Insights and tips on how to protect your Vacation Rental Property, giving you and your guests peace of mind.
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.
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.
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.
Attracting the best guests for your property requires a proper vetting protocol to ensure guests leave your vacation rental in the best shape possible. While there will always be small hiccups when renting your property, preventing major violations such as criminal activities, scams, underage parties and violations that are susceptible to risks, injuries, and damages will give you the feeling of security as a host.
Some vacation rental listing sites provide host liability coverage for free or at a reduced cost as part of their service offerings for vacation rental property owners. These types of insurance policies are a good start in managing property owners’ risks. However, relying exclusively on host liability policies could leave you, the property owner, without adequate coverage.
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.
As COVID cases begin to rise again, remote work is becoming a new normal for many. For vacation rental property owners, working remotely or in a different state than your property can be a difficult task.To help keep your rental business running smoothly, we compiled a list of seven tips for successful remote management.
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.
The recreational amenities you offer with your vacation rental property can allow you to charge higher rental costs and may help attract more guests. That’s why it’s important to take every precaution to make sure your amenities are as safe as possible to help avoid accident or injury…. and a liability claim. If your vacation rental has recreational amenities, here are some simple steps you can take to not only keep your renters safe during their stays but also reduce your chances of liability.
People get into the vacation rental or home-sharing game not realizing they need more protection than they currently have under a homeowners policy. Here's why homeowners insurance it can't protect your vacation rental home if something goes wrong during a guest's stay.
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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