STR Insurance - what is best?

[Susan Barlow]

My husband and I just had our offer accepted for our first STR. We currently have one LTR. As I am researching insurance for STR, is it better to go with Proper Insurance, who claim to be the only STR out there (I have not reason to doubt that claim), or is the standard Rental Dwelling coverage from any number of companies enough. The quote difference is double. I am not unwilling to pay the extra if those with experience believe it to be prudent. I plan to list property through Airbnb, which offers some coverage as well.

[Bruce Woodruff]

Proper may be the 'only' STR Insurance only company out there , but they are not the only company that offers insurance for STRs. Ask your current homeowner's carrier, but make sure you tell them specifically that you are intending to operate a vacation rental. I even threw in the term 'AIRbnb type property' to make sure they understood. Some of the larger carriers do indeed offer insurance for STRs and their prices are substantially lower as you noted. Ask around, just make sure you disclose your actual intent for the property.