What gaps in coverage do Host Policies leave behind?
Listed directly on popular short-term vacation rental sites, “Host coverage protects you from check-in to checkout”. So when you are in between renters and mother nature strikes, or a thief breaks in and vandalizes your property, you wouldn’t have coverage. What if there is an accident and someone gets hurt or worse, dies? Host insurance MAY go into effect only once you are found legally responsible. As we all know, litigation doesn’t resolve itself overnight and you are now facing the loss of income and personally paying for legal fees until a verdict is decided.
Why do you Need Short Term Vacation Home Insurance?
Evelyn had always dreamed of owning a vacation home by the beach. After years of saving and planning, she finally found the perfect property to buy. The beach house was beautiful, with large windows providing stunning ocean views. In addition, it had plenty of room for her family to gather and relax during vacations.
But an intense hurricane hit the area just a few months after purchasing the property. Although the storm didn’t directly hit the vacation home, the wind and rain caused significant damage. In addition, a large tree fell onto the roof, causing leaks and water damage throughout the house.
Evelyn was devastated. She had put so much time and money into the property; now, it needed extensive repairs. She quickly realized that the cost of fixing the damage would be much higher than she had anticipated.
Fortunately, she had purchased short-term vacation home insurance before closing the property. This insurance policy covered the costs of repairing the damage caused by the hurricane. The insurance company worked quickly to assess the damage and provide the funds needed to make the necessary repairs.
Thanks to the insurance, Evelyn could restore her vacation home to its former glory without breaking the bank. She learned that having the right insurance coverage can make all the difference in the world, and she never went a day without insurance on any of her properties again.
Ask our trusted advisors about bundling your home, auto, and short-term rental property for even greater discounts and savings.
