Do I need different insurance for STR vs long term rentals

[Bob Anthes]

I'm in the process of converting my long term rentals into STR in FL and NC. Do I need additional or a different insurance policy being my homes are now STR?

[John Mocker]

Bob, 

Kathy has the right advise, call your current Insurance Agent.  Ask if the current Insurance company will (do this in writing):

1. Insure the STR on the current policy without changes

2. keep the current policy but add an endorsement (if so, what cost)

3. cancel due to the STR. If so, when (at the change to STR or when the policy expires)

If it is #3 then you need to get quotes for the STR.

They may need more info on the STR. Are you doing daily, weekly, or monthly rentals. Will the rental happen all year or just part of the year, etc. I have found that what an Insurance company will accept for STR situation varies. We have some carriers that will only do it based on the maximum number of weeks (ie. 8 weeks a year). Others may only do it if you are renting for a week minimum but have no max. on the number of weeks per year.