And New Orleans is in everyone’s bucket list!

If you haven’t heard of Airbnb, read on!

The biggest factor that people take into account when booking a vacation is lodging. Some like the glamour of a fancy hotel, while others can only afford a lesser expensive drop-by motel or even youth hostel.

Popular destination hotel rates skyrocket in the summer, leaving many people looking for alternate places to stay. One alternative lodging option that is springing up all over the country is Airbnb. As a homeowner, this is a really cool service that you may want to look into to make some extra cash with very little effort.

If you haven’t heard of Airbnb, it’s a service that allows people to offer their homes to travelers for a fee, kind of like a hotel, except with the comfort and uniqueness of someone’s home. Why do travelers want to do this? It makes for an interesting story and is a lot cheaper than the typical hotel. Some people rent a room in their home for $70 a night, and some rent out their entire home for $1700 per night. It’s great way to make money and share your home with travelers.

However, the question on anyones mind when renting their home is: what if there is an accident? Who is responsible and how would I enforce any kind of monetary claims?

For example, let’s say a bachelorette party of 14 whiskey-loving ladies rents your victorian mansion to celebrate their bride-to-be, and the maid of honor uses your antique vase as a stepping stool, cracking it into a million tiny pieces.

Are you covered? In most cases, yes, but it’s important to talk to your insurance agent regarding what your insurance will cover should there be an incident.

Airbnb Insurance Facts You Need to Know:

Before listing your space on Airbnb, check with your insurance provider to ensure your rental activity is covered under your policy. While some insurance policies already include this coverage, some do not and will not protect you from lawsuits resulting from an injury to a visitor.

As of January 2015, Airbnb offers liability coverage to hosts and landlords through their Host Protection Insurance program. If you’re covered under other insurance, Airbnb’s Host Protection Insurance program will be secondary to that insurance. But, if you don’t have other insurance, Airbnb’s Host Insurance Protection program could act as your primary insurance for qualifying incidents.

As always, check with your insurance agent to be clear on what your insurance covers, but it’s comforting to know that should an accident occur, Airbnb does offer coverage options.