In the Know... Vacation Rental Properties
If you’re considering renting out your home as a vacation rental property through AirBnB, VRBO or any other site, there are a few things you need to know…
>> Most insurance companies don’t assume this type of risk, and a general homeowner’s policy does not cover vacation rental properties.
>> Your current homeowner’s insurance contract likely contains a section that states, “home not to be used for commercial purposes.” If you disobey this section and advertise your home on a rental site, you may cause your homeowners policy to be voided.
>> Without the proper rental endorsement, you are not covered for damage to your property. Plus, you are also not covered if your renter gets hurt on your property.
So, tell your insurance agent that you plan to rent out your property and ask for the special rental endorsement. The Insurance Crew has helped many, many homeowners just like you get the necessary coverage to protect their homes when renting to vacationers.
And, this special endorsement coverage doesn’t have to be expensive — likely only 10% more than your current premium for adequate coverage. We’ll work hard to get you the best rate.
We’ve helped others, we’re here to help you.
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