Loss of use insurance claims for vacation rentals -- any luck?

[Villy Ellinger]

Has anyone filed loss of use claims through your insurance for vacation rentals impacted by the Covid-19 situation? Has anyone had any luck so far? I filed on two of my larger beach-front units. The governor of FL suspended vacation rentals and the beach (the biggest draw here) is closed. Add on the travel restrictions and that is definitely loss of use in my opinion. The insurance company said their are currently collecting info and have not decided yet how to proceed. I'm guessing they will have to pay out something at least in some cases, otherwise they will risk huge PR nightmare and people cancelling policies, etc. Anyone know anything or have experience with these claims?

[John Underwood]

Originally posted by @Villy Ellinger:

@John Underwood that might be true. But if they pay out $10,000 and increase the policy from $1,150 to $2,000 for the next year, wouldn't that still be better? My main concern is if insurances stop covering properties that do short-term rentals. I think Anchor Insurance completely moved out of coastal FL. But that is not something I can control. Even if I don't file, apparently everyone else here on the Panhandle is filing. I'm just trying to find out what sort of documentation/approach is getting people the best results, if any.

 They would raise your rates for the foreseeable future, not just one year.