AirBnb/STR Home Owner's Insurance

[Dylan F.]

Morning y'all - I am closing on a home in Arlington, TX that will be used as a short term rental. This is my 2nd property/1st investment property, so I was wondering what insurance carriers/rates I can expect on a 1600 sqft home (w/ a 700 sqft detached shed that will be converted to living space) in 76011 area code.

Obviously, I realize home insurance policies from home to home can vary dramatically.. I am just looking for a ballpark number. I talked to my insurance broker, and he came back to me with a quote for about $2200/year.

Also, is there any "must haves" in terms of specific coverages that you would need for an STR that you wouldn't normally have for your primary residence? I requested loss of income insurance, and increased my liability coverage already. Anything else?

Please comment with your thoughts. I appreciate y'all's help!

Dylan

[Michael Baum]

Hey @Dylan F., you must go with a STR policy. We use Proper but CBIZ and Foremost offer them as well. Check with your current broker and see what they might have.

DO NOT use a standard home owner or even a LTR insurance policy. STR are special and require the right insurance to make sure you are covered.