Short-Term Rental Insurance Designed For Vrbo® Owners
Proper Insurance® leads the Nation in short-term rental insurance, with over 30,000 policies written in all 50 states. Backed by Lloyd’s of London and exclusive endorsements from vacation rental leaders such as HomeAway® & Vrbo®, our company is built on world-class insurance coverage. Welcome.
Replace your homeowner’s or landlord insurance with Proper Insurance®
Our policy covers vacation homes, townhouses, condos, duplexes, cabins, cottages, apartments and more. With expert vacation rental underwriters we can tailor a policy specific to your short-term rental property.
One policy that covers both commercial and personal use of your vacation rental
Short-term vacation rentals do not fit into one insurance category, so we worked in parallel with Lloyd’s of London to tailor a specialty policy and sell it directly to vacation rental property owners in the U.S.
Policy Highlights: Insurance For Short-Term Vacation Rental Owners
The Proper Insurance® policy replaces the property owners current homeowner’s (HO) or landlord (DP) policy. It is written a business policy, giving the short-term vacation rental owner comprehensive coverage for their building(s), contents, commercial business liability, and business income. It also includes personal liability when the short-term or vacation rental “doubles” as the owners primary residence.
The challenge was quadruple use or occupancy of the properties; as most vacation rental properties are used for commercial short-term rental use, personal use, at times unoccupied, and some have guests or tenants for over 30 days. With trademarked endorsements, the Proper Policy covers you and your property for all four uses.
Think of it as a homeowner’s policy, a landlord policy, and a business policy all wrapped into one!
It’s all-inclusive insurance that was custom-penned with Lloyd’s of London and covers the unique risks associated with short-term vacation rental properties. It’s the most comprehensive insurance available on the market today so you can have peace of mind. Offered in all 50 states.
- Underwritten by Lloyd’s of London, AM Best’s Rated A
- Commercial Package Policy: coverage for building(s), contents, liability, and income
- Suffices for all STR proof of insurance requirements
- No vacancy or standard occupancy restrictions as found on homeowner’s and dwelling policies
- Sole Props, Corporations, Partnerships, LLC’s, Trusts, accepted as named insureds
- Designed to entirely replace the current coverage on the property
- Expert underwriters available for coverage in all 50 states
- $1,000,000/$2,000,000 in commercial general liability (business liability)
- $1,000,000 in personal and advertising injury
- Liability extends off premise and continued over amenities: swimming pools, hot tubs, bicycles, small watercraft, rec areas + more
- Enhancement coverage for animal/pet, liquor, assault/battery, abuse, molestation, and invasion of privacy
- $2,000,000/$3,000,000 limits available for commercial general liability and personal and advertising injury
- Includes legal defense
- Special cause of loss (all-risk) with replacement cost valuation
- Enhancement coverage for damage to the building(s) and contents caused by a guest, including theft
- No limit on damage caused by a renter
- Loss assessment, debris removal, and back-up sewer and drain
- Any coverage limit
- No limit on theft
- Full ordinance or law (optional)
- Bed bug enhancement (optional)
- Special cause of loss (all-risk) with actual loss sustained valuation
- Pays on revenue vs income
- Any coverage limit
- No time limit
- Bed bug enhancement (optional)
Read What Vacation Rental Owners Are Saying About Proper Insurance®
The Proper Insurance® program was launched in 2014 and to date we’ve written over 30,000 policies. Insurance is a contract and the strength of that contract is defined by claims paid and customer service provided. We are proud to insure short-term vacation rental owners across all 50 states and stand behind our Lloyd’s of London insurance policy. Please take a minute to read a few highlighted reviews below or feel free to visit our full reviews page.
How do you review brilliance. I’m still in shock from the trauma and teams it took to keep our home safe. This insurance company is not just insurance company they have now become part part of our family. They watched over us, they protected us, and they asked how we were doing. When I arrived with only a few days to see my house, I saw the two firefighters in our garden collecting their hoses, and all I could do was burst into tears. My review was only thank you thank you thank you for saving our home!Kim Kieler
In a summer lost to a 60,000 acre wild fire that mandated evacuation of my resort area vacation rental and closed all access for over 20 days; all June reservations and most of July were cancelled. The only bright spot in that period, beside no loss of life or property, was the speed, efficiency and professionalism with which my lost income claim was handled. I’m very grateful to Jerod and Proper insurance for their help in getting through this rough patch.Mark Buono
While we used Proper Insurance for a previous rental, we had only recently purchased it for a new large vacation rental when the washing machine broke after just a couple of weeks and resulted in over $200K of damage. Proper was professional, prompt and very helpful throughout the construction process and remittances. We are extremely pleased with Proper!Steve K
Vacation Rental Insurance In 3 Minutes: Over 30,000 Polices Written
The team at Proper has put together a great video that outlines our policy highlights. Because short-term vacation rentals do not fit into one insurance category, Proper had to develop a unique policy which addresses four occupancy types. This video will help demystify short-term rental insurance and shed some light on our solution.
HomeAway® & Vrbo® Exclusive Endorsement
HomeAway® and Vrbo® are world leaders in vacation rentals and have recognized Proper Insurance® as their premier vendor for comprehensive short-term rental property and liability insurance. Vacation rentals owners and their properties are at the core of the brands, and they wanted to make sure you and your property are protected. Nothing is more important.
The Proper Insurance policy includes coverage enhancements no other insurance carrier offers, and had the vacation rental owner in mind during the development with Lloyd’s. This HomeAway and Vrbo endorsement is a testament to the coverage and claims service provided.
Many other vacation rental industry companies recommend Proper, so learn more and visit our network page.
Proper Insurance® from Lloyd’s of London
Lloyd’s is the world’s specialist insurance and reinsurance market, bringing together an outstanding concentration of underwriting expertise and talent. It is often the first to insure emerging, unusual and complex risks.
Around 80 syndicates are underwriting insurance at Lloyd’s, covering all classes of business. Together they interact with thousands of brokers daily to create insurance solutions for businesses in over 200 countries and territories around the world. Lloyd’s insures the majority of FTSE 100 and Dow Jones industrial average companies.
Lloyd’s success has been built on its reputation for paying all valid claims. The claims service provided to policyholders remains a cornerstone of the market’s business.”
- Lloyd’s enjoys strong financial security supported by excellent ratings. Visit Lloyd’s for detailed information.
- Proper Insurance® is a Coverholder at Lloyd’s. There are only 4,000 Coverholders in the world.
The Short-Term Vacation Rental Rule of 3
The team at Proper Insurance® is a collaboration of individuals with 50+ years experience in niche insurance. We have experts engaged at all levels of the vacation rental industry and understand the risks involved. The Proper short-term rental insurance policy was written with one thing in mind, YOU, the property owner. What are the risks and exposure involved and how do you properly insure them? We currently insure vacation homes, duplexes, townhouses, condos, cabins, apartments, and more.
Liability, Building & Contents, And Business Income Coverage
LIABILITY: The single biggest exposure you have as a vacation rental owner is liability. When you open your door as the owner, you are also opening yourself up to liability risk. This liability risk is there whether you are simply renting a downstairs apartment or your entire property. What if a guest were to injure themselves while staying at your property? What if you were found to be liable? Maybe the shower was not thoroughly cleaned, and a guest slipped on soap scum? Or worse, the vacation rental caught fire and resulted in a guest’s death. The Proper Insurance policy automatically provides $1,000,000/$2,000,000 in commercial general liability. You are covered. And, when the vacation rental also “doubles” as your primary residence, 1,000,000 in personal liability is included in the policy.
BUILDING & CONTENTS: The second biggest exposure you have as the vacation rental owner is the actual property itself (building and contents). What if a guest were to accidentally start a fire and burn your property down? Or steal/damage your contents? The Proper Insurance® policy insures your building and contents as a business (commercial form) with replacement cost (new for old) on special form (all risk). The reason Proper uses a commercial form is because there are no standard occupancy restrictions as in a homeowner’s policy. This means at the time of a covered loss, the property can be occupied by you the owner, friends or family, paying guests, or even be vacant as we remove the vacancy clause. It’s the only way for a vacation rental owner to properly insure their building and contents.
BUSINESS INCOME: Another big exposure you have is lost rental income, or business income. You have worked extremely hard to turn your property into an income generating short-term vacation rental business. What if a tree fell on your roof and you could no longer rent your property for the summer? Or worse, you had a total loss on the property as a result of a fire or hurricane? You need to protect the income your vacation rental generates. The Proper Insurance® policy insures your vacation rental income as “actual loss sustained” with no time limit, what this means is you are only subject to the limit of insurance you choose for your insurance policy. Some owners only insure $10,000 while others elect to insure $250,000. It’s your choice as income varies significantly between owners.
Still Have Questions?
Fundamentally, when you rent your property to a paying guest, you give them the keys and entrust your property to others. When this happens, traditional insurance breaks down. For a detailed review of commonly asked questions regarding short-term rental insurance please visit our FAQ page.
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