Short Term Rental Insurance

[Steven Correale]

I have a property that is two single family houses on one lot. I want to rent one to a long term tenant and I want to furnish the other property and rent it to travel nurses or traveling workers.

Does anyone know an insurance company that will insure a “short term” rental in Massachusetts? What is the definition of short term? My current insurance company will not insure the property for that use even if it is a 90day lease with the same background and credit check as the long term tenant. This will not be listed Airbnb or VRBO.

I am do not see the added risk to become uninsurable with 90-day leases and can not get a written explanation from underwriting, so it is time to move on.

Thanks,

Steve

[Brandon Labordus]

Proper was the very first player in the STR market - they had the only product that specifically targeted STRs for a while and we all used them. Unfortunately proper has become so popular in the STR arena that their prices have exploded. Definitely get a quote from them but I'm finding their prices to be laughable compared to other insurers. A lot of us in Gatlinburg started using Brightway. They have a STR product that is much more competitive. Not sure if it is available nationwide though. May be worth checking out.