Airbnb Makes Good, Will Now Cover Up To $1M In Property Damages

As people become increasingly comfortable using web platforms to swap homes, cars, and everything in between, some have said that collaborative consumption movement has the potential to be as profound as the industrial revolution. But, before that can happen, platforms that deal in collaborative consumption have to do more to ensure consumer protection, a lesson Airbnb learned the hard way last year. After a user's home was trashed last summer (and a slew of bad press followed), Airbnb apologized and offered a $50,000 guarantee against damages to hosts. Today, the community marketplace is going one giant step further, announcing that it will now be offering its hosts a $1 million guarantee.

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