Tune Protect Malaysia and short stay management company, HostAStay launch HosProtect, a one of a kind insurance plan aiming to safeguard homeowners and hosts who utilize the HostAStay platform to manage their short stay businesses. Short-stay accommodation has revolutionised the global and local hospitality. The sharing economy in Malaysia is estimated to be worth between US$10 to US$14 billion by 2025, creating 1.2 million jobs.
HostAStay helps connect these vibrant communities of homeowners and guests to provide more choices and to deliver memorable experiences. HostAStay which now comes with HostProtect makes the business both hassle and risk free. In developing HostProtect, Tune Protect Malaysia worked closely with HostAStay who shared valuable insights and top concerns homeowners face in the short-stay business.
At the top of the list was fear of loss and damage to home contents. This concern has also led to many homeowners deciding not to participate in this short-term sharing economy altogether. Another concern was safety of guests and other third parties while staying in the said properties. The fear of possibly being sued for accidents from an unintended oversight could lead to more trouble than gain.
Khoo Ai Lin, Chief Executive Officer of Tune Protect Malaysia says, “In line with one of our key strategic areas of tying up with affinity partners to acquire critical mass on retail business, Tune Protect Malaysia is proud to work with a progressive company such as HostAStay to offer another innovative value-added insurance plan to customers, giving them peace of mind. We took great effort to ensure HostProtect meets the needs of hosts and homeowners enabling them to enhance their businesses by mitigating their risk.”
HostProtect allows homeowners to enjoy peace of mind with a plan that protects them against any loss or damage to the contents in their properties of up to RM 30,000 per household. The plan also covers their legal liability to guests and third parties in an event of an accident caused by or through their own negligence of up to RM50,000.