Homeowners seeking to bring in extra income by renting their homes through sharing services often don’t realize the serious financial risks they’re running. Homeowners assume their insurance will protect them when their home is rented, but the reality is they may be liable for any damages or injuries on their property while renters are staying there. Most homeowners’ policies have property and liability exclusions for business use, including rentals. This includes vandalism and theft of personal property while rented. Home-share sites may offer to repair or replace damage caused by a guest, but those promises aren’t an insurance policy, and homeowners will have to carefully follow the requirements to obtain reimbursement.