Question for short term rental owners

[Jay Hinrichs]

I wrote an earlier post about a Columbia River front A frame cabin we just acquired it has a nice Pier and Dock which is grandfathered in.

I of course now need a boat or multiple different water craft.

WE are going to outfit this A frame as an Air BnB so its get utilized more than just us staying there. 

As I was looking at boats I saw some really cool older cabin cruisers that have staterooms in them  all wood very cool looking
and you can pick them up for only 20 to 50k..  Not really worried about using it on the water my thought is to enhance the AIRBNB by having two more bed rooms on the boat tied up right on our pier.. 

Kind of like I see folks us train Caboose and make them into a rental unit ?   there is one of those at Clear Lake CA in Nice..

what do you Air Bnb  Verbo experts think about that idea.. Crazy non starter ?  or could attract more visitors and be profitable. ?  

[Collin Hays]

I love the idea.  But from a risk management perspective, you might visit with your insurance broker to ascertain whether you can get appropriate coverage for that risk.  When you are offering watercraft, whether you intend for the guest to actually utilize it as a vessel to traverse the waters, there are inherent new risks that could rise above standard property insurance.  

For example, if there is a drowning, the plaintiff attorney will scorch the earth to prove your negligence in some way.  And the insurance company may be working against you by scorching the earth to prove your gross negligence:  Most policies specifically exclude perils caused by "gross negligence".  Thankfully, gross negligence is typically a high bar to clear in the courts.   

I'm not trying to discourage you, but I do encourage you to take the time to make sure you have your risk management and transference bases covered.