ShareCover Insurance

ShareCover no longer sells or renews policies – existing cover runs until the policy's expiry date. Compare other short-stay and rideshare insurance options.

No reviews yet. Write a review
Alexandra Koster's headshot

By

Alexandra Koster

Updated

Fact checked

Key takeaways

  • ShareCover is no longer offering new policies or renewing existing ones.
  • Existing policyholders retain cover until their policy's expiry date.
  • ShareCover provided flexible options for short-stay hosts and rideshare drivers.
ShareCover no longer sells or renews policies, and existing cover runs until the policy's expiry date. Before it closed, ShareCover offered flexible insurance options for short-stay hosts and rideshare drivers. Backed by Insurance Australia Group (IAG), ShareCover let you take out cover for as long as you needed, whether that was a day or a month. There were no cancellation fees and you could manage your policies online.

It was designed for hosts and drivers on Airbnb, Stayz, Uber, Ola and Didi.

Who is ShareCover?

ShareCover is issued by Insurance Australia Ltd, which is part of the Insurance Australia Group (IAG). The leading general insurance company in Australia and New Zealand, IAG has been protecting people since 1851 and last year paid more than $6.8 million in claims.

What kind of policies are on offer?

ShareCover provided two types of insurance - home insurance and car insurance.

This is insurance for people renting out their property part-time or full-time on platforms like Airbnb, Stayz and Booking.com. Cover options include:
  • Pay-per-night. Suitable for part-time hosting, pay-per-night insurance means you only need to pay for insurance when you need it. It provides you with guest related risks and liability cover and you can get insured for between 1 and 90 days.
  • Short-stay rental house. This is for full-time hosts and provides you with home and contents as well as guest related risks, liability and natural perils such as bushfires.
  • Short-stay rental apartment. This is the same as short-stay rental house cover but is tailored to apartment hosting.
ShareCover provide rideshare service insurance for drivers transporting people, like Uber and Ola, but not food delivery services. With RideCover, you are covered for damage to your rideshare vehicle, damage to other people's vehicle or property and for liability. This cover applies when you are using your car for ridesharing, including,
  • When you are waiting for a booking
  • Driving to a booking
  • Driving passengers to their destination

ShareCover is no longer offering new policies or renewing policies, so you'll only be covered if you have an existing policy, up until the expiry date. After that, you'll need to find a new provider who offers comprehensive car insurance with cover for rideshare drivers.

How does ShareCover compare to a normal home and contents policy?

Your standard home and contents policies generally come up lacking when it comes to cover for guests, especially for damage. Most policies contain exclusions such as:

You are not covered under any section of this policy for damage, loss, cost or legal liability that is caused by, arises from or involves tenants, paying guests or boarders, or someone who lives with them or a person who entered the home or unit with their consent ...

ShareCover can fill the gaps left by your home and contents policy and provide you with added protection. Because every home and contents policy is different, it's hard to do a one-to-one comparison of cover. However, many home and contents policies provide limited-to-no cover for many of the benefits offered by ShareCover, which is highlighted in the table below.

Type of coverShareCoverNormal H&C Policy
Accidental damage
?
ID theft
?
Malicious damage
?
Personal liability
?
Portable & valuable contents
?
Strata property damage
?
Theft or attempted theft
?

What does a ShareCover policy include?

Here's a breakdown of some of the inclusions in each ShareCover policy.

Pay-per-night

Guest coverBuilding coverContents cover
Accident
Accidental breakage of fixed glass
Fire
Malicious damage
Explosion
Theft or attempted theft
Impact
Loss of rental income
Temporary accommodation

Short-stay rental house/apartment

CoverHome and contentsGuest short stay cover
Fire
Impact
Explosion, landslide or subsidence
Theft or attempted theft
Malicious damage
Identity theft
Accident
Accidental breakage of glass
Temporary accommodation
Natural perils e.g. bushfires, storms etc
CoverRideCover
Collision or crashThe cost to repair or replace your vehicle up to the market value (max of $50,000)
Explosion
Fire (not bushfire)
Malicious Acts
Towing
Vehicle pick and return
LiabilityDamage to property up to $10,000,000

How much does it cost?

There are several factors that impact the cost of your ShareCover home and car insurance premiums.

  • The location of your home and car. Homes and cars in certain areas are statistically more likely to experience certain insured events such as theft.
  • The type and amount of cover you select. The higher your level of cover, the more expensive your premiums will be.
  • The excess you select. Selecting a higher excess will lead to lower premiums.
  • Your claims and insurance experience. ShareCover will take your claims history into account when determining your level of risk and therefore how much your premiums will cost.
  • Compulsory government charges. These vary depending on where you live and could include stamp duty, GST and a fire services levy.

Who is eligible for a ShareCover policy?

The main eligibility criteria for a ShareCover policy is as follows:

  • The type of property you own or rent. It must be a free standing house, townhouse, villa or duplex, semi-detached house or terrace. It's not suitable for body corporate buildings and houseboats.
  • How the property is used. The property must be let or sublet to paying guests for temporary residential accommodation through a recognised platform and is only applicable when it's being let or sublet, up to a maximum of 90 days.
  • The condition of your property. The home needs to meet acceptable dwelling criteria. For example, it should be secure, watertight, structurally sound and well maintained.

Here's some information on ShareCover Insurance complaints

ShareCover is underwritten by Insurance Australia Limited, part of IAG, which is categorised as a "very large" insurer. In the table below, ShareCover (Insurance Australia Limited) received 974 complaints, and 40.14% of these were resolved directly with customers.

Alexandra Koster's headshot
Publisher
Add to Preferred Sources

Alexandra Koster was Finder's publisher for car, home and pet insurance. She has a Tier 1 certification in General Insurance, as well as a Bachelor of Arts in Film and Cultural Studies from the University of Sydney. Her hobbies include reading Product Disclosure Statements and deciphering complicated insurance lingo to help people save on their insurance so that they can spend their money on better things – like dogs. See full bio

More resources on Finder

Get rewarded $$ for switching with Finder Rewards

Find a better deal, save on your bills and get a free gift card. Sign up to be the first to hear about new Finder Rewards.

Ask a question

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

6 Responses

    MARTIN WEATHERSTON's avatar
    MARTINJanuary 30, 2024

    Where can i obtain a quote for short stay rental accommodation? My current policy expires tomorrow. What number can I call?

      Sarah Megginson's headshotFinder
      SarahJanuary 31, 2024Finder

      You can contact their customer relations team on 1800 045 517.

    Jan McJannett's avatar
    JanJune 21, 2023

    I am wanting to find suitable home and contents insurance for my home which I intend to rent out on the short term rental market (eg via Airbnb) for a period of 4 months. I won’t be living in the house during this period. Please note that I have a permanent tenant renting the separate upstairs level of my home but I wish to rent out the 3 bedroom downstairs level on a short term basis. I am aware that my existing landlord insurance policy will not cover me for short term rental. Would you please advise an insurer who could provide me with the cover I need. Thank you, Jan McJannett

      James Martin's headshotFinder
      JamesJune 23, 2023Finder

      Hi Jan,

      This is a tricky one because many landlord insurance policies generally only cover short-term rentals, such as Airbnb, if you’re renting out a room. And even then there’ll be conditions attached.

      I’d encourage you to read more about your options in our guide to short term rental and Airbnb insurance. QBE may be one option to consider.

      I hope this helps.

      Best,

      James

    Robert's avatar
    RobertMarch 8, 2017

    If a guest is injured what is the liability cover ?

      Zubair Hassan's avatarFinder
      ZubairMarch 9, 2017Finder

      Hi Robert,

      Thank you for your question.

      You have contacted finder.com.au, a comparison and information service and not actually ShareCover.

      ShareCover provides liability cover for up to of $10 million.

      I hope this helps,
      Zubair

More guides on Finder

Go to site