Do I need special insurance for my vacation property if I want to rent it out?

The answer to this is yes! Most vacation rental owners carry either homeowners or a landlord insurance policy, both can have coverage gaps. 

Homeowners is designed for a owner-occupied property. 

Landlord insurance is designed to be tenant-occupied.

Vacation rentals typically have triple use throughout the year - paying rental guests, owner and possibly unoccupied at times. 

Vacation rental insurance policies can cover all three scenarios. 

Some insurance carriers offer a rider that allows for "occasional" rentals and offer limited property and liability coverage. The problem is the limited coverage. Most vacation homes that are rented have guests regularly but not occasionally so any claim could be denied and is subject to carrier interpretation. 

If you regularly rent your vacation home, them you need business insurance. 

You need to inspect the actual terms of the insurance contract to make sure you are covered. 

What you want is a comprehensive policy that means there is coverage whether it is being rented, vacant and/or being used by the owner and their guests. 

Everyone loves to have somewhere to go away to! 

Talk to an insurance agent today to ensure you have the proper coverage but that you are spending extra money by being "double" insured either. 

Keeping you protected.

Rick

All Access Insurance in Littleton, CO,  who represents multiple insurance companies as a “Broker”and provides products for auto, home,  commercial, workers compensation, and much more! Call us today for a free quote at (303) 932-1700.