The practice of renting out privately-owned homes to vacationers is becoming more popular in many areas. It’s a chance for homeowners to bring in some added revenue while also keeping their home ‘lived-in’ while they’re away.

Short-term rentals of your vacation home also have some unique insurance needs. Standard home insurance policies cover the structure and family members who reside at your residence. In contrast, rental home insurance covers the structure, contents, and injuries from accidents that occur on the property while housing guests.

Why You need Rental Home Insurance

Insurance designed for rental homes serves two basic purposes: It offers property protection for your home and its contents and bodily injury that might occur to the guests while on your property. The range of coverage options includes coverage for loss of business whenever damage occurs to the property. Your policy can provide you with compensation for lost income while your home is repaired or replaced.

Colorado Prestige Insurance Group helps you get the rental home insurance that is right for your needs. In some cases, the amenities that make your vacation home a desirable rental can also increase your risk of liability. For example, homes with swimming pools put renters at a greater risk of injury or death from drowning than those without them. Water sports equipment and/or access to large bodies of water are some other features that might require extended liability coverage.

Contact us at 303-659-4744 to talk about your needs for rental home insurance. We can help you understand the difference between your Denver rental home and the home you live in year round. When it comes to home insurance, the same coverage that gives you peace of mind by protecting your residential home isn’t adequate for your rental home.

If you treat your rental home as a business, you need to protect it like you would any business of any kind. Although the cost of both types of insurance is often similar, the coverage varies considerably.

We offer coverage from some of the leading insurance companies in the nation. This allows us to give you more options to customize coverage that is just right for you. That way, you get the insurance you need for peace of mind without paying for coverage that you don’t need.

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