Tuesday, September 27, 2022
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Airbnb enters journey insurance coverage market



Airbnb enters travel insurance market

The favored trip rental app Airbnb has launched a brand new journey insurance coverage providing for the visitors it serves.

Airbnb’s new custom-built visitor journey insurance coverage product is designed by the identical workforce that created the corporate’s “AirCover Host” safety product for the app’s hosts. The corporate introduced on its web site that the brand new visitor journey insurance coverage product will launch in Spring 2022.

In line with Airbnb, this new journey insurance coverage product is being designed in partnership with a “respected insurance coverage service.” The service has not but been named.

The corporate famous that over the previous month it has seen the stress and challenges caused by the Omicron variant of the coronavirus.

“As a two-sided platform, it is very important acknowledge that the Omicron spike has significantly impacted our Hosts, and we all know many misplaced out on revenue in addition to the chance to market their itemizing over the vacation season following last-minute cancellations,” Airbnb stated in a launch. “For that reason, we’re grateful that our host neighborhood as an entire has sought to supply visitors larger flexibility — with virtually two thirds of lively listings now providing average or versatile cancellation insurance policies. And lots of even went above and past their cancellation insurance policies to assist visitors over the course of this unprecedented Omicron wave that hit over the vacation journey season.”

Along with the visitor journey insurance coverage, Airbnb can be introducing a brand new “Visitor COVID Help Program” which provides reduction to visitors who’re unable to proceed with their beforehand booked reservations because of sudden journey disruptions attributable to authorities mandates. These disruptions embrace border closures and obligatory prolonged quarantine necessities.

Underneath the Visitor COVID Help Program, visitors unable to acquire full refunds beneath their hosts’ cancellation insurance policies might be supplied with a journey coupon for 50% of the price of the unrefunded portion of the reservation.

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