Hollywood, FL made a number of changes to their short-term rental ordinance after revisiting requirements in January. New and veteran hosts faced a deadline of March 1, 2021 to comply with the following changes to Airbnb laws in the city:
- Short-term rentals are subject to parking limitations and trash container requirements
- Hosts must install a noise level detection device at the property
- Hosts must submit proof of short-term rental liability insurance
We’ve noticed an increasing number of short-term rental laws including some type of liability insurance requirement for hosts. The “Diamond of the Gold Coast” defines their particular liability insurance requirement as follows:
“A certificate of insurance evidencing insurance coverage to cover liability for injury or harm to occupants and other invitees, and acknowledgment that such liability coverage will be in effect at all times while the property is being used as a vacation rental, as evidenced by replacement certificates of insurance to be provided to the city as necessary, and a standard homeowner’s or renter’s insurance policy may not necessarily provide such liability coverage while the property is used as a vacation rental.“
Hollywood specifically requires hosts to secure and provide proof of appropriate coverage for their Airbnb and encourages hosts to make sure they have the right policy, as “a standard homeowner’s or renter’s insurance policy may not necessarily provide such liability coverage” as defined in the ordinance.
Insurance is often confusing, and with Airbnb laws cropping up across the nation, it’s more important than ever for hosts to understand the coverage they need and how to comply with local Airbnb laws.
Questions to Ask Your Current Agent about Short-Term Rental Insurance
Most insurance agents aren’t experts in the vacation rental industry and have a plethora of carriers to choose from. Some carriers offer a rental endorsement which only allows for the occasional rental of your property. Other carriers offer a dwelling landlord policy branded as vacation rental insurance, and some offer actual commercial insurance.
It’s recommended you get the following statement verbatim and answered in writing from your agent:
“If I regularly entrust my property/vacation home to a paying vacation rental guest for a period of less than 30 days, and that guest damages, steals, or is injured at my property; do I have property and liability coverage?”
Quote Your Airbnb Today
Interested in a policy to protect you and your business from liability and damage claims? Proper Insurance leads the Nation in short-term rental insurance, with over 40,000 policies written in all 50 states. Backed by Lloyd’s of London and exclusive endorsements from short-term rental leaders such as HomeAway and Vrbo, Proper Insurance is built on world-class insurance coverage.