Insurance for short term rentals

[Tyler Fox]

I am brand new to real estate investing and was wondering what is the best way to go about insurance that will cover me and my assets for my short term rental through airbnb or Vrbo.  Thank you for any advice!

Tyler

[Collin Hays]

Originally posted by @Joshua Adegboye:

Hi Tyler,

I would highly recommend that you KEEP you current homeowners' insurance. Its important to make sure your home is protected first. Then I would treat additional STR insurance as a second layer of protection. I currently use Proper Insurance for my assets however, I have heard good things about Safely, and a third option is Slice by Progressive for an inclusive insurance policy.

This is poor advice. Homeowner's insurance is a completely different animal than STR insurance. A short term rental is a commercial enterprise. Therefore, you need commercial insurance. Insurance that not only covers the dwelling, but lost income, enhanced liability protection, and more. Buying traditional homeowners insurance on a short term rental is money wasted. If you've got extra dollars to throw around stacking policies, get a commercial policy with every bell and whistle.