Tuesday, March 26, 2019

Jump into the Short-Term Vacation Rental Business Completely Protected


Renting Your Home Requires the Right Coverage

By: Edward L. Blais, JD, CIC
President, Blais Insurance

The short-term rental economy has gained significant momentum over the last 10 years with the rise of companies such as Airbnb, VRBO and Booking.com. However, it has also been a rude awakening for many unsuspecting participants. If you or someone you know is planning to jump into this side hustle, Blais Insurance urges homeowners to make sure they have the proper coverage to do so.

Many homeowners may not realize that their homeowners insurance policy does not cover the renting out of their home. Under the business pursuits exclusion — a clause in every homeowners insurance policy — homeowners are responsible for any property or liability claims that might happen while they are renting out their home.

If you are using one of these short-term rental platforms, Blais Insurance encourages policyholders not to forget about getting the right coverage. While the right coverage will cost more than a homeowner’s policy, it will still cost far less than uncovered losses.

With a commitment to protect your financial interests, Blais Insurance has been protecting families from unexpected losses for more than 100 years. Call 401-725- 0070 to speak with one of our insurance agents today, and to have the peace of mind you deserve.

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