A new insurance platform, GUARDHOG (http://guardhog.com), has launched in the UK to address the lack of  appropriate insurance for the home-sharing economy, which has grown exponentially in the last ten years, with an estimated 25% of the UK adult population sharing in some way [1].

Founded by insurance entrepreneurs, Andrew Boldt and Humphrey Bowles (also an Airbnb Super Host), the 'pay per stay' Host Cover insurance provides protection for 'Airbnb' style rentals for as little as £1 per night.  The platform is designed for hosts who have paying guests to stay which means their existing home insurance is likely to be compromised.

Andrew Boldt, Co-founder and Operations Director of GUARDHOG, comments: “The absence of appropriate insurance products is widely considered to be a barrier to the continued expansion of the sharing economy.  With  tens of thousands of people letting out their home in the UK every year, it is important that users have an insurance policy that covers them and their home. Whilst Airbnb does offer a host guarantee, it strongly encourages hosts to purchase separate insurance and GUARDHOG has now made that possible.”

GUARDHOG insurance cover, underwritten by Hiscox, includes malicious and accidental damage, theft by the guest, public liability, buildings and contents, and communal areas. The costs vary depending on the property and type of cover, but start from as little as £1 per night, and the host only pays when they have someone in their home. It dovetails with the host's existing home insurance so in the event of a claim, if their existing insurance policy declines to pay due to the presence of the guest, GUARDHOG's cover offers additional protection.

Emily Bruce-Watt, Managing Director of Air Peace of Mind (http://airpeaceofmind.com/), a management service for Airbnb lets, comments: “We often get asked about insurance but until now, haven't been able to suggest anyone as traditional insurers have not really met the demands of the sharing economy. GUARDHOG have filled a gap in the market for insurance that features cover tailored specifically to this market, and a pay per stay service which is ideal for Airbnb hosts. It's important for me to be able to provide reassurance to owners; we're managing their biggest asset and Airbnb's host guarantee is not insurance, so GUARDHOG is ideal.”

The British Insurance Brokers' Association's (BIBA),Executive Director, Graeme Trudgill, concludes: “The home sharing market has exploded in popularity over the past few years but sharers need to be able to easily source the insurance they need.  This new product from GUARDHOG, set up by experts in this field and backed by the security of Hiscox, means that sharers can continue to use their home commercially and remain protected.  This is an innovative and simple solution in a growing sector.”

For further information, please visit www.guardhog.com

-ENDS-

Editor's Notes

GUARDHOG was founded in 2016 by insurance entrepreneurs, Andrew Boldt and Humphrey Bowles in conjunction with Hiscox as a reaction to the growth in the sharing economy. The host cover insurance product includes “Airbnb” style rentals, swappers, sitters and work-space sharers and is designed to dovetail with the host's existing home and contents insurance, and can be used on an “on demand basis”.

The insurance covers malicious and accidental damage, theft by the guest, public liability, buildings and contents, and communal areas.  The costs vary depending on the property, but start from as little as £1 per night, and the host only pays when they have someone in their home. 

[1] Innovation  Foundation Nesta has estimated that 25% of the UK adult population are sharing online in some way