Manchester, CT is home to a unique historic district, beautiful parks, mountains, museums, and great places to eat, drink, and shop. As such, local homeowners may find it profitable to rent out a room, home, or apartment short-term during the busy tourist season. However, it’s important to ensure you have proper insurance coverage for short-term rentals in order to avoid unforeseen bills.
Home Insurance: What Is and Isn’t Covered
Home insurance is designed for owner-occupied homes. It covers your personal belongings, appliances, and the home structure. It includes property damage and liability insurance. It does not cover rental to a third party, as that constitutes commercial activity. If, for instance, someone has an accident on your property while visiting your short-term tenant, your home insurance wouldn’t foot the bill. This same point applies to deliberate or accidental damage to your property while it’s being rented out to a third party.
Home Insurance Coverage for Short-Term Rentals: What Are the Options?
Airbnb offers host liability insurance for short-term rentals. This coverage, along with the platforms’ host damage protection guarantee, should cover the most common problems arising from short-term property rental. However, if you rent your property out on multiple platforms or run a short-term rental operation year-round, you may want to invest in short-term rental insurance from a reputable insurance carrier.
Need Help? Reach out to Brent Young Agency LLC at Your Convenience
At Brent Young Agency LLC, we make it as easy as possible for Manchester, CT homeowners to purchase the insurance policy or policy bundle that best meets their needs and budget. If you want coverage for a short-term rental, get in touch with us, and we’ll help you assess your options and choose the right policy.
