Insights and tips on how to protect your Vacation Rental Property, giving you and your guests peace of mind.
The reality of renting out your home to guests is that vacation renters can, and often do, sue property owners and managers. When guests feel they’ve been harmed by the property owner’s or manager’s actions or negligence, they might find that their only recourse is to take a property owner to court. Those expenses can add up quickly. In addition, there’s the stress of wondering how you will pay a judgment if one is ordered. Without adequate coverage, your business and your personal assets could be at risk.
While your vacation rental property may not be your only source of income, it is a business venture. You need the correct type and the right amount of commercial vacation rental property insurance to protect your investment and mitigate your legal liability risk.
With a little planning and holiday magic, you can maximize your vacation bookings and entice holiday travelers to return year after year. Here are four tips to make your vacation rental stand out and worthy of five-star reviews.
’Tis the season to be on the lookout for common holiday hazards at your vacation rental. No one wants to be on Santa’s naughty list when you can easily avoid these potential problems. The holidays can be overwhelming with so much to do and so little time, and it’s easy to overlook basic rental risks. Set aside a few minutes away from the hustle and bustle to prepare your property for hazards and remind your guests to take safety precautions seriously.
Owning a vacation rental property can be a rewarding source of extra revenue for you. However, if the property you rent out is geographically distant from your home, it can be almost impossible to ensure it is maintained to your standards or to handle emergency situations on the premises without a local property manager there to provide hands-on support.
Fall not only offers some of the best outdoor weather, but it can also call for extreme weather concoctions - hurricane season colliding with wildfire threats. This lethal mixture makes it very difficult to plan when the next natural disaster may strike. It’s important to know if your property is located in the states with the highest risk and determine the best coverage to meet the needs of an unforeseen natural disaster.
Technology unlocks more than your vacation rental’s front door; it gives you peace of mind, knowing your property is safe while reducing risks. We put together a list of some popular, smart tech products for your property. Consider installing some of these smart technology devices to run your business more efficiently, eliminate potential risks to your short-term rental and increase your property’s appeal to guests.
Although you may not be able to reduce the risk of wildfires occurring in your area, there are measures you can take to reduce the risk of your vacation rental property being lost to a wildfire. While no property is fireproof, the goal is not to allow your home to be a fuel source for spreading the fire. Here are some things to consider as you scan your property for potential fire risks.
Summertime is synonymous with enjoying the great outdoors, and a time when short-term property owners open their homes as the ultimate retreat for guests. Whether your property has a fire pit, grill, or pool, summer fun requires remembering that safety comes first. Allow your guests to grill and chill with ease all while protecting your property with these summer safety tips:
Summer is in full swing, making it the perfect time to take advantage of the extra hours of daylight. Consider “enrolling” in short-term rental summer school and learning all you can to increase bookings, marketing your vacation rental, and managing your business in the most efficient way. To help navigate which online courses, websites, and podcasts are most beneficial to your business’ particular needs, we compiled a list of 12 resources you can explore to expand your knowledge.
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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.
WHAT IS VACATION RENTAL INSURANCE? WHY DO I NEED VACATION RENTAL INSURANCE?WHY WORK WITH CBIZ?I'M AN AGENT OR PROPERTY MANAGER WANT A FREE COVERAGE COMPARISON?CONTACT US