Short term rental liability

[Austin Moberg]

Hello everyone, first time poster needing some guidance. I have a lovely lakefront property in my name very close to a big city. I want to use part of it to do STR due to the unique nature of the property, and my initial thought is Airbnb. I will be researching other STR forms, but my main concern is about liability just in general for no specific reason, as the property is in excellent condition. My question is, should I feel safe and move forward with this if I buy good short-term rental insurance or in your experience what should I do to feel protected?

[Collin Hays]

Quote from @Austin Moberg:

Hello everyone, first time poster needing some guidance. I have a lovely lakefront property in my name very close to a big city. I want to use part of it to do STR due to the unique nature of the property, and my initial thought is Airbnb. I will be researching other STR forms, but my main concern is about liability just in general for no specific reason, as the property is in excellent condition. My question is, should I feel safe and move forward with this if I buy good short-term rental insurance or in your experience what should I do to feel protected?

 Yes, rental insurance that specifically covers overnight stays is an absolute must. I would get the highest liability limits they offer and augment it with a personal umbrella policy. You are also going to need to do your part in making the property safe for guests and keeping it that way. Good luck!