Insurance Tips for Your Vacation Rental

Vacation Rental

While renting out property on AirBnB or VBRO can provide an added source of income, property owners still face personal liability risks for injuries that happen on the property or damage to other people's property. Standard homeowner policies do not cover these risks, so it’s important to keep a few things in mind before renting out your residence, guest house or that spare room:

  • Many insurance companies consider rentals as a business.
  • Standard homeowner insurance or landlord policies typically exclude coverage for injuries or damage related to business activities. If your AirBnB guest is injured during their stay, you may be out of pocket for those expenses.
  • Both AirBnB and VRBO offer host protection or similar liability insurance, but those policies will only go so far. Make sure you extensively research their insurance, as they don’t cover every scenario you may encounter.
  • Depending on your location, it may not be legal to operate an AirBnB in your community, as there are many areas who have prohibited short-term rentals. If you belong to an HOA, they may have restriction as well.

If you have questions regarding a rental property arrangement, call us at (855) 307-8652 so that we can discuss appropriate coverage options available to you.