That's why its not liability insurance, but not all insurance is liability insurance. (Typical homeowner's/renter's insurance includes both liability and non-liability coverages.)
There's a fun little research jag to be had in comparing the two; the big two basic differences I can find are:
* Providing insurance subjects you to state regulation on insurance policies, which are more onerous than those governing warranties.
* Guaranties and warranties indemnify against flaws in a product or service; they protect you from wrongdoing on the part of (or foreseeable by) the vendor providing the service. Insurance indemnifies against damage that is potentially unrelated to the service itself.
The latter difference seems material for something like Airbnb, where the protections you need include liability claims by short-term tenants and liability claims for neighbors, some of which might arise not simply by malicious acts from those tenants but from things like "the tenant left the door unlocked and the whole building got broken into".
Either way: take a closer look at what Abnb is offering here; it's not like renter's insurance.
