Insurance protection for rental properties – Airbnb / Vrbo policies launched for vacation homes
Proper Insurance announces the launch of a special insurance product for Airbnb providers and other owners of short-term rental properties. They created this product in collaboration with Ll …
Proper Insurance announces the launch of a special insurance product for Airbnb providers and other owners of short-term rental properties. They created this product in collaboration with Lloyd’s of London
Proper InsuranceÂ® announces the launch of its special insurance for owners of Airbnb, Vrbo and other vacation rental properties. This policy covers the shortcomings of traditional home insurance policies.
More details are available at https://www.proper.insure
With the launch of its new policies, this firm aims to offer specialized protection to vacation rental owners. Some policies include this coverage or can be purchased in addition. Commercial liability is a necessary component of a comprehensive short-term rental policy, although many policy options neglect to add this coverage. Lack of such insurance can leave vacation rental owners vulnerable to vandalism and other damage from guests.
The rental property coverage provided by Proper Insurance covers all types of vacation property including cottages, cabins, condos, townhouses and more. According to them, when a property is open to tenants, it needs all the protection offered to the hotel industry. The firm has specialized rental underwriters who can create a policy that best reflects the needs of the client.
The company may offer coverage for areas where hosts need protection, but which are not covered by most homeowner policies. It protects property left in the care of people other than the owners. It also offers liability coverage for alcohol left on site or provided to guests and protection for equipment such as golf carts, bicycles, small boats, etc.
According to company experts, many vacation rental aggregators mislead owners into believing that a special insurance product is not needed for rentals. This can result in the homeowner not having the required coverage when the need arises.
For their clients, the appropriate insurance replaces the current homeowners ‘or owners’ policy and includes a replacement cost assessment. This gives the vacation rental owner protection for the building, its contents, business liability and loss of business income. The policy also includes personal liability where the property is also the residence of the owner.
The company has over 50,000 policies in all 50 states and is rated A + with the BBB and Standard & Poor’s. Their product is backed by Lloyd’s of London and benefits from the exclusive backing of Vrbo, the leader in vacation rental.
Interested parties can find more information at https://www.proper.insure/airbnb-insurance or call + 1-888-631-6680.