Insurance for Short-term Rental

[Errol Graham]

After many years in the long-term rental business, I now have an opportunity to venture into the short-term rental space. I am both excited and nervous. Excited because I have mental concepts of what I want to create in my own niche market and nervous because the short-term rental market in Florida is in turbulence. 

I am anticipating closing on the subject property in another 15 days and is busy trying to get the best insurance for short-term rental to cover all the bases.

i am therefore reaching out to benefit from the experience of those on this platform, who have gone this way before. Which insurance company offers the best products for STRs and what should I be focused on in determining the best choice of providers?

The quotes I have gotten so far range from $1,200 to $1,500. However, the personal liability coverage at $300k seems rather low to me, given what I expect to be a high turnover of guests. I am also seeing no coverage for guest damage. This gives me some concern.  

I am happy to sit at the feet of pros in the STR market, particularly those in the Orlando area.

Regards.