When you list your home on VRBO, a HomeAway company, you are putting someone in charge of taking care of your home while you are not there. Rental parties on vacation often consume alcohol and with alcohol involved anything could happen at your VRBO. Comprehensive insurance coverage provides protection for your property while your home is rented. It provides insurance protection for your building(s), contents, income, and liability. The coverage is in place when the VRBO is rented, and when it’s not rented.
When You Have the Right Insurance Policy, You Can Worry Less
Your VRBO property is a business and investment that needs to be protected by insurance. With insurance for VRBO you can have peace of mind knowing your property and liability is covered. In the event your home catches fire, you’re covered, in the event your personal property is stolen, you’re covered, in the event a guest is injured and claims you liable, you’re covered. Don’t rent your home on VRBO unless you have the right insurance coverage.
Watch Out! VRBO Liability Issues Could Cost You Serious Money
Are you one of the many property owners relying on their homeowner’s insurance for VRBO rentals? If so, you could be exposing yourself to one of the biggest problems most rental managers face: liability.
As soon as you choose to rent out your home to a guest, you’re immediately liable for their safety while they’re on your property. If your guest falls down the stairs, injures themselves on your patio, or worse – is assaulted, you can be held personally responsible. Even if you weren’t present at the time and the injury is of no fault of your own, your guest can still file a lawsuit against you. In situations like this, having appropriate coverage is critical to protect your financial wellbeing.
And with homeowner’s insurance, liability issues that arise because of vacation property rentals is typically not covered. Make sure you’re using liability insurance for VRBO before listing your property up for rent.