A Rental Property Policy Needs to Address Specific Issues
Whether it is homes for rent in Memphis or Miami, it is important that you have the right coverage to support you in your move to a new rental. A standard homeowners insurance policy covers owner-occupied properties. It does not cover a home that is held out for rental or is not owner-occupied. Most insurance companies will not knowingly provide a policy for a short-term rental home. We work with the best companies who do. If you are living in student housing it might be worth contacting somewhere similar to A+ Student Housing for more clarity on what kind of insurance you actually require.
- Do you rent your home out weekly or monthly?
- Do you occupy your second home or vacation home intermittently or non-continuously?
- Do you furnish this second home for short-term renters? Or do you leave it empty for long-term tenants?
- What will protect your home against perils like vandalism when your vacation home is unoccupied?
You need a policy for your rental properties that specifically addresses these issues. Rental properties – be it second homes or short-term rentals such as these StayTony short term rentals Hollywood – are common in Florida and other states. 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 77 countries, we are experienced in giving peace of mind to absentee owners by properly covering their short-term rental homes in Florida, North Carolina, Tennessee, Texas and more. Let us make your short-term rental insurance shopping a breeze and give you peace of mind. Contact us now.
Dwelling Fire insurance covers damage and legal liability for homes that are not typically owner-occupied or are owned by a corporation or LLC. This includes coverage for:
- Single-family homes, condos, apartments
- Second homes and vacation homes
What It Covers
- Any sudden or accidental loss or damage unless otherwise excluded
- Houses that are not occupied by the owner (or occupied on a part-time basis)
- Clean-up after a loss, such as after a natural disaster
- Unattached structures such as sheds, detached garages, barns, greenhouses, etc.
- Some coverage for loss of use or loss of rent in the event that the home becomes uninhabitable
- Third party liability coverage
Protection against damage from floods and earthquakes will have to be purchased as a separate policy.