The company, which boasts an A+ rating from BBB, now offers unique policy coverage for vacation homes, townhouses, condos, duplexes, cabins, cottages, and apartments. Staffed by expert vacation rental underwriters, Proper Insurance can tailor policies specific to clients’ short-term rental properties and cover the gaps inherent to a traditional homeowner’s insurance policy.
More information can be seen at https://www.proper.insure
Proper Insurance policies can be used to replace the property owner’s existing homeowner’s or landlord’s policy. It is created as a business policy, providing comprehensive coverage for the short-term vacation rental owner’s building, contents, commercial business liability, and business income. Personal liability is also covered when a short-term or holiday rental is used as the owner’s home residence.
The US vacation rental market topped $13 billion in 2021 and is now growing annually at approximately 10%, after the drop during the pandemic. Accordingly, vacation rental property ownership is also expanding – and has turned into a booming market through services such as Vrbo, which showed homeowners that their real estate could be monetized by selling rooms to short-term renters. By 2025, almost one in five Americans will have stayed in a short-term vacation rental.
However, when investors and homeowners purchase these properties, appropriate short-term vacation rental insurance for the intended use is often overlooked.
Backed by Lloyds of London, Proper Insurance’s comprehensive policy was specifically designed to cover all the non-traditional concerns of the short-term rental market that property owners must contend with. There are exclusions in typical policies for “business use” and “vacancy,” among other gaps in coverage that mean almost any claim can be denied.
Endorsed by Vrbo, Proper Insurance covers items vacation rental hosts need protection for. These include bed bug protection, loss of income, liquor liability, and liability protection for amenities hosts often include with rentals like bikes, boats, and golf carts. The Proper Insurance policy automatically provides $1,000,000 to $2,000,000 in commercial general liability. When the vacation rental also “doubles” as a primary residence, $1,000,000 in personal liability is included in the policy.
One recent client commented: “Ashley Haley from Proper Insurance is, hands down, the best insurance agent I have ever worked with. She is extremely responsive, reliable, and efficient. As a long-time realtor and an owner of multiple short-term rental properties, I highly recommend Ashley and Proper Insurance for all your rental property needs.”
Interested parties can go to https://www.proper.insure/vrbo-insurance for more information.
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