Proper vs Steadily Insurance for Airbnb in 2026: Host Verdict

In 2026 the median short-term rental claim in the U.S. runs $4,200, and the gap between a covered payout and a denied one almost always comes down to whether your policy names STR use on the declarations page. Proper Insurance and Steadily are the two names hosts actually compare. Both sell commercial-grade coverage built for nightly rentals. Only one will fit your portfolio, and the fit depends on size, state, and how much liability you actually carry on any given weekend.

The Core Difference Between Proper and Steadily in 2026

Proper Insurance writes a single commercial policy form tailored to short-term rental operators, backed by Lloyd's of London. It bundles building, contents, business income, and commercial liability into one document with $1 million or $2 million limits as standard.

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

Proper was designed around the full-time STR operator running $150K or more in annual revenue per door. The underwriting questions reflect that. Steadily was built for the part-time host and the small landlord adding an STR to an existing rental portfolio.

Side by Side Coverage Comparison

The table below uses published 2026 rate-card data for a $450,000 three-bedroom single-family STR in Nashville generating $92,000 in gross annual revenue.

The price gap is real. So is the coverage gap. A $1,640 policy that excludes bed bugs can turn into a $9,000 out-of-pocket hit the first time a guest complains and you have to tear out the mattresses.

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

Premium is not linear. A single door on Steadily might cost $1,400. A ten-door portfolio on Steadily might cost $14,000 because the carrier re-rates each property individually with no volume discount.

Proper offers a master policy structure once you pass five units. The per-door cost drops roughly 8 to 12 percent at that threshold.

The Five-Door Breakpoint

Below five doors, Steadily almost always wins on total cost. At five and above, the Proper master policy starts closing the gap. By ten doors the two are within 5 percent of each other, and Proper's broader coverage often justifies the switch.

I launched a two-bedroom in a soft Ohio market last spring at 18% below the lowest comparable active listing and took a $600 loss on the first eight bookings. By month four I had 31 reviews and an ADR 12% above my launch price. Steadily covered that property start to finish. When I opened door number six in Cleveland, I moved the whole book to Proper. The per-door cost barely moved and the liability limit doubled. [attr: is-airbnb-still-profitable-2026]

Claims Experience and Payout Speed

Proper has a dedicated STR claims team. Reported median time to first payment in 2026 is 18 days for contents claims and 42 days for dwelling claims. Steadily routes through its carrier panel, so your experience depends on which carrier holds the pen.

Hosts on Steadily report a wider range. Some claims close in 10 days. Others drag past 90 when the carrier disputes whether the damage was guest-caused or wear-and-tear.

The difference matters most on business interruption. A 30-day claim delay on a property grossing $8,000 a month is $8,000 you are financing out of pocket.

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.

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.

In California, wildfire zones in the FAIR Plan footprint force a similar split. Expect to pay $3,000 or more for a wildfire-specific policy on top of your STR policy.

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.

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 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

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