Short Term Rentals & Homeowners Insurance
October 26, 2015
With the increasing popularity of sites like AirBnB and VRBO, more and more people are looking to their home to make a little extra cash. Renting out your home for the short term might seem like a quick and easy way to make a little extra money, but be aware that it could end up costing you big time.
When you offer your home as a short-term rental, your Austin, Texas homeowners insurance will likely exclude coverage. Most home insurance policies specifically exclude coverage for business purposes. Since the whole idea is that you’ll be making money off your short-term rental, it technically qualifies as business use. Talk to your agent about what is and is not covered.
Ultimately, insuring your home as a rental property will depend upon your unique situation including the length of time for which you rent your home and how frequently you rent it out. Talk to your agent to make sure you’re properly protected.
Does your insurance agent make getting the coverage you need—even for trickier situations like renting your home for the short term—easy and affordable? For dedicated service and the most competitive pricing, contact Central Insurance Agency. We are here to provide you with the Austin, Texas homeowners insurance and the other policies you need to fully cover your home and your liability.