What follow are 10 questions the owners of short-term rentals should ask their insurance agent or broker in order determine the most appropriate coverage, according to Proper Insurance:

Does my policy cover both personal and short-term rental (STR) use, and does it contain a business activity exclusion? Since STR properties serve as both residences and businesses, a standard homeowner's policy may exclude losses arising from rental activity.
Does my policy cover guest-caused damage, theft and vandalism up to the policy limits? Standard policies may distinguish between a break-in and damage or theft by a paying guest who was intentionally given access to the property.
What type of liability coverage does my policy provide, and does it cover injuries caused by guests as well as injuries to them? Personal, premises and commercial general liability coverage can respond differently when a guest causes or suffers an injury.
If a short-term rental guest assaults someone who then sues me, do I have liability coverage? Assault and battery can be excluded from standard policies even though hosts could face lawsuits stemming from their guests' conduct.
If a covered loss interrupts my short-term rental business, does my policy cover lost business revenue? Traditional loss-of-rents or loss-of-use coverage may not compensate an owner for the property's actual STR earnings.
If a short-term rental guest sues me for invasion of privacy, do I have liability coverage? STR owners face privacy exposures that standard policies may not cover.
What exclusions in my policy could apply specifically to short-term rental activity? Owners should look closely for exclusions involving guest damage, liquor liability, communicable diseases, privacy claims and animals.
Does my policy have a vacancy limitation, and when does it affect coverage?
Extended periods without occupants can trigger policy restrictions that reduce or eliminate coverage for losses such as theft or water damage.
Are amenities and related off-premises activities covered by my liability insurance? Pools, hot tubs, docks, bikes, kayaks, golf carts and other guest amenities can create liability exposures that extend beyond the rental property's boundaries.
Does my policy cover squatters, bed bugs and fleas, including associated legal costs, lost revenue and liability? Guests who refuse to leave or introduce pests can generate eviction expenses, extermination costs, lost bookings and potential liability claims.

(Featured image credit: Small Smiles_dimple via Adobe Stock)

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10 Things short-term rental owners should know about insurance

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