Florida STR insurance req if airbnb and vrbo provide it already??

[Rachel Payton]

We're set to close on our STR in Florida in a couple days. Getting insurance on it was a nightmare. Several quotes, all over the map on price. I basically got a policy last minute that is VERY expensive (it's Florida, I get it) my question is about what I actually need covered. I'm getting conflicting info and just need clarification. I was told by my lender I am required to have windstorm protection. That makes sense. But we are financing this as an invesent property and intend to STR all year except the few times we'll vacation there. I'm hearing that I can just do a normal homeowners policy with windstorm because airbnb and vrbo have insurance for guests who book through them.

I'm not worried about the theft and damage from guests if the booking sites cover them. What I AM worried about is if a hurricane causes a ton of damage, will my property, that i mainly use as an STR, actually be covered with just a homeowners policy? Can I actually get just a homeowners policy and NOT an STR policy and save some money???

[Sergey A. Petrov]

You need proper coverage with STR, windstorm and other coverages outside of and in addition to whatever AirBnB, VRBO and the like tell you they'll give you. Or bare bones cheap coverage to satisfy the lending requirements with you self insuring other potential casualties (e.g. terrorism is a common add on that most people decline to purchase)