What Is The Vacancy Clause?

Nearly all vacation rental home insurance policies have what's called a 'vacancy clause' and it's important every owner understands it's limitation. Unfortunately, with the recent COVID-19 pandemic, most vacation rental owners have experienced a wave of cancellations, which means vacant properties, or at minimum unoccupied properties. What does this mean from an insurance perspective? No Coverage for Vandalism, Water Damage, and Theft If a property is deemed vacant at [...]

By |2020-03-26T14:29:13-06:00March 19th, 2020|General|

Denver, CO short-term rental $1,000,000 liability insurance requirement

Last spring, Denver implemented short-term rental regulations requiring hosts to maintain $1,000,000 liability insurance. Without sufficient liability insurance coverage and the subsequent short-term rental permit, hosts are not able to operate their business. Currently hosts are only permitted to rent out their primary residence, defined as: the usual place of return for housing. View the remaining rules governing short-term rental licenses.  The current guidelines for Denver short-term rentals include [...]

By |2020-08-17T11:50:09-06:00March 18th, 2020|Regulations|

Everything You Need to Do Before Becoming an Airbnb Host

With more and more people booking their spring and summer getaways, they’re turning to Airbnb for rentals over traditional hotels. If you live or have a home in a touristy city or a small vacation destination, you may have already considered becoming a host or even already signed up. Either way, before welcoming guests with open arms, you need to critically consider the unique opportunities and risks of operating [...]

By |2020-08-26T15:49:32-06:00March 16th, 2020|Home Sharing|

Kansas City, MO short-term rental $300,000 liability insurance requirement

We ended February by discussing the current short-term rental liability insurance requirement in Des Moines, IA, where hosts are required to provide proof of $500,000 liability insurance upon applying for a short-term rental permit. Kansas City may have a less strict regulation with $300,000 rather than $500,000, but they are on the same page with understanding the unique risks of short-term rentals and the need for insurance - especially [...]

By |2020-06-30T11:26:39-06:00March 12th, 2020|Regulations|

The Importance of ‘Loss of Business Income’ for Your Short-Term Rental

Ever wonder how your local coffee shop would survive if they had fire? The obvious answer is insurance, but while they likely have a policy to cover reconstruction, what about daily operations and revenue they’re unable to generate during rebuild? The answer is a coverage called Loss of Business Income, a standard protection on commercial policies.  So, what about short-term rental properties? After all, doesn’t your rental have income [...]

By |2020-03-10T12:22:29-06:00March 10th, 2020|General|

Vacation Rental Liability; What Every Owner Needs To Know

Most vacation rental owners do not fully understand the potential liability of owning a vacation rental. With over 40,000 vacation rental policies issued now, Proper Insurance® has become the nation's leading expert in vacation rental liability claims. If you have not yet had Proper perform a comprehensive coverage review and comparison, we highly suggest you do so. Get A Coverage Comparison Today #1 - $1,000,000 in commercial general [...]

By |2020-08-06T13:27:18-06:00March 4th, 2020|General|

Des Moines, IA short-term rental $500,000 liability insurance requirement

Last week we discussed the short-term rental insurance requirement enforced in D.C. Des Moines is another city requiring hosts to secure liability insurance at a minimum of $500,000. “Such coverage shall defend and indemnify the owner, any named additional insured, and any tenants in the building for their bodily injury and property damage arising from the short-term rental use.” According to the City, hosts may choose to secure this [...]

By |2020-03-02T15:10:41-07:00February 25th, 2020|Regulations|

D.C. short-term rental regulations include a $500,000 liability insurance requirement

In Spring 2019, D.C. joined the growing number of cities across the U.S. implementing short-term rental regulations, particularly those which include a liability insurance requirement. View the complete ordinance here.  The regulation includes the following:  24-hour emergency contact posted for each guest Current business license with a short-term rental endorsement Current liability insurance of at least $500,000 The City states the liability insurance can be provided by a booking [...]

By |2020-02-20T13:45:18-07:00February 20th, 2020|Regulations|

Bed Bug Insurance Coverage | Proper Offers Another Industry First

There is something about bed bugs that makes all vacation rental owners uneasy. Not only are they a nuisance, but they pose real property and liability concerns. With over 30,000 vacation rental insurance policies written, Proper Insurance has listened to its policyholders and delivered a first-of-it's-kind endorsement. $15,000 in bed bug extermination coverage with no deductible When bed bugs are discovered at a vacation rental, the first order of [...]

By |2020-08-14T13:12:55-06:00February 10th, 2020|General|

How to Improve Airbnb Renter Experience through Smart Devices

Before flyers, commercials, and pamphlets, people relied on word of mouth to know whether a brand was good or not. With today’s technology, word of mouth has advanced to reviews and testimonies. These reviews are crucial for any industry, but doubly so for those in the rental business such as Airbnb. The Medium reports that it takes around seven reviews before a customer trusts a business, and over 90% [...]

By |2020-08-27T10:58:54-06:00February 4th, 2020|General|
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