Insurance for Properties on HomeAway can Protect Your Home and Liability

Most property owners who rent their vacation homes on HomeAway carry either a homeowners or landlord insurance policy, both of which exclude business activity. It’s widely accepted in the insurance industry that renting a vacation home on HomeAway for less than 30 days at a time is considered a business transaction. The HomeAway guest has compensated the owner in the form of money in exchange for the use of the home, this is typically considered a  business.  What if a guest accidentally set fire to the vacation home, or worse was seriously injured at the property during their short-term stay?  Insurance for a HomeAway rental has never been more important.

A Comprehensive Insurance Policy for HomeAway owners is the Right Solution

Insurance that is comprehensive typically means coverage for both property and liability.  Property damage is coverage for the actual property from fire, wind, vandalism, water damage, theft, and much more.  Liability insurance coverage is for bodily injury or property damage that the owner of the property could be found liable for.  An owner who rents their property on HomeAway needs both types on insurance, or a comprehensive insurance plan, and it needs to NOT exclude business activities.  The only full proof solution is to purchase a commercial insurance policy for your HomeAway rental.  One that will respond to both property and liability insurance claims.

HomeAway Coverage Isn’t Just a Smart Idea…It’s the Law

If you’re located in one of many states that require business insurance for property rentals, then liability and property coverage for HomeAway rental isn’t optional. And remember: your homeowner’s insurance does not cover property rentals. That means if you’re renting out your home without coverage, you’re exposing yourself to some serious risk. Besides being a potential legal requirement in your statement, having adequate insurance is a smart move. It keeps your finances safe, protects your home, and protects your business. Why not get started with your own coverage plan today?

HomeAway Insurance

Remember that once you chose to rent your property to others, your actions are considered a commercial venture. This means that anything that may happen to your property or guests will ultimately fall on you as the business proprietor. Rather than leaving things to chance or fate, protect yourself with the finest insurance in the industry with Proper Insurance underwritten by Lloyd’s of London. With up to 3 million dollars of aggregate liability coverage, you can rest easy knowing that you are covered for whatever comes your way.

Are You Paying Too Much for HomeAway Insurance?

If you’re renting out your property on HomeAway, maybe you’ve signed up for an additional coverage plan to protect your property. Unfortunately, many of these plans only cover property damage and not liability. Liability is a serious concern for property owners who rent out their home on HomeAway and other services. For example, if a guest is injured, you could be legally responsible for their medical bills and other related expenses. Without adequate liability coverage, you’ll need to pay for your own legal defense and potentially theirs as well!

Another problem with separate plans is that they can become costly overtime. At Proper Insurance, we offer one all-inclusive plan that replaces your homeowner’s coverage and other property insurance plans you may have. As a result, you only have to pay for one plan. This helps keep costs low and reduces the headache of managing multiple insurance plans at one time.

Proper Insurance Recognized as Homeaway’s Preferred Comprehensive Insurance Vendor

While HomeAway’s liability insurance applies to liability claims only, Proper’s policy is commercial homeowners insurance – providing coverage for all satays within your vacation rental property, regardless of the source of booking or how the reservation was processed. Unlike HomeAway’s policy, it covers damage from renters, natural disasters, loss of income AND liability.