A: A standard homeowners insurance policy likely won't cover this type of damage. For example, if the paying guest knocks over and breaks a lamp while staying at your home, your homeowners insurance likely won't consider that a "covered peril." Additionally, because most homeowners and renters policies exclude property damage to a rental property, the paying guest may not have coverage through their own homeowners or renters insurance if they damage your property. You would want to make sure your paying guests have the capacity to pay for any damage they may cause to your property, or ask your insurance provider whether you're able to purchase additional coverage to help protect your property in case it's damaged by a paying guest.