Renting Your Home on Airbnb?
You may be surprised to find out that your own home insurance could be impaired if you rent out your home. Here is what you need to know…
The COVID-19 pandemic has changed the way Americans vacation – and short-term rentals like Airbnb’s have proven to be a great lodging option.
If you own a home you currently rent on a seasonal or short-term basis, there are a few things you need to know:
Most insurance companies don’t assume this type of risk, and a standard homeowner’s policy does not cover vacation/short-term rental properties.
Standard homeowner insurance contracts contain a section that states: home not to be used for commercial purposes. If you ignore this section and advertise your home on a rental site, it may void your homeowner’s policy.
Without the proper rental endorsement, you are not covered for damage to your property. Plus, you are not covered if a renter gets hurt while staying in your home.
This special rental endorsement coverage doesn’t have to be expensive. We’ll work hard to get you the best rate. Give me a call or send us an email to discuss.
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