Airbnb announced 50 new features in its system including AirCover, a top-to-bottom coverage for hosts. AirCover provides up to $1 million in damage protection and $1 million in liability coverage for hosts. This will also include deep cleaning, income loss, and pet damage protections. And the best part about this is that it is free to all hosts.
AirCover offers a 14-day filing window. It also promises fast reimbursements and an even faster service for Superhosts.
Before AirCover, Airbnb offered its Host Protection plan. Even though it offered up to $1 million in damage protection and liability coverage, there were gaps that it didn’t cover. Damages from pets weren’t part of the coverage.
Pet damage coverage is a big deal not only for hosts but also for guests. Since the pandemic started, guests have been moving with their pets, especially those who are staying for a few weeks in a property.
AirCover will cover most of the things inside the property but not boats, security cameras, and jewelry to name a few. But despite the exclusions, it’s a step up compared to the original policy that didn’t even cover furniture damage and theft.
Airbnb expects that remote work is here to stay. One of the changes noticed by Airbnb is the popularity of long-term stays. 20% of Airbnb bookings between July and September are long-term stays of 28 days or more according to its third-quarter earnings report.
Part of Airbnb’s new features is the ability to book up to a year in advance. During an interview with Chief Strategy Officer Nathan Blecharczyk, “I think the practical challenge is finding a place that is available for a month”. He added that “If you plan ahead, there’s zero problem doing that”.
The new tools were a follow-up to the “I’m Flexible” campaign by Airbnb in May. This campaign initially gave guests the chance to search for listings up to six months ahead. This feature was used more than 500 million times according to Airbnb.
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