Getting Covered for Damage Caused During the Rental of your Property

The existence of apps like Airbnb has led many people to start renting their homes out on a short-term basis. While this can represent a new income stream for homeowners, it can also lead to insurance complications if you do not have the correct insurance policy on your property. 
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Does homeowners insurance provide coverage if you are renting your home for a short period of time? If not, what are your best options for getting the compensation you need if a guest causes damage to your property? Learn what you need to know from expert Palm Beach County public adjusters. 

What Kinds of Damage Do You Need Coverage For? 
There are two major things you need to be prepared for when renting out your home: 
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• Property Damage – If a renter causes damage to your property, you want to make sure you can pay for the repairs of your damaged property. 
• Liability – If a renter is injured on your property, you want to make sure that you do not have to pay their medical bills. 

Does Your Homeowners Insurance Policy Cover Damage Caused During Short-Term Rentals? 
A standard homeowner insurance policy will not cover damage caused if you are regularly renting your property. For this, you would need a dwelling policy.  
It is important to review your policy, because you may be required to inform the insurance company before renting or even add an endorsement to obtain coverage. 

If you sustain damage to your property and believe your policy covers the damage caused during a rental period, you should consult with a public adjuster. They will have the knowledge and expertise necessary to review your policy and assist you with filing an insurance claim. 

Getting Covered for Damage Caused During a Short-Term Rental
If damage occurs to your property while you are renting it, there are several options available to you. First, you need to determine if the damage is covered by your policy (e.g., a natural disaster, fire damage or water damage that occurs while you were renting your property). 

If your insurance policy does not cover the damage, you might still be able to receive compensation elsewhere. For instance, Airbnb offers host damage protection for up to $1 million. 

It is important to note that AirCover for Hosts will not provide coverage for damage that is covered under a typical homeowners insurance policy like hurricane damage.

In order to receive coverage by Airbnb, you are required to provide evidence of the damage. If you plan on renting your home, it is important to perform an inspection ahead of time.  This way, you will document the condition of your property prior to anyone staying in your home and proof that any damage that occurs happened during the rental. 

Looking for Palm Beach County Public Adjusters
You have come to the right place. At Reliant Insurance Adjusters, we work with residential and commercial property owners to help ensure you receive everything you are entitled to for your insurance claim. We have decades of experience in the insurance industry, and our reputation speaks volumes.

Now, more than ever, insurance policies cover less and less.  We are always happy to help you gain a better understanding of what your policy does and does not cover. Please do not hesitate to contact us or call (561) 288-6434.