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Don’t Rent out Your Home Without the Right Insurance

Vacation Home and Income Property Insurance

More and more people are using services like VRBO and Airbnb to find vacation rentals.  As a result, many people are using their homes to develop rental income.  A standard homeowner’s policy may not cover losses incurred while your home is rented out.  You may require a more specialized insurance policy.

Key Homeowner’s Insurance Concerns With Rental Property

  • Your homeowner’s insurance will not cover rental property.
  • Landlord policies generally cost about 25 percent more than a standard homeowner’s policy to pay for increased protections. source
  • You need landlord insurance when you do not occupy the same residence as your tenant. You will also need landlord insurance if you are renting out your own home temporarily, or sharing accommodations such as your basement level, with a renter.
  • You will need liability coverage in the event your renter is injured on your premises.
  • Your policy will not cover wear and tear due to increased use.
  • VRBO, Airbnb and other rental sites may require proof of insurance.

There are only a few insurance carriers willing to write an Airbnb liability insurance policy.  We have experience with insurers who handle this kind of risk. You work hard to build a future for yourself and your family, and it’s important to protect what you already have while providing for a financially stable future for your family. Whether it’s protecting assets such as your home, automobile and valuables, or insuring that your family is taken care of should something happen to you, the professionals at Leap / Carpenter / Kemps are here to help.


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