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Apr 25
Big ‘I’ Markets Offers Home-Sharing Endorsement
While home- and room-sharing through platforms like Airbnb can be lucrative for homeowners, these activities exacerbate typical homeowners risks. In response, Big “I” Markets partner Lexington Insurance Company offers a series of enhancements to LexElite® homeowners insurance.

As the sharing economy reshapes the home and condo rental market, LexShareSM HOME Rental Coverage (LexShare HOME) is explicitly designed to extend homeowners protection expressly where short- and long-term landlords need it—providing coverage certainty with an expanded definition of "residence premises" and raising the roof on protection for losses from property damage, theft and more. 

Key coverage highlights include: 

  • A broad definition of "residence premises" that eliminates any grey areas in coverage for primary and secondary rental properties, and expressly encompasses both short- and long-term rentals, regardless of whether they are secured through online peer-to-peer websites or traditional real estate brokers.
  • Protection for rental of other structures on the "residence premises," such as a converted garage apartment—deleting the exclusion of other structures rented or held for rental in the standard homeowners policy.
  • Increased coverage for damage to landlord's furnishings, including appliances, carpeting, and other household furnishings in each apartment on a "residence premises," eliminating the $2,500 coverage cap in a standard homeowners policy.
  • Enhanced protection for personal property, tripling the standard special limits of liability in key areas.
  • Coverage for theft of personal property from the part of a "residence premises" rented to others.
  • $100,000 watercraft liability coverage for certain watercraft rented to others, such as jet skis, small sailboats and powerboats, canoes, kayaks and rowboats. Standard homeowners policies provide no coverage whatsoever for watercraft rented to others.
  • Express coverage for tenant-caused damage to trees, shrubs, plants or lawns on primary and secondary rental properties.

LexShare HOME is the newest addition to Lexington's suite of enhancements to LexElite® homeowners insurance, each designed to help consumers keep pace with the fast-moving risks of today's world. Additional endorsements include Lex CyberSafetySM Coverage, Upgrade to Green® Residential, Eco-Homeowner® Mandatory Evacuation Response Coverage and LexElite® Pet Insurance.

The non-standard homeowners, renters, condominium, rental dwellings, vacant dwellings product is available all in states except Hawaii. To learn more, visit Big "I" Markets


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​127 South Peyton Street
Alexandria VA 22314
​phone: 800.221.7917
fax: 703.683.7556

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