Updated about 2 years ago on . Most recent reply
Hazard / BnB Insurance
Thought I'd done all of my due diligence for starting into the STR space and now having challenges finding insurance coverage. Could get a policy with it as a second/vacation home, but expect I'd run into claims issues if BnB renters caused a problem. Any and all help/guidance appreciated. Annoyed that I missed this one.
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#2 Short-Term & Vacation Rental Discussions Contributor
- Olympia, WA
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#2 Short-Term & Vacation Rental Discussions Contributor
- Olympia, WA
Hey @Steve Ford, you need a real live short term rental policy. Not a homeowners policy, not a landlord policy.
A standard homeowners policy won't cover you for anything that happens due to guests. They might even not pay if it is found out that you have been STRing the place and have a claim NOT related to guests.
Ask your agent for quotes on STR insurance. Proper is a big one, very comprehensive and expensive (we have this), Foremost, CBIZ are others.
Many insurance companies now offer STR policies. See if you primary home insurer offers one.
Do not rely on the AirBNB and VRBO coverages. They are not insurance. Get a real STR policy.