Your agent is describing the policy you own. The million dollar figure describes a platform program, and the two do different jobs.
Most homeowner and landlord dwelling policies carry a business use or commercial activity exclusion. Renting nightly to paying guests is generally treated as business use, so a liability claim from a guest, or property damage tied to that use, can be denied. Carriers also non-renew when they find out from a claim rather than from you.
Platform protection programs are real, but they're conditional and usually sit in excess of, or as backup to, your own coverage. They cover certain guest-caused damage and certain liability claims within their own terms, with their own exclusions and their own claims process. They aren't a property policy. They don't rebuild your duplex after a kitchen fire and they don't replace the rent you lose on the other unit while it's out of service.
What operators carry is either a short-term rental endorsement added to an existing landlord policy, or a dedicated home-sharing or commercial policy from a carrier that writes this class. Availability and price vary a lot by state and carrier, so the only useful number is a written quote for your address with the nightly use disclosed. Ask specifically about loss of business income coverage, because a two month repair with no bookings hurts more than the repair.
One more thing to check while you're on the phone: your mortgage. Some loan documents restrict use of the property, and your lender needs to be listed correctly on whatever policy replaces the current one.
