Insurance for short-term rentals?

[Brian Kantor]

Hi, everyone. Most of my experience lies in the longterm rental property world, but we just picked up a short-term rental in Vermont and are going through the process of getting it ready to go.

The property cost about $415k, and my insurance quote for homeowners + liability was about $4k, which seemed high to me.

Obviously insurance quotes vary greatly by policy, but wanted to get a sense as to what others were paying and what provider they used.

I am used to long-term rental policies, which seem to be less expensive.

Thanks in advance!

[Marcello Di Gerlando]

I use Proper insurance, unwritten by Lloyds of London, for my STR - covers the extra issues you would expect from an STR like vandalism, alcohol liabilities, business interruption up $10k, hot-tub cooties etc. It's a commercial policy so I pay a little extra but vey much worth the expense. I made a fair size claim last year and it paid off pretty painlessly except for the 90 day lag. highly recommend them.

If I had used a regular home owners policy with and STR addendum I'm pretty sure it would not have covered my particular issue.