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We own a second home in the North Georgia mountains on a river. We are just starting to advertise on VRBO to try and rent out our property and have discovered that our current insurance does not cover short term or vacation rentals. Are there any recommendations of insurnace compannies that write this type of insurance? Is it going to be a lot more expensive than the insurance we have as a "second home"?
American Family is the only one that would even touch it for us. And it is a commercial policy. It's not outrageous in price, but it's definitely more than a residential policy.
I found that no regular homeowners property insurance companies would write a policy on my vacation rental property. Three years ago I found a company called Cascade Insurance, which last year merged with Propel Insurance. They offer a policy through something called the National Vacation Rental Association, which I honestly think is set up primarily to offer this policy. I've found them very good to work with, though I'll confess I wish I could get more certainty about their ability to pay a claim.
My search also turned up this company. . .
James Wolf Insurance
You might check with the company that insures your primary residence. In our case, Allstate insures our primary residence and has an office in AZ that insures our Vacation Rental for a very reasonable price.