What Is The Best Airbnb Insurance? Slice Vs. Proper Insurance

During one of my recent blog posts, I’ve gone over the conversation of Airbnb liability insurance. If you haven’t checked it out yet, I highly recommend doing so. Airbnb insurance is one of those odd things that can be a pain to research and set up, but are definitely worth it in the long run. I was surprised by the number of questions I received about the difference between Slice and Proper Insurance.

While both are great services, here are some differences and features that I would like to point out between the two.

Airbnb Insurance: Slice

Slice is an insurance is a newer company developed by three guys sitting around at a dinner table in 2015. Their dream was to develop a type of Airbnb insurance that would allow them to put people first.

The team at slice claims that they’re shaking things up by making insurance what it needs to be. They go so far as to claim that aim to give their customers an experience that is fast, easy, affordable, and fair.

Slice really takes the insurance game up a notch by creating a system that allows you to buy coverage only when you’re in need of it. Getting the coverage you need is super easy, it only takes a few minutes online. Their name, after all, means getting the insurance that you need for only a slice of time.

But, is this Airbnb insurance too good to be true?

According to the Slice FAQ, there’s no catch here. Getting their insurance allows you to be properly and fully covered by a commercial insurance policy for the time you requested. However, you do pay-per-use basis.

Let’s dive into things a bit deeper.

Slice – The Breakdown

Just like anything else in the world, the good comes with the bad. While Slice is a great way to get proper Airbnb insurance coverage, there are definitely some improvements that can be made.

  • Filing a claim is as simple as going into their app and contacting them through their forms.
  • The insurance that you have covers the cost of the home, any additional structures, and all of its content.
  • Any commercial Airbnb insurance liability has a limit of $2,000,000 dollars.
  • You don’t have to pay for the insurance all the time, only for the time that the guests are present.
  • Their policies cover anything from breaking valuable goods to theft. You can explore more of what they cover over on their homeshare policy summary.
  • The average Slice policy comes out to be around $7 per night. Yeah, that’s right, you heard me, $7 per night. This seems like a great deal, and it really can be! If… you aren’t hosting every day of the week. $7 x 30 days = $210 for the month. At a years rate of 12 months, it will take you to $2,520. So while this is a great idea for people who rent out here and there, as they advertise, it’s not an optimal Airbnb insurance for those who have constant bookings.

Airbnb Insurance

Airbnb Insurance: Proper Insurance

Just to clarify here, when I say “Proper Insurance” I’m talking about the company, not a proper way to have insurance. (Although, it can be!) This company, although not as flashy as Slice, provides a great service of short-term vacation rental insurance.

This small company originated from the state of Virginia and actually acts as a salesman in a three-party transaction. This involves the insured party (which is you), the agency (Proper Insurance), and the insurance company that they use. The insurance company is the one that pays the claims off to the insured party. The company’s underwriter for the Airbnb insurance is Lloyd’s of London.

Proper Insurance company claims that they can offer you a five-minute price quote online. But is it better than Slice? How does it compare?

Well first off Proper Insurance offers coverage for buildings, the content within and commercial liability. It’s developed with short-term vacation rentals in mind such as vacation homes, duplexes, condos, cabins, and more!

But let’s break things down further…

Proper Insurance – The Breakdown

Just like anything else, research and quotes should be gathered about your own personal location before going through with an insurance plan. Just because Proper Insurance may work for one person doesn’t mean that it’ll be right for you. However, Proper Insurance has a plethora of glowing reviews. Here’s some of the good, the bad, and the ugly.

  • Proper Insurance offers a commercial umbrella policy that goes above and beyond personal limits of $2,000,000.
  • The price comparison is difficult unless contacting a representative personally about your individual locations and needs. There seem to be a lot of small nuances that can affect the price of the insurance.
  • They offer coverage in all 50 states with high TIV limits.
  • A direct bill along with custom pricing and proposals are available.
  • They seem a little bit more “old school” than Slice and not as personable. However, their agents have received great reviews.

Airbnb Insurance

Which One Is The Best Airbnb Insurance?

This may seem like a cheesy answer, but truth be told it really depends on your personal needs and what kind of Airbnb insurance that you’re hoping to get.

I will say that if you are a casual renter, Slice is great for anyone that needs stop and go coverage. Their services to only offer coverage for the time you need is great for these circumstances on top of your normal homeowner’s insurance or landlord policy.

Proper insurance, on the other hand, can replace your other forms of insurance. However, this means that you’re paying for the service at all times. I highly recommend Proper over Slice in the case that you are looking for an insurance replacement or rent out your place frequently throughout the month.

What Do You Think?

Do you have a preference for Slice or Proper Insurance for your short-term rental? Is there a completely different short-term rental property insurance coverage that you’ve come across that you would like to share? Post in the comments below!

  • John
    Posted at 18:41h, 21 March Reply

    I have been using Slice for a couple of months for my AIrbnb with no issues. However today they refused to insure my next two stays because a weather service advisory has declared a moderate to high risk of fire due to low humidity and 10mph winds this afternoon. So basically if the wind is just 10mph and it’s not damp, you are going to have gaps in your coverage. In my state, we get these advisories ALL THE TIME. It should never prevent you getting insurance, that’s ridiculous. If they don’t like the risk, then why not just take off forest fire cover during those periods?? Why decline to cover every other eventuality? I’m so mad. Don’t waste your time with Slice, go to Proper Insurance.

    • Sam Zuo
      Posted at 18:44h, 21 March Reply

      Thanks for sharing John. It’s part of the issue of having AI as the main decider. It doesn’t take in humanism into its consideration. I’m sorry to hear about this.

      • Julia Davis
        Posted at 18:27h, 07 October Reply

        So who provides str insurance under 7 day stay?
        I’m not interested in airbnb’s million dollar free insurance

  • Stefanie Stewart
    Posted at 05:42h, 28 October Reply

    Well I had Proper for two years, and now they just dumped me for high wildfire risk in California. So they are no better than Slice. At least my chances are better with Slice otherwise I cant get insurance to cover my home as an Airbnb host. I will have to shut down the business. I’m giving Slice a try. They are my last resort.

    • Sam Zuo
      Posted at 07:40h, 28 October Reply

      Ouch, I’m sorry to hear that.

      I’m certain that there will be other companies that’ll pop up in the next year or two.

  • Andrea
    Posted at 20:21h, 30 October Reply

    You should mention to your readers that Proper DOES NOT insure room-by-room renters. So if you have two different groups renting two different rooms in your place, Proper will not cover you. We have a 4 bedroom Airbnb house, and we’re searching for something that will cover us because Proper will not.

    • Sam Zuo
      Posted at 07:50h, 31 October Reply

      Thank you, Andrea.

  • Ken
    Posted at 19:53h, 02 May Reply

    Foremost and CBIZ

  • Patti Stevens
    Posted at 08:21h, 12 June Reply

    Slice has not been available to cover any of my stays since the covid pandemic. I just wrote to them to ask when it will be available again. They responded saying they had no idea but most likely not in the near future.

    • Sam Zuo
      Posted at 09:08h, 12 June Reply

      Try the other two that were suggested by one of the readers.

      It’s a bummer tho, I’m sorry to hear that. It wasn’t the case when I wrote this article.

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