Insights and tips on how to protect your property, giving you and your guests peace of mind.
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.
Owning a vacant home can pose serious liabilities due to it being more susceptible to vandalism, undetected repairs, fire and other losses. The insurance risks associated with owning vacant property can be extensive, and to ensure you are adequately protected, it's important to know the risks.
There’s a lot to be said about purchasing a second home, often known as a vacation home, at your dream destination. It offers a chance to escape the everyday life and to enjoy a different scenery. However, owning a vacation home requires a different type of home insurance.
No matter what safety precautions you have in place or how well you maintain your short-term rental property, a vacationer could become injured or claim that your negligence caused damage to their property at any time. If you are named as the responsible party in such a suit, you need to defend yourself against the charges – even if you believe that your actions (or inactions) did not contribute to the renter’s injuries.
Finding the correct insurance to cover your business and properties, is challenging enough. Not all policies are created equal and there are an overwhelming amount of options. On behalf of the CBIZ Property Insurance team, we are excited to share that we have expanded our insurance solutions to include more than just short-term rental properties.
As a vacation rental homeowner or property manager, the last thing you want to hear is a guest was injured at your property. Unfortunately, injuries can and do happen. Depending on the circumstances, your guest may believe you bear some responsibility for his or her injuries. Of course, being accused of negligent or intentional acts that led to a guest’s injuries does not necessarily mean you are responsible.
Becoming a short-term rental owner can be a great way to earn extra money. However, property owners sometimes do not consider the potential risks that can come with owning a vacation rental business.
When starting a vacation rental business, there are many things you have to consider. Though it’s an exciting and profitable business, it constantly needs care and must operate like a traditional business. To help reduce the chance of headaches you may have when starting out, we’ve compiled our best tips for getting started on the right foot.
Just like judging a book by its cover, a guest formulates an opinion of your vacation rental property the moment they set eyes upon it. That’s why curb appeal needs to be a top priority, making the most positive impact on a potential guest and increasing your home's value. Since its National Curb Appeal month, there is no better time to take a look around your vacation rental property and see how best to beautify and protect your property from hazards.
As a small business, you may be trying to determine the right business framework for you — likely either a sole proprietorship or limited liability company (LLC). For many owners, minimizing risk is top of mind, and an LLC is a way to gain added protection in addition to vacation rental insurance.