What type of insurance do I need for mid-term rentals

Question

What type of insurance do I need for mid-term rentals?

Vivian Yip · Answer

Where I am in Texas, my broker advised me that as long as the lease is a 30 day minimum, it is considered long term tenant insurance. I think in California, it's a STR insurance program, so it's a bit of a state specific question!

Jared Townsend · Answer

Here in FL we are able to write mid-term rental with many of our short term rental carriers on a landlord policy. If it is rented less than 6 times per year that opens up to even more carriers. You can also insure it on a commercial form if desired but it tends to be more expensive in our experience.

Rod Hanks · Answer

@Troy Anthony

Hi Troy, Mid-term rentals can usually be covered under a policy that allows both short-term and mid-term uses. In most cases, this falls under a commercial policy that’s specifically designed for those types of rental situations. Standard preferred risk carriers typically won’t insure short- or mid-term rental properties, but we do have a couple of solid markets that can cover you properly.

I’d be happy to walk you through the options and make sure you’re set up with the right coverage.

Diego Alvarado · Answer

Hi @Troy Anthony

Reach out and I can recommend you a few insurance agents that works with commercial policies. I always recommend to shop around and get feedback from multiple insurance agents.

Coming to your questions, in Texas it counts as a long-term if more than 30 days, but the rules are put by the underwriting insurance company so that will vary depending on who you go with.

Kelly Bailey · Answer

Steadily is a great option.

Owen Rosen · Answer

You really can't go state by state on something like this.  Insurance programs can have different rules company to company.

Troy Anthony · Answer

I am located in Texas, the DFW area. Can you share your insurance brokers contact information?

Troy Anthony · Answer

Thank you so much for the information!

What type of insurance do I need for mid-term rentals

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