Airbnb ups insurance coverage, adds one-on-one set up guidance

Airbnb is trying to remove barriers that might keep people from listing their homes in part by tripling its insurance coverage and offering free one-to-one guidance for new hosts. 

"Today, there's 4 million hosts on Airbnb, but we've seen more than 60 million people come to our hosting page, meaning they thought about hosting," Airbnb co-founder Nate Blecharczyk told FOX Business. "They haven't taken the plunge yet. And so we really want to give them confidence to become a host."

Ticker	Security	Last	Change	Change %
ABNB	AIRBNB INC.	138.82	+0.54	+0.39%

In order to do so, the company set up a new system called Airbnb Setup. For the first time, new hosts will be able to get matched with a superhost in their area who can guide them on how to list their home on the platform. Hosts can chat over audio, video or message a superhost any questions or concerns they may have throughout the set-up process. 

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Over 1,800 superhosts in over 80 countries have already signed up to help guide new hosts starting Wednesday. However, new hosts will also have access to a team of Community Support agents. 

New hosts will also have the option to have an experienced guest for their first booking. 

The company also increased its damage protection through AirCover, which launched last spring, from $1 million to $3 million. The coverage will extend beyond the home and include cars, boats as well as other art and valuables inside the home, according to Blecharczyk. 

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Blecharczyk said the odds that a home or any personal belongings will be damaged is "extremely unlikely." However, the company still recognizes that "it's a thought that every host probably has at one point or another," he added. 

"It requires a great deal of trust to allow a stranger into your home," Blecharczyk said. "We know people worry about these things, and we want to take that off the table." 

The company also simplified the process for hosts to file a claim. 

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Airbnb is also rolling out other upgrades including expanded identity verification for guests and proprietary reservation screening technology, which helps reduce the chance of disruptive parties, as part of their mission to address all the reasons someone might hesitate to list their home, according to Blecharczyk. 

The platform has also added new categories for users. Since the early days of the pandemic, Airbnb has added more than 150 upgrades to its platform. 

Most recently, Airbnb updated its platform to make total fees for homes more transparent to address complaints from customers regarding hidden fees when booking. It also improved the checkout process for guests. 

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"I’ve heard you loud and clear—you feel like prices aren’t transparent and checkout tasks are a pain," CEO Brian Chesky tweeted earlier this month. "Starting next month, you’ll be able to see the total price you're paying up front." 

Chesky added: "You shouldn’t have to do unreasonable checkout tasks, such as stripping the beds, doing the laundry, or vacuuming. But we think it’s reasonable to turn off the lights, throw food in the trash, and lock the doors—just as you would when leaving your own home."