When traveling for business or for pleasure, Airbnb is becoming the hottest way to pick an amazing place to stay.

Simply put, Airbnb rents unique places to stay from local hosts in almost 200 countries. Airbnb was started by three young guys named Joe, Brian and Nathan, the team was on to something.

Founded in August of 2008 and based in San Francisco, California, Airbnb is a trusted community marketplace for people to list, discover, and book unique accommodations around the world — online or from a mobile phone or tablet.

Whether an apartment for a night, a castle for a week, or a villa for a month, Airbnb connects people to unique travel experiences, at any price point, in more than 34,000 cities and 190 countries.

If you are thinking of listing your home on Airbnb, there are risk and insurance considerations:

1. Your typical homeowners coverage usually excludes coverage for damage to your “renters or boarders”

2. When you host with Airbnb, the company has a policy—the Host Guarantee—that covers for loss or damage due to theft or vandalism that is caused by an Airbnb guest up to one million dollars in the eligible countries. The policy does not cover injuries or a fire!

3. Airbnb cautions:

The Host Guarantee should not be considered a replacement or stand-in for homeowners or renters insurance. The Host Guarantee does not protect:
     • cash and securities
     • pets
     • personal liability
     • shared or common areas

Certain types of property—such as jewelry, collectibles, and artwork—have more limited protections. Hosts may want to secure or remove such valuables when renting their place, and may want to consider independent insurance to cover such items. The Host Guarantee does not protect against reasonable wear and tear. Hosts can take advantage of our system to implement a security deposit to protect against wear and tear.

4. To learn more about what is covered and how it is paid, super insurance guru’s should read more here. One provision found in the fine print matters to Merlin Law Group:

Controlling Law and Jurisdiction

These Airbnb Host Guarantee Terms will be interpreted in accordance with Irish law. You and we agree to submit to the non-exclusive jurisdiction of the Irish courts for resolving any dispute between the parties. If Airbnb wishes to enforce any of its rights against you, we may elect to do so in the Irish courts or in the courts of the jurisdiction in which you are resident.

You can’t live your life without risk, but before you make extra income renting out your home, consider whether your insurance coverage is proper. Departing from your own home and renting it out means you should change your coverage to a dwelling policy, but remember not all dwelling polices are created equal.

If you are thinking of using Arbnb for your own adventures and staying in someone else’s residence, check out these top finds in Mexico, California, and Atlanta: