Short-term Rental Insurance in North Carolina

A rental property policy needs to address specific issues

North Carolina is a popular destination for vacationers looking for short-term rental properties. A standard homeowners insurance policy only covers owner-occupied properties. It does not cover a home that is rented out to guests. Many insurance companies will not even knowingly provide a policy for short term rental insurance in North Carolina. They most likely focus on either long term rentals or homeowners. We work with some of the top companies who do.

Here are some questions to ask when considering a policy for your rental:

Mountains or coast: does it change your coverage?

North Carolina vacation rentals are unusual in their range: cabins tucked into the Blue Ridge and Smoky Mountains around Asheville, Boone and the Linville River area, lake houses, and beach rentals on the Outer Banks from Corolla down to Ocean Isle, with city rentals in Raleigh and Charlotte rounding out the mix. The risks differ. A mountain cabin faces winter-storm damage and long unoccupied stretches; a coastal rental adds wind and named-storm exposure. The policy need is the same either way: short-term rental coverage with liability for guest injuries and loss of rental income while storm damage gets repaired. An agent who insures vacation properties every day knows which carriers write each shape.

Buying a vacation home in North Carolina: second home or short-term rental?

If you are still shopping for the property, the insurance answer follows from two decisions. How often will you be there: extended seasonal stays, or short visits in a true vacation sense? And will you rent it out when you are away? A second home you keep for yourself takes a different policy than one earning weekly rental income, and a traditional homeowners policy is not built for either an absentee owner or a vacation rental. Renting by the week points to short-term rental insurance; annual tenants call for long-term rental coverage instead.

You need a policy for your rental properties that specifically addresses these questions. Rental properties are very common in North Carolina. For over 15 years we have insured thousands of short-term rental properties. Fudge Insurance is well-versed in the unique risks of short-term rental homes. “With clients in over 75 countries, we help absentee owners protect their short-term rental homes in North Carolina with coverage that fits their needs. Whether your rental property is in Asheville or The Outer Banks, Charlotte or Roanoke Rapids, Fayetteville or Boone, let us make your short-term rental insurance shopping a breeze.

If you have a vacation home rental property near any of the following cities, contact us today!

* Please note, we cover all of North Carolina