All Forum Posts by: Ryan Sappington

 Fair callout. I'm certainly there as much or more than its actually rented out. Think I did around 50-60 total nights last year, and will likely do something similar this year...60-80. We as a family visit any particular weekend its not being rented out during the non-frigid months, and even then many times. Not sure how they'd actually track that type of activity though regardless. Certainly wouldn't have much issue showing credit card statements of local restaurant/grocery/gas purchases in that area through the year, but that seems a bit asinine to track or even think they'd request. 

Got mine all straightened out w/ StateFarm thankfully, and they had admitted it all to be a false alarm. Nevertheless, fwiw I'm attaching the endorsement below for peoples review and thoughts. 

Right here with @Bennie Bernard quizzing and curious about the best insurance option for STR in Oklahoma, oddly enough. Left a message with StateFarm to get back with me yesterday, but guessing since they're intending to cancel me on not living there full time, they'll stick with their decision. Even if they didn't, very well may be another economical option out there anyhow, from what I've heard its Foremost? Anddd.... Proper is the premier and costly option?

Interestingly enough, I just got a piece in the mail today clarifying my cancellation of my policy from State Farm. "We are sorry that we cannot continue this insurnace therefore your policy will not be renewed...Material increase in hazard as evidenced by the fact that the residence is not owner occupied as required by our policy". And also noticed today my escrow (by way of tax bump), has increased nearly $2k. A real head scratcher I'm not pleased with one bit. A reasonable person would assume if my rental burned down a couple months ago they would've left me on the hook for it all, meanwhile paid for the coverage all year long. Just a hunch. What to do or where to go for new policy TBD

Awesome, very helpful, thanks! I attempted a very similar approach to say "look, im aiming to have this rented out for a third or up to half the year via AirBNB... and want that factored in for liability sake more than anything, not interested in any supplemental loss of rental income" .... she simply replied "Oh, ok, did not know that... good to know, I can up the liability to $1M to cover you in that regard, and add the 'Home Rental' package to it that is $271 annually". So, doesn't sound commercial IMO, but now I'm even more curious @Bruce Woodruff how much of a variance that is from what yours ended up being.   

I wasn't aware State Farm supplied STR insurance, but as I'm a longtime loyalist to them on main property and currently in closing process of first STR... getting quote and attempting to be specific on the approximate occupancy of outsiders, fingers crossed they're accustomed to it to some degree here (Oklahoma). $100/month avg seems wildly cheap though, and its potentially bc we're talking about different size/scope of properties? Mine=$600k lakefront, dwelling closer to half that...300-400k.