What insurance coverage for STR?

7 Replies

What kind of insurance coverage does a short term renter need to cover themselves? EG. Pool accidents etc.

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You will need a commercial policy, specifically for overnight rentals.  A standard homeowners policy, and a standard landlord policy, will not work.  One of the top companies for this is CBIZ.  You can Google them.  Good luck!

Originally posted by @Collin H. :

You will need a commercial policy, specifically for overnight rentals.  A standard homeowners policy, and a standard landlord policy, will not work.  One of the top companies for this is CBIZ.  You can Google them.  Good luck!

Collin, Are you saying the commercial policy needs to be in addition to or in place of a standard homeowners policy? What about the protection provided by AirBNB/VRBO? 

Originally posted by @Derek Idstein :
Originally posted by @Collin H.:

You will need a commercial policy, specifically for overnight rentals.  A standard homeowners policy, and a standard landlord policy, will not work.  One of the top companies for this is CBIZ.  You can Google them.  Good luck!

Collin, Are you saying the commercial policy needs to be in addition to or in place of a standard homeowners policy? What about the protection provided by AirBNB/VRBO? 

A commercial policy will take the place of the homeowners policy. The STR is a business, hence the need for a commercial policy. There are things you need to insure against that a homeowners policy will not cover. And homeowners policies generally exclude commercial activities done on the premises. So a homeowners policy for an overnight rental isn't the correct tool.

The "protections" offered by airBnB and VRBO are worthless.  That's a marketing trick.

@Chris K. I called my Insurance co. that covers my other homes and vehicles and asked point blank if they would cover my STRs as a vacation rentals business. They said they had a commercial policy specifically for that purpose.....