Insurance Information

Insurance Guide for Hosts and Renters

Whether you’re listing a driveway, garage, shed, storage area or commercial space, understanding insurance is an important part of protecting yourself and your property. While Rent My Space provides a platform for connecting hosts and renters, each party remains responsible for ensuring they have suitable insurance for their own circumstances. This guide explains the different types of insurance that may apply and the questions you should ask before every booking.

Important Disclaimer

This information is provided as a general guide only and should not be relied upon as legal, financial or insurance advice. Insurance policies differ between providers and individual circumstances. Before listing or renting a space, speak with your insurer and carefully review your Product Disclosure Statement (PDS) to understand exactly what is and is not covered.

Who Is Responsible for Insurance?

Insurance responsibilities generally remain with the owner of the property, vehicle or stored belongings. A host’s insurance does not automatically cover a renter’s property, and a renter’s insurance may not automatically cover damage to someone else’s property. Both parties should ensure they have appropriate cover before entering into any rental arrangement.

 

  • Hosts should confirm their property and public liability insurance remains valid when earning income from a listed space.
  • Renters should ensure their vehicles, equipment or stored belongings remain insured while kept at another location.
  • Commercial operators may require additional insurance depending on the nature of their business and stored goods.

Insurance for Property Owners

If you are listing your property through Rent My Space, your existing home, landlord or commercial property insurance may continue to provide protection, however this depends entirely on your insurer and policy conditions. Some insurers may require notification when a property is used to generate income or when third parties regularly access the premises.

Before listing your space, ask your insurer:

  • Will my current policy remain valid?
  • Am I covered while renting part of my property?
  • Does my public liability cover continue?
  • Are there any exclusions relating to paid parking or storage?
  • Do I need additional insurance?

Insurance for Renters

Anyone storing a vehicle, trailer, caravan, boat, equipment or personal belongings should check whether their existing insurance policy continues to provide cover while those items are stored at another person’s property. Many comprehensive policies continue to provide protection in certain situations, but conditions and exclusions differ between insurers.

Check your policy for:

  • Theft protection
  • Fire damage
  • Storm and weather events
  • Accidental damage exclusions
  • Storage at third-party properties
  • Long-term storage limitations

Vehicle Insurance

Cars, motorcycles, caravans, trailers and boats often remain insured while in storage, however this depends on the insurer, registration status and policy conditions. Some insurers require vehicles to remain registered, while others offer specialised storage or laid-up policies for vehicles that are not being driven.

Before storing a vehicle, confirm:

  • The storage address is acceptable.
  • Your policy covers long-term storage.
  • Any security requirements are met.
  • Registration requirements remain satisfied.
  • Your agreed or market value remains unchanged.

Public Liability Insurance

If someone enters your property and suffers an injury or claims that your negligence caused damage, public liability insurance may become relevant. Not every property policy automatically includes suitable liability protection for income-producing activities, so hosts should confirm the extent of their cover before accepting bookings.

Where appropriate, business operators should also consider whether commercial public liability insurance better suits the activities taking place on the property.

What Is Usually Not Covered?

Every insurance policy is different, however common exclusions may include:

  • Wear and tear
  • Mechanical failure
  • Poor maintenance
  • Undisclosed commercial activities
  • Illegal or prohibited items
  • Damage caused intentionally
  • Unapproved modifications
  • Items specifically excluded by your policy

Protecting Yourself Before Every Booking

Taking a few simple steps before a booking begins can help reduce misunderstandings and support any future insurance claim.

  • Photograph the space before arrival.
  • Photograph the vehicle or stored items.
  • Record any existing damage.
  • Agree on access arrangements in writing.
  • Clearly identify prohibited items.
  • Keep copies of all booking information.
  • Report issues as soon as they occur.

Commercial Storage Spaces

If you are listing a warehouse, factory, workshop or other commercial premises, different insurance requirements may apply. Commercial property insurance, public liability and business insurance should be reviewed to ensure the intended use of the space is covered. Certain industries or stored goods may require specialised insurance arrangements.

Final Reminder

Insurance provides peace of mind, but every policy is different. Before listing a space or storing valuable property, take the time to confirm your cover, understand any exclusions and ask your insurer any questions you may have. A few minutes spent checking your policy today could prevent significant costs in the future.

Frequently Asked Questions

Does Rent My Space provide insurance?

No. Rent My Space is an online marketplace that connects hosts and renters. Each user is responsible for arranging any insurance appropriate to their own property, vehicles or belongings.

Do I need insurance to list my space?

While insurance may not always be legally required, it is strongly recommended that hosts confirm their existing insurance remains appropriate before accepting bookings.

Will my home insurance cover someone else’s belongings?

Not necessarily. Home insurance policies are designed differently by each insurer and often contain exclusions relating to third-party property or income-producing activities. Always confirm your cover with your insurer.

Should renters insure their own belongings?

Yes. Anyone storing valuable property should ensure they have appropriate insurance for those belongings while they are stored away from home.

What happens if something is damaged?

The outcome will depend on the circumstances, any applicable insurance policies and the responsibilities of the parties involved. Accurate records, photographs and prompt communication can assist if a claim becomes necessary.