STR Insurance Policy Limits

[Alex Banyasz]

I am working on getting quotes right now and hoping to get some feedback and what is a must. How much for personal property and loss of income? How much for liability?

Basically, I don't want to just get the bare minimum I need for lender, but.I actually want to get something worthwhile if things go wrong

[Alex Banyasz]

Quote from @Sarah Kensinger:

Quote from @Alex Banyasz:

Quote from @Sarah Kensinger:

Most city/county regulations want no less than 1 million in liability, so we require that for any clients. Personal property should be what the furnishings are worth, and I would do around 6-9 months for loss of income. In many ways I think the last two items are more personal preference. 

 No hard and fast requirements, but I'd love to have a milly. May have to go with one of the quotes I received for 500K and bridge the gap elsewhere.

Wouldn't be hard to hit a million with Proper insurance at all! At this time, I believe they are accepting new properties in FL, but the rate may be high. You shouldn't need any umbrella insurance with Proper since they offer everything in one, but you have the option to up the liability as well. 

 Thank you! I've reached out to them for a quote. I have a quote right now that's sitting at about 3K that I'm pretty happy with, but liability is only 500K. They did say they have umbrella policies that can bridge the gap