Home » Short Term Rental Insurance in Blairsville, GA

Short Term Rental Insurance in Blairsville, GA

In recent years, it’s become quite common to rent out your home or another residential property you own for abbreviated stays. Rather than signing long-term leases, working with services like Airbnb and Vrbo can provide you with a lucrative income stream without entering into an extended commitment with a tenant. However, while these new opportunities may be enticing, they come with their own unique set of risks. With this in mind, understanding and securing appropriate short-term rental insurance is essential.

What Is Short-term Rental Insurance? wooden house with hammock attached on tree

As its name suggests, short-term rental insurance is a specialized type of coverage that may be available to those renting out their homes for abbreviated periods of time (e.g., less than 30 days at a time). Also known as home-sharing insurance, these policies can provide versatile financial security for property owners, and claims can potentially be filed to mitigate various types of losses.

Short-term rental insurance policies may include the following components:

  • Guest liability coverage can financially protect you if a tenant is injured during their stay or if you are sued due to a renter damaging another party’s property.
  • Property coverage can compensate you for damage sustained by your short-term rental property, including if a guest damages the structure itself or possessions you’ve left in the home.
  • Theft and burglary coverage may provide a payout if a tenant steals something from your home during their stay or if your home is broken into.

In some cases, short-term rental coverage may also be augmented with endorsements or riders to include additional coverage, such as for losses and expenses arising from excess use of utilities, infestations and lost income should a covered incident render your rental property temporarily uninhabitable.

How Much Does Short-term Rental Insurance Cost?

Like many types of insurance, the cost of adequate coverage for your short-term rental property may vary significantly depending on your unique circumstances. Rates for insuring these properties may be higher than they would be if you were purchasing standard homeowner insurance, as short-term rentals are generally considered more likely to experience property damage and accidents.

When determining the cost of a short-term rental insurance policy suitable to your needs, the following criteria may be considered:

  • Location
  • Structural details (e.g., age, condition and building materials used)
  • Type of residence
  • Rental arrangement tendencies (e.g., how often you rent out your home)
  • Property features (e.g., security systems, swimming pools and firepits)
  • Prior claims history
  • Policy details (e.g., deductibles, endorsements and coverage limits)

Learn More

At Esquire Insurance Services of Georgia, we have over 40 years of combined experience serving the Blairsville and Ellijay, GA areas. Our dedicated team will draw on this extensive track record to help you understand your short-term rental insurance options and secure ideal coverage. Contact us today to get started.

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