Do I Need Short Term Rental Insurance?

Knowing the suitable types of insurance products for your needs is crucial to making the right insurance choices. Here at Elliott & Associates Insurance, serving Opelika, AL, and the surrounding areas, we are committed to helping you make wise insurance choices. Keep reading to learn more about short-term rental insurance. 

What Is Short-Term Rental Insurance?

Short-term rental insurance is a special type of insurance product created for property owners who rent their properties out to paying guests. This can include individuals who own vacation rentals or properties they offer on apps such as Air BnB, Homestay, and others. 

What Does Short-Term Rental Insurance Cover?

This type of insurance coverage will protect your property in the event of damage that happens during a rental stay. It can also cover other types of liabilities as well. These include:

  • Loss of income 
  • Excessive use of utilities 
  • Infestations 
  • Identity theft
  • Liquor liability 

Does This Coverage Protect My Belongings At The Property?

This type of coverage is often added to your regular homeowner’s policy. Your personal belongings would already be covered under your standard homeowner’s policy, but you can request additional coverage if you want.

How Much Coverage Do I Need?

To determine how much coverage you need for your properties, you will need to sit down with an insurance expert. This professional will be able to discuss the value of your property and personal belongings at the property to help you determine the right insurance policy. 

If you want to learn more about short-term rental insurance, please get in touch with us at Elliott & Associates Insurance, serving Opelika, AL, and the surrounding areas. We will be happy to answer your questions.