Commercial Insurance for vacation rental
My vacation home has slowly been morphing into a short term rental property. I recently asked my agent to upgrade my insurance to cover this use model. D'oh! My insurance company doesn't cover such use and now wants to terminate.
So I have been shopping. It seems this is a niche that is not well served and is very expensive, with each quote more than double that of my previous policy.
I had just gotten to revenue neutral on my rental, now I will be back to losing money.
Does anyone know an insurer that will cover STRs at a reasonable rate?
So far I have only found two: Foremost and Proper.
Thanks for any input!