More professional vacation rental managers recommend Proper Insurance to their owners. Managing someones vacation rental is a big deal and insuring it correctly is even bigger. Owners are often unaware that when their property becomes a short-term rental, traditional home insurance and landlord insurance simply doesn’t cut it.
There is now greater liability and property damage exposure. When a property is entrusted to someone else, aka, giving a guest the keys, fundamentally insurance contracts start to break down, which makes sense as you gave them the keys. There is no coverage for intentional acts by that person such as theft or vandalism, and worse, there is commonly no liability coverage as most carriers deem short-term renting a business transaction. What if a guest was injured and sued both the owner and the manager?
The Proper Insurance policy not only covers intentional acts from a guest, but it carries commercial general liability which extends off the premise, and extends over the property manager as well. This equals superior coverage for both the owner and the manager.