Short Term Rental Insurance - Umbrella Policies

[Keith Winkelmann]

I have a beach house that we are hoping to put on the STR market in Port Bolivar. Besides the the AirCare coverage that Air BNB Offers, are you guys adding any STR riders to regular insurance/flood/wind? If so, what kind? Are umbrella policies the same as STR riders? Thanks

[Michael Baum]

Holy cow @Keith Winkelmann! You absolutely need a STR policy. Aircare isn't insurance at all. It is something AirBNB offers to cover something a guest might do.

I can't stress this enough. Call a good insurance broker and see what they can find. Call Proper or Foremost and get a quote. You need a STR policy. Not a land lord, homeowers etc.

Now, there are some providers that do provide special riders they add to their home owners policies etc but look at the coverage and make sure it works.

Is your place on the water? Chances of flooding? I would expect hurricanes make some kind of appearance once in a while. You would want wind for sure. Flooding maybe.

Those aren't included in most insurance policies so if there is any chance you might have damage from either of those, then you need to add it.

An umbrella policy is a good idea overall. It isn't very expensive once you have everything else in place.

Get a specific short term rental policy. DO NOT RELY ON AIRBNB or VRBO. It isn't insurance.