Ward, Hayden

Reviewing Your Vacation Rental Insurance Annually

Reviewing Your Vacation Rental Insurance

It may be that time of year to renew your vacation rental policy or simply assess your current insurance situation. Even in the off-season, having a strong, comprehensive policy is key to keeping your business safe from the unforeseen. This coverage is designed to protect your rental property, yourself, and your business. Once money exchanges hands — short-term rental insurance should take the place of a standard homeowners’ policy.

Why You Should Keep Your Policy Year-Round

Your livelihood is dependent on the survival of your business, you must protect it against any potential threat — big or small. For instance, a fire could destroy your property and the contents inside, or a burst frozen pipe could keep guests from staying at your rental for weeks.

Limiting your risk keeps liability claims and potential losses in check. While some occurrences will be beyond your control, being proactive can go a long way toward keeping your risks and liability hazards at a minimum.

When preparing your property for the off-season, for example, doing things like performing safety upgrades and other enhancements to your property are all risk management precautions that will have your property in tip-top shape once peak season fires up again. Being proactive and taking common-sense precautions also help lower your risk of loss related to property damage, theft and vandalism, as well as personal injury.

However, the best way to mitigate risk year-round is to have an insurance policy that fits your vacation rental needs. It’s hard to predict the unforeseeable future, especially during a time when there are more vacancies.

Insure Home Improvements

When making a major change to your vacation rental property, it is important to talk to us about insuring those changes. Be sure to let us know the specifics to ensure you have adequate coverage. If you decide to build a deck or put in a pool at your property — it all adds to the value of your rental, impacts your online listing and can change the coverage you will need.

When to Review Your Vacation Rental Insurance

During the off-season, you may decide to make a few exciting changes to your rental property — this is a good time to review your vacation rental insurance. Before renewing, our advice is to thoroughly make sure that all information is accurate and reflects any major changes you made at your property. It’s wise to look back on the previous busy season and determine if you need to purchase additional specialty insurance.

Even if major changes weren’t made at your property such as a beautiful in-ground swimming pool, schedule a time to talk with your agent for an insurance review. You may find a new coverage offering that would work for your business better.

Receive 5 Star Coverage with CBIZ Vacation Rental Insurance

Don’t leave anything to chance by going without coverage for an off-season. Whether you are looking for short-term rental insurance, long-term rental insurance, dwelling, or second home, we are here to help. Connect with a team member today at CBIZ Vacation Rental Insurance and request a free quote today!


This blog may contain scenarios that are provided as examples only. Coverage is subject to the terms, conditions and exclusions of the policy issued. The information provided is general in nature and may be affected by changes in law or the interpretation of such laws. The reader is advised to contact a professional prior to taking any action based upon this information.

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About Us

CBIZ Vacation Rental Insurance, a division of CBIZ Insurance Services,Inc., is the largest insurer of short-term vacation rental properties in the United States. As part of an $850 million New York Stock Exchange traded company (CBZ), we are the first broker to develop specific policy coverage to meet the needs for vacation rental properties and the amenities offered by these businesses. We have insured vacation rental properties since 2002.

The CBIZ Vacation Rental Insurance team knows insurance, specifically the risks and exposures related to short-term vacation rentals.We won't confuse you with technical "insurance speak" ~ our representatives are well versed in explaining your coverage in plain English. With hands-on, personal customer service, we guarantee swift communication and a 24/7 claims team that is ready to respond to your call any time of the day. As specialist in the industry, we leverage our knowledge and passion to ensure you and your business are adequately protected.