Liability Insurance for Airbnb or VRBO hosts in Oregon, Idaho, Utah and ArizonaAIRBNB

Thinking of renting your home or room as a vacation rental? Before you do, you’ll want to make sure that you have the proper insurance coverage.  Normally, if a guest was staying in your home for a short period of time, covered losses or liabilities would most likely be covered by your homeowner’s insurance.

In the case of hosting your home or room for money, that would be classified as a landlord-tenant situation, even if that guest is only on your property for a short time, like a weekend.  While sites, like Airbnb, do offer some property protection for hosts against damage by a guest, it does not include liability insurance. A landlord insurance policy from Hokanson insurance may cover losses for injury claims by guests, loss of belongings or damage to your home caused by a tenant.

What does Landlord Protection insurance include?

Landlords just do not own the home or condo being rented, they may own additional items or tools that tenants have access to, and some of these items may be covered by a Landlord Protection insurance policy:

  • Dwelling/rental property
  • Additional buildings on premise such as sheds or garages
  • Equipment like tools, washing machines or other appliances used by tenant

When letting renters into your home whether for short or long periods of time, you should do a proper screening and ensure that the renter has a renter’s insurance policy as some losses may be covered by a guest’s renter’s insurance policy.

Additional Coverage Options

There are additional coverage options that may be added to Landlord Protection insurance policy.

Legal Defense:

Landlords or rental property owners may also face legal ramifications for events that take place on the property they own. Having additional coverage for Legal Defense may help pay for legal fees from lawsuits like:

  • Libel or slander
  • Accidental Damage
  • Wrongful eviction

Fair Rental Value:

If your dwelling is deemed uninhabitable or a total loss, you may not only need repair or rebuild your property, you may lose rental income. Having Fair Rental Value coverage means that you may get reimbursed for your lost income during a covered event.

Extended Dwelling Coverage:

If your rental property or condo is a complete loss, a standard Landlord Protection insurance policy may not cover the entire cost to rebuild or repair the property. Extended Dwelling coverage may pay out an additional 25 to 50 percent of the standard coverage amount, depending on the policy.

Talk to the experts at Hokanson Insurance in Portland, OR today for about Landlord Protection Insurance and a Personal Umbrella policy. Call for a free, no obligation quote today!