GA SB503

Rental home marketplace guarantees are exempted from the definition of property insurance under Georgia law, meaning platforms like Airbnb and VRBO can offer damage protection programs without being regulated as insurance products.

Providers must back their guarantees with a reimbursement insurance policy from an authorized insurer that covers obligations if the provider fails to perform.

Guarantee agreements must include the statement "This agreement is not an insurance contract" and clearly specify all terms, limitations, exceptions, and exclusions.

"Rental home marketplace" is defined as an online platform connecting users to share property, where the guarantee offering is ancillary to the primary business, excluding government entities.

"Rental home marketplace guarantee" covers contracts reimbursing property owners for damages caused by renters under the platform's terms of service, with or without additional indemnity provisions.