Even if the owners insurance isn't all that great AAA16 its likely that any damages you or your guest cause will be billed to you , if you don't pay then the owner most likely will sue you for the damages and if the damages are real REAL bad they could fall into a chargeable crime. then of course the last thing would be the Judgment and how long it can stay out in the books and how it could impact your ability to rent any thing in the future and having to pay more for credit related items. A Judgments can be kept on the books in some states easily for twenty years when a unpaid judgment is renewed. B data mining firms who re sell what they learn will eventually add any judgments and if they pick up any criminal court records related to that rental and the reason for the judgments to their files and when other prospective landlords learn of it I can imagine most landlords with nicer rental units will reject your applications which could leave you only able to rent the worst crap hole units out there because those could be the only landlords out there who would consider renting to you. You may be better off doing a rental hall and keeping it to no alcohol or NO underage or one that would allow you to byob.
First, it is good to see you posting as FarmerJ again, FarmerJ.
There can be a lesson learned for both property owners and those who wish to pay owners for use of their property in the story out of Michigan of University of Michigan students who stayed at Treetops Resort in northern Michigan last year.
The combination of partying and alcohol led to close to $500,000 worth of damage to the resort property and the students were criminally charged with malicious destruction of property. They are responsible for paying restitution, not only for the damage done to the property (and the damage was extensive) but also for the time the resort could not rent out the property during reconstruction. The students have been suspended/expelled from school. They have damaged their own reputations to the point where education and employment opportunities are now limited.
The owner of the AirBnB should have an agreement signed that assigns all damage, theft, loss or destruction of property to the prospective hosts of the party. As one of the hosts, AAA16 should know who his partiers are and not allow minors to attend if there is alcohol. He should also monitor the alcohol consumption of his guests as AAA16 can be held liable for any injuries that occur on the premises or as a result of his party (e.g., drunk driving accidents).
There is a lot for AAA16 to consider beyond his guest list, in other words.