The Best Host Insurance
When people consider opening their homes as a short-term rental host, they often don’t consider the liability risks. The risk is there no matter if you are renting out a single room, a guest house, or your entire property. Is there a faulty outlet that can shock a tenant? Is the banister on the stairs secure? Has the bathtub been cleaned of slippery soap scum? All these concerns can leave you vulnerable for a lawsuit that can put you and your family’s wellbeing at risk.
Proper Insurance is written as a business policy that provides hosts with an automatic coverage of $1,000,000/2,000,000 in commercial general liability. Plus, you are covered when your vacation rental “doubles” as your primary residence. Our policy provides $1,000,000 in personal liability. We recognize the contents of your home are expensive and there is little you can do to prevent damage when hosting your property to short-term tenants. What will you do if one of your guests decides to steal your bicycle or knocks a painting off the wall? Worst case scenario, what will you do if your tenants leave a burner on and the building catches fire? These are legitimate concerns that you should consider.
Protect your investments. Many homeowners policies have standard occupancy restrictions, meaning there are restrictions around the use of the property. Proper Insurance uses a commercial form in order to have no standard occupancy restrictions. At the time of a covered loss, it does not matter to us who occupied your rental. You, your friends, family, and tenants are all covered. Your rental is even covered when it is left unoccupied.
Proper Insurance also recognizes how hosts come to rely on the income generated from their property. You need to see a return on your investment. What happens when a tenant damages your property and makes it uninhabitable? Not only do you need repairs covered, but you also need assurance that your income is covered as well. When you sign up with Proper Insurance, you select the limit of insurance. Some owners choose to insure $15,000 while others insure $150,000. It is entirely your choice depending on the amount of income you predict your property will generate.
Vrbo recognizes Proper Insurance as its premier vendor of comprehensive host protection insurance. We have over 30,000 policies written in all 50 states. We are confident that you will determine Proper Insurance to be the right host coverage for your short-term rental property.