Keys, Home-sharing, insurance and ibruprofen by Humphrey Bowles
The current home-sharing insurance environment can only be described as confusing, and that is before you even begin to consider the implications of keys.
I know from my experiences both as a host and working at the luxury home-sharing platform onefinestay how tricky managing keys properly is. Not only do you need multiple sets (think a minimum of 4 to give cleaners, meet and greeters, maintenance, and guests access) but every time those keys leave the confines of the heavily guarded safes, they are going to be at risk of being dropped, misplaced, left behind or being thrown out in the rubbish by an over enthusiastic cleaner. It’s easier to lose keys than keep them safe so it’s not surprising therefore that keys often go missing, and when that happens, locks must be replaced and yet more new keys issued.
Smart locks, as their name implies, are without a doubt an exceptionally smart way of solving not just this problem, but also other headaches around late check-ins’, dropping off parcels, and a myriad of other every day dilemmas. For instance, with LockSTATE’s Wi-Fi locks, you no longer give out keys and instead issue a unique time sensitive code for a set duration. This means that your guest cannot access the property before this time or after it expires. Their online portal is easy to use and you can create access codes for all your guests and regular visitors like the cleaner, handyman etc. You can also apply schedules so that the cleaner only has access in the morning, Monday to Friday. From an insurance perspective, a code is much better than a key, you cannot lose the code and once it expires it will not open the door.
Ironically though, insurance is one of the biggest problems smart locks have in gaining traction as many insurers, require a standard deadbolt to be used alongside the smart lock, which in itself, doesn’t solve the problem as you then still need keys. But not any longer… at least not when you have guests staying.
GUARDHOG have given a stamp of approval to LockSTATE WI-FI locks. It means that if you’re insuring your home through GUARDHOG when you have guests staying, you can use your smart lock, and only your smart lock, to give your guests access to your home. So after all the pain insurance has caused, who knew that it was now going to be the ‘ibuprofen’ of the keys headache in the home-sharing world.
GUARDHOG is an insuretech innovator – re-inventing and re-imagining insurance designed for the sharing economy. Offering 24/7 on-demand insurance solutions – GUARDHOG gives the service users and service providers of peer-to-peer sharing economy marketplaces the power to share safely. Co-founded by Humphrey Bowles and Andrew Boldt in 2016, GUARDHOG is a new kind of insurer for a new kind of economy.
Many genuinely believe Airbnb offer ‘insurance'. In fact if you read the small print they don’t, and they strongly encourage you to have your own insurance in place… which is where GUARDHOG comes in. With its HOSTCOVER product, GUARDHOG is already providing cover through over 50 sharing economy businesses – protecting both home sharing property owners and their guests. HOSTCOVER from GUARDHOG seamlessly replaces the parts of a normal home insurance policy that are invalidated when you share your home, and can be bought only for the nights you need it. In other words, only when you have guests to stay.
- Stuart Duncan