Insurance for Short Term Rentals

[Claude Florvil]

Hello, I have a 2 unit property and would like to use one of the units for short term rentals. I understand that I may have to use a commercial coverage or landlord/dwelling coverage insurance plan. But commercial coverage is more comprehensive for short term rentals. WIll it also cover the unit where I have a long term tenant? Or do I need two (2) insurances? Please let me know your thoughts? Thank you!

[Jason Bott]

Quote from @Claude Florvil:

Hello, I have a 2 unit property and would like to use one of the units for short term rentals. I understand that I may have to use a commercial coverage or landlord/dwelling coverage insurance plan. But commercial coverage is more comprehensive for short term rentals. WIll it also cover the unit where I have a long term tenant? Or do I need two (2) insurances? Please let me know your thoughts? Thank you!

If both units are in the same building and situated on the same parcel of land, they will need to be insured with a single insurance carrier. This insurance carrier would then add an endorsement on the second unit to cover the exposures of the Short-Term Rental (STR).