Renters insurance, is it needed?

[Daniel Luedtke]

I have a seasonal Lakehouse rental, have been using a PM company the last couple years, as I live across the country from my rental, but have never had renters insurance. Nor have I ever thought about it. I am switching to a different PM company, and they suggest renters insurance. Does anyone recommend having renters insurance? It is a short term vacation rental. I had been using VRBO in the past, but new company is very established in the area for 20+ years, so they may ditch VRBO all together. Would love to get anyone’s thoughts on whether it is a good idea to have renters insurance, or is it really not needed? Have not had any issues in the 3 yrs we’ve owned it and rented it. Thoughts?

[Kevin Lefeuvre]

In all cases it's not a "renters' insurance" you need since you are not a renter. 

If you still use it as a secondary home, then you need a Homeowner insurance plus a STR endorsement (or "occasional rental").
If it's used only as STR, then you need a STR insurance.
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