Property Insurance Questions & Discussions

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Zach Sprau
  • Specialist
  • Boone, NC
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NC - Insurance for LTR that will then be used as an STR

Zach Sprau
  • Specialist
  • Boone, NC
Posted May 14 2022, 12:26

Hello, 

Hoping to get some suggestions on rental property insurance. We are getting ready to rent out our property in North Carolina so we need to change from our homeowners insurance to rental property insurance (that includes replacement/rebuild coverage on the property). 

We will be entering a long term lease with a small LLC who will then AirBnB out the property. We will have a LTR agreement with the LLC (that includes a provision for STR), and then the LLC will rent it out as a STR. Our current homeowners insurance provider does not have a product that will cover us for this situation, and the broker they referred us to seemed to be a bit stumped as well, but they are looking into it.

Does anyone have experience with this or have any suggestions for insurance companies/products in NC that would cover us for this situation?

Furthermore, what type of insurance should require the LLC to have? We've been told that for our specific property we should require them to have $100k of insurance (outside of what AirBnB provides) and that we should be listed as an interested party on the policy so we would be notified of any changes.

Thanks! 

Zach


Western NC, North Carolina

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