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Does Your Homeowners Insurance Cover Your VRBO?

The sharing economy is on the rise in America with many people using their home for short-term rental property.

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

  • Homeowner’s insurance will typically not cover a home that is rented to others.
  • You will need liability coverage in the event your renter is injured on your premises.
  • Consult a local attorney who is knowledgeable in home rental laws in your area. Some cities have new laws that make it easier (or harder) to legally rent out part of your home if you’re not a licensed hotel or B&B.
  • VRBO, Airbnb and other rental sites may require proof of insurance.

There are only a few insurance carriers willing to write an short-term rental liability insurance policy.  We have experience with insurers who handle this kind of risk.  While sharing economy companies like Airbnb and VRBO offer a “master agreement” that seems to cover a lot, reviewing that with an actual insurance agent will always be in your best interest to ensure adequate coverage.

At Innovative Insurance we believe our greatest asset is the relationships we build with our clients and we are dedicated to being the right choice for all of your insurance and financial needs. We take pride in our ability to tailor a comprehensive insurance package that maximizes your insurance protection while minimizing money out of your pocket.