Why CBIZ?

CBIZ knows insurance. We also happen to be the first broker in the U.S. to develop a policy that is specially designed for vacation rental properties. We know this industry, and we are uniquely positioned to support and protect your business as the vacation rental market continues to grow and change.


 

First of Its Kind Vacation Rental Insurance Policy

 

After seeing a need for comprehensive commercial coverage in the emerging short-term vacation rental industry, CBIZ developed an innovative policy that addresses the coverage needs and unique risks of vacation rentals. As the industry continues to evolve, our coverage options continue to grow as well. Learn more about our policy below.

 

CBIZ Vacation Rental Insurance FAQs

 

What type of policy is needed for short-term vacation rentals?

If you rent your home to the others, you run a business and therefore need commercial insurance. In most cases, Homeowners and landlord policies specifically exclude business activities.

The CBIZ Vacation Rental Insurance Policy, developed exclusively for short-term vacation rentals, provides property (building and contents), commercial liability and loss of income coverage. In the event of a covered loss, the policy will pay the loss of rental income for as long as you are out of the business, up to the limit you select on the policy.

What types of properties does it cover?

Single family homes, town homes, condos, duplexes, cabins and more!

What coverage is included?

Property:

  • Replacement cost coverage for your building and contents
  • Includes damage caused by a guest
  • $25,000 backup of sewer and drains
  • $10,000 unscheduled structures
  • $50,000 additional living expenses (when the rental home is your primary residence)

Commercial Liability:

  • $2,000,000 general aggregate
  • $1,000,000 each occurrence
  • $1,000,000 personal and advertising injury
  • $1,000,000/$2,000,000 personal liability (when the rental home is your primary residence)
  • $5,000 medical payments, any one person
  • Product liability included
  • Claim defense expenses are paid in addition to the occurrence limit
  • Liability coverage extends to amenities such as pools, docks, lakes, hot tubs, bicycles, exercise equipment, small watercraft and pets
  • Property managers can be included as additional insureds at no extra cost

Business Income & Extra Expense:

  • Loss of rental income following an insured property loss
  • Actual loss sustained with no time limit
  • Extended business income for an additional 180 days after the property is repaired

Are the amenities at my property covered?

Yes. The policy includes commercial liability coverage for amenities such as:

  • Swimming pools and hot tubs
  • Docks and piers
  • Watercraft (up to 10 HP)
  • Canoes, paddleboards, kayaks
  • Exercise equipment, bicycles and more

Am I covered if I have a landlord policy?

Not necessarily. Similar to a homeowners policy, a landlord policy can exclude business activities.

Is this supplemental coverage?

No. The CBIZ Vacation Rental Insurance policy is comprehensive coverage specifically designed for short-term vacation rentals. It includes coverage for owners who reside at the property.

If I reside at my vacation rental home, does the CBIZ Vacation Rental Insurance policy cover me?

Yes

How do I determine the amount I need for building coverage?

The building limit should be the cost to rebuild the building, not the market value of the property.

How much time does it take to put coverage in place?

On average, our vacation renter owner policies start within 1-2 business days of their completed application.

What insurer do you work with?

CBIZ has developed specific policy coverage for vacation rentals with Western World, an A.M. Best’s Rated A XV carrier. This policy is only available through CBIZ Vacation Rental Insurance. The A.M. Best rating signifies that Western World has an excellent ability to meet its ongoing insurance obligations, such as paying claims. Best's ratings are recognized worldwide as the benchmark for assessing insurers’ financial strength.


What People Are Saying about CBIZ Vacation Rental Insurance

“CBIZ is the only company I found which can provide a policy with the coverage we need, at a reasonable price. They are easy to work with, and I would recommend them to all vacation rental owners.” –Ron G.

READ MORE

More Than Your Insurance Provider

We’re here to help you achieve success with your vacation rental business. From offering industry-leading advice on mitigating risk to giving you the knowledge you need to maximize the success of your business, CBIZ is here to help.


We’re Your Risk Management Professionals


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 and installing a security system to deter thieves and vandals while the property sits empty are all risk management precautions that will have your property in tip-top shape once peak season fires up again.

Similarly, keeping up-to-date photos and descriptions of your property and its amenities on your online listings is a full-disclosure marketing tactic that can help keep liability claims at bay. No guest wants to be misled by a listing, and no property owner wants to be accused of having misled someone. By being transparent in how you present your property, you’ll successfully curtail your liability.

Any number of things can go wrong when you have strangers staying on your property. Enhance the experience of your guests and reduce the risk of loss and damage to your property by providing step-by-step instructions for them during their stay. Laying out clear rules and setting expectations from the get-go can stave off property damage and prevent losses.

All of these precautions not only reduce your risks of loss and damage, but they also allow visitors to feel safe in your rental property . And that is the ultimate awesome host move.

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We’re Your Business Partner


We want you to make the most out of your vacation rental adventure. You’ve got a lot on your plate, which is why we’re here to give you the tools you need to succeed.

As you prepare your rental for peak season, take the time to create a true experience for your guests. Always be thinking, how can I make my rental an experience to remember? Small touches like a vase of fresh flowers and a personalized welcome note or a comfy hammock on the porch can help your rental stand out.

Get your property in front of a larger audience and attract more visitors by developing a presence on social media . Setting up a Facebook or Instagram page specifically for your property, asking for guest reviews and being responsive on your social media channels are all ways you can gain a foothold on your competition and book more guests on a regular basis.





SALES:
888.883.5696 | VACATIONRENTALSALES@CBIZ.COM
865 TECHNOLOGY BLVD, #A | BOZEMAN, MT 59715

SERVICE:
855.945.5221|VACATIONRENTALPROGRAM@CBIZ.COM
700 W. 47TH ST, STE 1100 | KANSAS CITY, MO 64112

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.