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Short Term Vacation Rental Insurance: Everything You Need To Know

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We know Insurance is boring, but it's important to have the RIGHT
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Introduction

If you are planning to rent out your vacation home for short term stays, it is important to consider getting short term vacation rental insurance. This type of insurance is specifically designed to provide coverage for rental properties that are rented out for periods of less than 30 days. In this article, we will discuss everything you need to know about short term vacation rental insurance.

What is Short Term Vacation Rental Insurance?

Short term vacation rental insurance is a type of insurance that provides coverage for rental properties that are rented out for periods of less than 30 days. This type of insurance is different from traditional homeowners insurance, which typically does not provide coverage for rental properties.

Why Do You Need Short Term Vacation Rental Insurance?

Short term vacation rental insurance is important because it provides protection for your rental property and your guests. Without insurance, you could be liable for any injuries or damages that occur on your property during a guest's stay. Additionally, short term vacation rental insurance can provide coverage for lost rental income if your property becomes uninhabitable due to a covered loss.

What Does Short Term Vacation Rental Insurance Cover?

Short term vacation rental insurance typically provides coverage for the following:
  • Property damage
  • Bodily injury
  • Lost rental income
  • Liability

How Much Does Short Term Vacation Rental Insurance Cost?

The cost of short term vacation rental insurance will depend on a variety of factors, including the location of your property, the size of your property, and the amount of coverage you need. On average, you can expect to pay between $500 and $1,500 per year for short term vacation rental insurance.

How Do You Choose a Short Term Vacation Rental Insurance Policy?

When choosing a short term vacation rental insurance policy, it is important to consider the following:
  • The amount of coverage you need
  • The deductible
  • The cost of the policy
  • The reputation of the insurance company

Where Can You Purchase Short Term Vacation Rental Insurance?

Short term vacation rental insurance can be purchased from a variety of insurance companies, including major insurance providers and specialty providers that focus specifically on vacation rental properties.

What Should You Do if You Need to File a Claim?

If you need to file a claim on your short term vacation rental insurance policy, you should contact your insurance company as soon as possible. They will provide you with instructions on how to file a claim and what information you will need to provide.

Conclusion

Short term vacation rental insurance is an important investment for anyone who rents out their vacation home for short term stays. It provides protection for both your rental property and your guests, and can give you peace of mind knowing that you are covered in the event of a covered loss. When choosing a policy, be sure to consider your coverage needs, the cost of the policy, and the reputation of the insurance company.

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