Matthew, I am VERY interested in this, as I actually needed to file an insurance claim after a renter from a different platform damaged several items in our space.
My primary reason for hosting on Peerspace was originally to monetize our space during downtime between photoshoots. We have a massive live/work condo in an expensive part of LA and our overhead is so high that it was requiring me to take on quite a few unsavory photography clients in order to pay the bills and I found myself hitting a brick wall in terms of my career. I was literally working myself into an early grave.
By our fifth rental, I saw that we had something special with hosting and I began transitioning our space from a photography studio to a ‘standing set’, with more furniture and decor.
Now, rentals are becoming so lucrative that I have begun transitioning away from photography and into eCommerce sales, while hosting several times a week.
I am happier and FAR healthier, as my stress levels are going down.
Having been in business for 20 years now, I have a good perspective of the ins and outs of liability and the necessity of insurance.
I require all productions with more than five people to present me with a certificate of insurance and I also have my own insurance as well.
Recently (on a DIFFERENT platform than Peerspace) we had a crew of very disrespectful student filmmakers that damaged a number of expensive items in our space. Despite having actual footage of them roughhousing the delicate items in our space, they attempted to deny it.
This other platform did not handle the situation properly. They actually refunded the filmmakers for their unused second day of filming after I requested that they compensate us for the damaged items (their MUA spilled acetone on an $800 distressed wood table, they broke a $230 folding screen, damaged a hand painted end table, broke a step in our place, put dirty grip equipment on brand new linen couches, etc etc)
So rather than tangle with them or their insurance, I presented the footage from the security cameras to my insurance company and filed a claim with my insurance, which then went after the filmmakers’ insurance company.
So I definitely recommend to hosts that the require insurance from their renters. If hosts don’t wish to do this, then I recommend that the hosts have their own business insurance and then charge renters a security deposit equal to or greater than your deductible.
Always, your mileage may vary with these things, but it never hurts to be extra cautious!