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Insurance for short term rental property

Posted by ronellis (My Page) on
Sun, Jun 27, 10 at 23:13

My current insurance agent quoted me a reasonable policy for the vacation home I'm building in Comal County, Texas.

It's in a very popular tourist area, so I was thinking about doing short term rentals - weekends, spring break, etc. When I told the agent this, she kind of freaked out. She says that no insurance company is going to cover for short term rentals. She's looking for a policy that will, but she is not optimistic.

I spoke to a rental agent who rents vacation home in the area, and she said the same thing.

Do any of you have any experience with insuring a vacation rental? Do most people just not mention it to their agent, and hope they don't get the claim denied if a renter burns the place down?

I really appreciate any advice you may have.

Follow-Up Postings:

RE: Insurance for short term rental property

We own a condo on Maui that we rent year 'round when we are not there. It's licensed. We employ a local full service agency to look after the condo and our guests. We employ a cleaner. Our insurance is through State Farm -- about $300/year for this 1 BR 2 bath 850 sq ft condo.

Perhaps your broker means there's no insurance against damages by guests? (We charge a refundable damage deposit. Have had to charge only two guests in 10 years.)

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