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 well-being.
And with homeowner’s insurance, liability issues that arise because of vacation property rentals are typically not covered. Make sure you’re using liability insurance for Vrbo property owners before listing your property up for rent.