Proper Insurance® is the U.S. leader in Vrbo insurance, having earned the exclusive endorsement from Vrbo as their preferred vendor for comprehensive commercial homeowners insurance. With over 50,000 policies written across all 50 U.S. states there is no question Proper leads the industry. This is done by offering a superior product accompanied by outstanding service.
VRBO Insurance
What Is Vrbo Insurance And Why Do I Need It?
When you entrust your vacation rental property to a paying guest, giving them the keys to your home, insurance contracts begin to break down. Coverage for things such as vandalism or damage caused by that person is simply not covered for the costs of a claim. The only way to get covered is through a company offering a specialty insurance policy, one that can entirely replace the coverage you have. Bodily injury of a guest is also a huge concern as the Vrbo owner can ultimately be held liable. Simple endorsements or riders to a homeowners or landlord policy are not enough, you need to be covered by specialty commercial general liability insurance. Proper’s policy is designed to cover you by entirely replacing your current policy, and providing instead comprehensive Vrbo insurance coverage for the costs of a claim against both property and liability. |
What You Need To Know About Vrbo Vacation Rental Insurance
(proper.insure) Insurance is a contract and not all contracts are created equal. Most property owners are looking to save money on their insurance. What they should be doing is working with an travel insurance company, such as Proper, who pointing out the hidden exposure on being covered while operating a short term rental. With thousands of host insurance claims paid to date, we know the exposure.
Insurance premiums are based on risks, actuarial data, and claim history. An Insurance company needs to collect more in premium than they pay our in claims. Unfortunately, most large domestic insurance carriers run national advertising campaigns claiming to save you money if you switch. Do they save you money and provide you more comprehensive coverage? The answer is no, especially when it comes to your short term rental property.
Vacation rental property owners need no limit on damage caused by a travel guest. Total losses happen from accidental fires all too often, especially if your home has a fire place or old wiring. Your rental property is a big asset and that’s the biggest property exposure you have. Other smaller guest exposures would be vandalism, theft, back up of sewers and drains, or even bed bugs.
Commercial general liability is a must have coverage for Vrbo insurance. Every day travel guests get injured in vacation properties and without bullet proof liability coverage you are exposed. Not only does your liability insurance need a minimum of $1,000,000 per occurrence, but it needs to cover legal defense above and beyond the occurrence limit. The U.S. is a litigious society and frivolous lawsuits are filed every day, but you still need legal defense.
For additional details and resources, please visit Proper.Insure or click the links below