July 17, 2014

Insurance For Your Cabin, Beach House, Lake Home & More!

Summer has finally come along, and the number of vacation properties being rented is skyrocketing. These properties are an easy way for travelers to get more bang for their buck. Typically, a rental home will cost you less than a hotel room reservation. Additionally, you have a more private space in which to spend your vacation down time. If you will be a guest in a vacation rental home this summer, here are some tips for making sure you have a problem-free stay on someone else’s property:

  • Purchase personal property coverage or renter’s insurance to make sure your belongings will be insured no matter where you are in the world.
  • Ask to see proof of the property owner’s insurance so that you can be assured you won’t be held liable for an accident occurring on their property.
  • A supplemental health insurance policy can help cover more medical expenses if you are worried about personal injury while on vacation.

For vacation rental homeowners, your risks are a bit different than your guest’s. Keep in mind that a standard homeowners insurance policy will most likely not cover your home or apartment if you choose to regularly rent it out. If you rent out your home more often than every now and then, you should look into buying a landlord property insurance policy. This will insure you against certain unfortunate events that are excluded from your standard homeowners insurance policy. Liability is a big issue for owners acting as landlords. You can be subject to all sorts of lawsuits if you choose not to purchase this form of protection. You may want to look into personal property insurance to cover furniture if your rental is furnished.

If you would like any assistance with insurance for your vacation rental home, please contact Brewer-Lloyd Insurance Group! Our insurance professionals have over 25 years of experience. Brewer-Lloyd Insurance Group will be able to find you a competitive price for the coverage you need, today!