Vacation Rental Travelers Vacation Rental Owners Vacation Rental Managers List your vacation rental home or business Owner/Manager Login Vacation Rentals FAQs
   Find a Vacation Rental   vacation rentals   Find a Property Manager   vacation rental managers   Add a Vacation Rental    Add a vacation rental   Add a Property Manager    List a property management firm   Owner/Manager Login    Owner and Manager login   Help     

Insure Your Vacation Rental Property

Your vacation rental property is an investment, and thus it is important to protect it.  One of the best ways to protect it is with insurance.  There are many different types of insurance for vacation rental owners to consider before advertising their property to renters.

Getting Started with Insurance

In many cases, associations give owners a blanket or master policy that covers the common grounds and exterior walls of the property.  This policy is very helpful to vacation rental owners.  It is important to check to see if you have such a policy in place.

Even if a master policy is provided, you need to purchase additional insurance policies. First, you need to get a basic property insurance policy.  This will protect you from fire, theft and other property risks.  Most standard issues are protected with basic property insurance.

Hurricane and Flood Insurance

Property insurance only covers some weather damage, so you may need hurricane and flood insurance as well.  If your home is located in an area that is prone to hurricanes and flooding, this insurance will provide you with valuable protection. 

You can look at hurricane and flood insurance rates prior to purchasing a rental property.  If you investigate before you buy a property, you can save yourself from paying high rates.  If, for example, you have a Destin, Florida vacation rental that is located right on the beach, you will likely have to pay high rates.  However, if you have a Destin rental that is located a block from the beach your rates will likely be much lower.  That is because the beach area is at a higher risk for hurricane damage.

Remember, though, that insurance rates are not the only thing to consider when looking at a property’s location.  Consider the appeal of the property, along with the rates, when deciding on a location.  

Personal Liability

Personal liability insurance is also very important. This type of insurance protects homeowners if a renter suffers an injury inside the home.  If someone falls, breaks a bone or has any other type of injury, you will be protected as long as you have personal liability insurance.  Do not rent your home out unless you have this type of insurance.  

Protect your home by purchasing the proper insurance policies. Your rental property can be a lucrative investment, and thus you need to insure it.  With the right insurance, you and your investment will be protected.

Comments (1)

Vacation Rentals Ogunquit
Said this on 3/12/2010 At 04:19 pm

I recently purchased my first vacation rental property in a hurricane prone area.  Thanks for the great advise. 

Post a Comment
* Your Name:
* Your Email:
(not publicly displayed)
Reply Notification:
Approval Notification:
* Security Image:
Security Image Generate new
Copy the numbers and letters from the security image:
* Message: is certified and recommended by many businesses and publishers.