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You own a beach house in Cancun that you’re all set to rent out. It’s always been well cared for and the only users have been family members. But now you’re thinking about opening it up to renters. It makes sense financially and renting it out won’t go wrong, right? Everyone does it. However, this group of twenty-something looking to rent it for a week in April has you on edge. Mixed drink stains and missing chairs isn’t exactly what you signed up. You have insurance, but you’re not sure if it will protect you against damage from the drunken hurricane that’s fast approaching. So what does rental insurance cover?

It depends on the insurance you have or the service through which you rent your property.

Airbnb is the most widely used rental service and offers a robust insurance plan to help hosts sleep a little better. Their host protection plan covers up to $1 million in property damage or bodily damage if there is any physical accident or incident.

what does vacation rental insurance cover
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Independent vacation insurance companies offer their own rental packages. For example, Safelystay offers up to $1 million in liability and property damage while also providing background checks on guests.

Rental Guardian is another company that offers solid rental insurance plans. The plans are scaled to your budget and the rental fee, so you can expect a little more flexibility depending on whether you’re renting a small beach house or a large ranch. They also offer overseas coverage.

Along with specialized vacation insurance companies, be sure to check out your regular insurance provider. Allstate and State Farm both offer vacation rental plans that might be more convenient for homeowners who don’t want to deal with an unfamiliar insurance company.

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