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Renting an AirBnB or VRBO?

By February 23, 2023March 22nd, 2023No Comments
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Do you use Home Sharing apps to travel?  As more and more people use these, insurance companies are finding themselves having claims presented to them that were not initially calculated for.  As a landlord of a property rented out through a Home Sharing app or a traditional Broker or even oneself, here are a few insurance questions that should be pondered:

If an Airbnb guest is injured off my premises, does my liability extend “off-premises?”

Are amenities such as swimming pools, hot tubs, bicycles + more, extended to my liability coverage and if it is limited in some way?

What are the pitfalls of getting dragged into a lawsuit surrounding alcohol use of an Airbnb guest?

Is there any coverage for lost business income, is there a time limit to this, and does it provide “extra expenses” for the “renter” to be moved elsewhere for the balance of their rental term? 

How is theft of property handled; this is especially important if the rental is a Condominium Unit?

Not all insurance policies are created equally these days in this marketplace. Understanding the limitations and expectations of the insurer and landlord are important.  This is what we do, in protecting what you have; contact us today to ensure you are considering the most important factors in your insurance plan.