Proper vs Steadily Insurance for Airbnb in 2026: Host Verdict
TL;DR
Sean Rakidzich finds that Proper Insurance and Steadily Insurance differ significantly in coverage and pricing, with Proper offering broader protection for higher-revenue, multi-unit hosts and Steadily providing a faster, cheaper option for smaller portfolios.
The article compares the two policies using a $450,000 three-bedroom STR in Nashville, highlighting that Proper's annual premium is $2,480 versus Steadily's $1,640, with Proper offering higher liability limits and better business income coverage.
Sean recommends selecting based on revenue band and portfolio size, noting that Proper becomes more cost-effective for portfolios of five or more units due to its master policy structure and broader coverage. By Sean Rakidzich, 155-property operator. Strategy session at rakidzich.com/book.
Tools Compared
| Feature | Proper Insurance | Steadily |
|---|---|---|
| Annual Premium (sample) | $2,480 | $1,640 |
| Dwelling Limit | Replacement cost, uncapped | Replacement cost, capped at scheduled amount |
| Liability Limit | $1M or $2M | $300K, $500K, $1M options |
| Business Income | 12 months actual loss sustained | 12 months, scheduled amount |
| Bed Bug Coverage | Included up to $25K | Optional endorsement |
| Commercial Liability Named | Yes, standard | Yes, with STR endorsement |
| Quote Turnaround | 2 to 4 business days | Under 5 minutes online |
Proper is the heavier commercial policy built for higher-revenue, multi-unit hosts. Steadily is the faster, cheaper fit for single-property and small-portfolio operators. Pick by revenue band, not by brand loyalty.
The Core Difference Between Proper and Steadily in 2026
Steadily is a newer entrant. It underwrites through a panel of carriers and sells a landlord-style policy with STR endorsements layered in. Pricing runs faster and lower. The tradeoff is thinner coverage on business interruption and some contents categories.
Both are admitted or surplus-lines in all 50 states as of January 2026. Both accept month-to-month cancellation. Neither requires a minimum stay length.
Who Each Product Was Actually Built For
Side by Side Coverage Comparison
| Feature | Proper Insurance | Steadily |
|---|---|---|
| Annual Premium (sample) | $2,480 | $1,640 |
| Dwelling Limit | Replacement cost, uncapped | Replacement cost, capped at scheduled amount |
| Liability Limit | $1M or $2M | $300K, $500K, $1M options |
| Business Income | 12 months actual loss sustained | 12 months, scheduled amount |
| Bed Bug Coverage | Included up to $25K | Optional endorsement |
| Commercial Liability Named | Yes, standard | Yes, with STR endorsement |
| Quote Turnaround | 2 to 4 business days | Under 5 minutes online |
Where Proper Wins on Paper
Business income coverage on Proper pays actual loss sustained. Steadily pays a scheduled figure you pick up front. If you guess low, you eat the difference during a six-month rebuild after a kitchen fire.
Premium Math for Small and Large Portfolios
The average annual premium difference between Proper and Steadily on a single-door policy in 2026. Multiply by your unit count, then weigh against the coverage gaps before you pick.
The Five-Door Breakpoint
Claims Experience and Payout Speed
What AirCover Does and Does Not Replace
Airbnb's AirCover is not insurance. It is a reimbursement program with exclusions, caps, and a claims process that sits outside state insurance regulation. Read the full terms on the Airbnb Help Center. You still need a real policy behind it.
AirCover does not cover your building, your liability to non-guests, your lost income during a rebuild, or any claim tied to a direct booking. It is a thin layer on top of a real commercial policy, not a substitute for one.
State by State Availability and Restrictions
Both carriers write in all 50 states. The experience is not identical. California, Florida, and Texas have regulatory quirks that change which endorsements are available and how fast quotes close.
In Florida, wind and hail is almost always carved out and placed with Citizens or a wind-only carrier. Both Proper and Steadily will quote the non-wind portion. You still need a second policy for the wind exposure.
High-Risk Markets to Watch
- Florida coastal counties. Wind carve-outs standard, second policy required.
- California WUI zones. FAIR Plan wildfire policy layered on top.
- Colorado and Texas hail belts. High deductibles, often 2 to 5 percent of dwelling value.
- Louisiana. Surplus-lines only, thin capacity, expect slow quotes.
The Decision Framework for 2026 Hosts
Pick by revenue and unit count. Ignore the marketing.
Choose Your Carrier in Four Steps
- Count your doors. One to four doors, start with Steadily. Five or more, quote both and compare master-policy pricing from Proper.
- Check your gross revenue per door. Above $100K per door, lean Proper for the actual-loss-sustained business income. Below that, Steadily's scheduled limit is usually enough.
- Pull your liability exposure. Pool, hot tub, trampoline, or sleeps-12-plus? Minimum $1M liability, and Proper's standard $2M option is worth the spread.
- Verify state availability. Get a written quote in your state before you cancel the incumbent policy. Coastal and wildfire markets change monthly.
Run both quotes. Do not assume.
When to Use a Broker Instead
If you carry more than 15 doors or you own across three or more states, stop DIY-ing policies. A specialty STR broker can bind a true master policy with manuscript endorsements neither Proper nor Steadily will write direct. Budget 8 to 12 percent of premium in commission.
The cheapest policy that names short-term rental use on the declarations page beats the most expensive policy that does not. Everything else is a tiebreaker.
What Changes in 2026 You Need to Price In
Three shifts hit STR insurance this year. Premiums are up an average of 11 percent across both carriers. Liability settlements involving guest injuries crossed $2.1 million median in 2025, which is why $1M limits are now the entry floor, not the ceiling.
Second, both carriers now require proof of a working smoke and CO detector system at quote time. No photo, no bind. Third, pool and hot tub surcharges are running $280 to $540 per year depending on fencing and safety equipment.
The average 2026 premium increase on STR-specific policies across Proper, Steadily, and the broader specialty market. Budget the hike into your 2026 pro forma before it surprises you.
The Deductible Trap
Raising your deductible from $2,500 to $5,000 saves roughly 6 percent on premium. On a $2,000 policy that is $120 a year. Do not trade $2,500 of first-dollar exposure for a $120 savings unless you have cash reserves of at least $25,000 per door.
People Also Ask
What is the Airbnb strategy in 2026?
The dominant 2026 strategy is base-rate discipline with aggressive last-week discounting. Hosts hold price until seven days out, then cut in 5 percent increments to fill remaining nights. Longer stays are priced on an asymmetric min-stay grid instead of a flat two-night minimum. For the full profitability picture see is Airbnb still profitable in 2026.
What is the best insurance for an Airbnb?
For one to four doors, Steadily is the best fit by price and speed. For five or more doors or high-liability features like pools and hot tubs, Proper is the better policy. Neither AirCover alone nor a standard homeowner's policy is enough. If you want to benchmark STR market fundamentals before picking, AirROI publishes free market data you can cross-reference.
What is the 80/20 rule for Airbnb?
Roughly 80 percent of your revenue comes from 20 percent of your calendar, usually the peak-season weekends and holidays. Insurance, pricing, and staffing decisions should be built around protecting that 20 percent window, not smoothed across the year.
Your Move This Week
Pull your current policy declarations page. Check whether it names short-term rental or transient occupancy use. If it does not, you are running uninsured on every booking regardless of what your agent told you verbally.
Request a Steadily quote in under 5 minutes. Request a Proper quote the same day. Compare the two against your incumbent on three numbers: annual premium, liability limit, and business income basis.
If you are still deciding whether the ST
Frequently Asked Questions
How does the core difference between proper and steadily in 2026 work?
Proper Insurance writes a single commercial policy form tailored to short-term rental operators backed by Lloyd's of London. Steadily is a newer entrant that underwrites through a panel of carriers and sells a landlord-style policy with STR endorsements layered in. The tradeoff for Steadily is thinner coverage on business interruption and some contents categories compared to Proper.
How does side by side coverage comparison work?
A comparison table uses published 2026 rate-card data for a specific property to show differences in premiums and limits. Proper offers uncapped replacement cost dwelling limits and included bed bug coverage while Steadily caps dwelling amounts and makes bed bugs optional. Liability limits and business income calculations also differ significantly between the two providers in this side by side view.
How does premium math for small and large portfolios work?
Premium costs are not linear because Steadily re-rates each property individually without volume discounts for larger portfolios. Proper offers a master policy structure once you pass five units where the per-door cost drops roughly 8 to 12 percent at that threshold. Below five doors Steadily almost always wins on total cost while Proper becomes competitive at ten doors.
How does claims experience and payout speed work?
The median short-term rental claim in the U.S. runs $4,200 and the gap between a covered payout and a denied one depends on whether your policy names STR use on the declarations page. Proper pays actual loss sustained for business income while Steadily pays a scheduled figure you pick up front. You could eat the difference during a rebuild if you guess low on the scheduled amount.
How does state by state availability and restrictions work?
Both Proper and Steadily are admitted or surplus-lines in all 50 states as of January 2026. Neither company requires a minimum stay length for their policies to be valid. Both accept month-to-month cancellation for flexibility across different state regulations.
About the Author
This analysis is by Sean Rakidzich, an 11-year short-term rental operator who manages 155 Airbnb properties generating $1M+/month in revenue. Sean has trained 5,000+ students across 76 countries with $1.4B+ in collective student results and is the author of The Revenue Manager's Handbook.
For Sean's framework on Proper Insurance and Steadily Insurance differ significantly in coverage and pricing, with Proper offering broader protection for higher-revenue, multi-unit hosts and Steadily providing a faster, cheaper option for smaller portfolios, see his full content library at rakidzich.com or book a 30-minute strategy session at rakidzich.com/book.