11 Replies Latest reply: May 13, 2019 11:00 AM by green_mango RSS

    Where can we send suggestions to VRBO, Insurance options need attention in VRBO.

    jenniferhwalton New Member

      Where can I submit this recommendation to VRBO, or is this sufficient to raise awareness to VRBO. More attention is definitely needed to insure home owners can access decent short term rental insurance.

       

      One great product is Slice On Demand Insurance.  I would like to see On-demand insurance integrated into the VRBO user interface as an option for owners to mandate guests to add as a daily fee to get renter insurance for the owner.  This particular insurance product (Slice) offers full rental commercial insurance coverage (plus liability) for the days the guest is in the house. You select the specific days you need coverage for. It would be great to be able to add this daily fee to the daily rate as an optional extra within the VRBO interface.

       

      Insurance options for short term rentals is limited and getting worse. Half of the home owners don't even realize they are not covered for short term rentals through VRBO under their regular home insurance policies.  Slice On-demand insurance is great as an application for short term rentals and I hope it gets a lot of support, since it is the first affordable option.  It, or a similar on demand insurance product, should be encouraged by VRBO as it protects home owners.

       

      Any views on this product would be great. I have not actually used the product, but found it today after spending hours searching.

        • Re: Where can we send suggestions to VRBO, Insurance options need attention in VRBO.
          feibus Senior Contributor

          Insurance is a location-by-location thing... some locations have great choices, others do not if the market isn't big enough to adequately spread the risk costs.  Slice is an option for owners who rarely rent, but an expensive one if you rent for a significant portion of the year.  ABB will probably be a first-mover on integrating something like Slice, since that's more their market (infrequent renters).

           

          The feedback widget (accessible in the top-corner button of your dashboard) is another place to post feedback that goes directly into their system.

          • Re: Where can we send suggestions to VRBO, Insurance options need attention in VRBO.
            u0999 Premier Contributor

            I think if one is renting on a full time basis (not occasionally) they need a full blown short term insurance like ones offered by Lloyds,  BHHC, Foremost, CBIZ etc (location and property type dependent). I think Slice is more suitable for occasional/ part time rentals. and it is not a listing site's job to provide insurance.

            • Re: Where can we send suggestions to VRBO, Insurance options need attention in VRBO.
              wildiris Active Contributor

              I don't use Slice Homeshare insurance so I can't speak about its customer service or claims handling.  Slice is designed for homeowners as the insured/client to purchase the policy, not for guests to purchase it.  If owners want to use Slice insurance they should just build the premium cost into their daily rate. 

              • Re: Where can we send suggestions to VRBO, Insurance options need attention in VRBO.
                twobitrentals CommunityAmbassador

                Vrbo just partnered with proper insurance. It was in an e-mail that I received. You may want to try there.

                • Re: Where can we send suggestions to VRBO, Insurance options need attention in VRBO.
                  hill5185 CommunityAmbassador

                  Hello,

                   

                  VRBO does make an attempt to educate and encourage owners to pursue appropriate homeowners insurance. As feibus noted insurance varies widely location to location and the requirements mandated by governing authorities, mortgage entities and the like would make a standardized (one size fits all) virtually impossible. Other details on property use and licensing change the perspective as well.

                   

                  Education is the key here. Owners should deep dive and educate themselves on requirements and proceed accordingly. Furthermore, VRBO should support the education of owners and allow appropriate vendors access to owners during summits and meetups.

                   

                  You mention Slice and adding the fess as an add on during the checkout process on the VRBO platform. Appropriate insurance is part of our "cost of doing business" formula. These expenses are factored into our rate structure to eliminate nickel and diming guests. Personally, I don't want VRBO to have any part of my day to day business.

                   

                  Send your thoughts via the feedback widget - the VRBO team does receive and read Having recently assisted one of our children to establish a new Air BnB in Philadelphia some of the on-demand coverage is not appropriate for "shared" space. Basically, if the owner is onsight/ or offsite changed the ability for coverage. Emphasizing how complex finding and applying appropriate coverage is.

                   

                  Julia

                   

                  edited: if you search the community you find great content on Home Insurance -

                  • Re: Where can we send suggestions to VRBO, Insurance options need attention in VRBO.
                    green_mango Active Contributor

                    Since Slice is a nightly cost you can easily build it into your rental rate.  I've used Slice here and there for a home we don't rent often and it required some tweaking of the coverage (I was woefully underinsured with their coverage they automatically assigned my home).  Personally, there are enough glitches on VRBO that I'd prefer for VRBO not to get involved with insurance coverage in any way, shape or form.  Look no further than CSA (property protection) - they don't have a great reputation for covering claims by owners. 

                     

                    I totally agree that owners need more education about making sure they have an insurance policy that covers short term rentals - way too many owners think their homeowners covers them or that VRBO includes some type of coverage (their 'free' coverage is liability only).

                      • Re: Where can we send suggestions to VRBO, Insurance options need attention in VRBO.
                        ddpllc New Member

                        I have been speaking with Proper Insurance, and my agent to see if I am appropriately covered.  They disagree as to yes or no (not surprised!).  I mentioned the VRBO liability coverage and Proper says:

                        "VRBOs free liability coverage is absolutely not to be relied upon, which is why they exclusively endorse my company for people that actually care about a claim being covered.  We cover more than anybody else on the market and the VRBO coverage is nothing more than a marketing tool to compete with Airbnb.  You get nothing with your name on it, your address on it, and you have zero policy rights when there is a claim.  It is just a blanket policy that every VRBO user shares in."

                         

                        That seems like false advertising if true!

                          • Re: Where can we send suggestions to VRBO, Insurance options need attention in VRBO.
                            green_mango Active Contributor

                            Yes, ddpllc that is accurate - in a nutshell, you get what you pay for.  The only thing I don't think is accurate is the claim that VRBO exclusively endorses Proper - I actually thought VRBO was more closely affiliated with CBIZ.  But the info about the VRBO coverage being a blanket policy is accurate.  Here is VRBO's link:

                            https://www.vrbo.com/l/liability-insurance/

                             

                            I think it's important to note that while the Airbnb coverage includes damage (Host Guarantee), the VRBO policy is liability only - injury to guest, or damage to a neighbor's property - damage to your own home is not included.  Similarly, I don't rely on Airbnb's host guarantee as there are plenty of stories of damages not covered - so I just make sure our homeowner's insurance covers short term rentals and includes loss of income.

                        • Re: Where can we send suggestions to VRBO, Insurance options need attention in VRBO.
                          ohst8er Premier Contributor

                          Insurance is one of those hasta haves.  Whatever your cost for insurance should be baked into your rate, same as utilities, mortgage, water, etc. 

                           

                          As a traveler I would never ever pay an "extra fee" to make sure that my VR is appropriately insured during my stay.  That's your job as an owner, just as it is the hotelier's job, the franchise owner of McDonald's job, etc.  Do I think that a hotelier or a franchise owner just eats those costs?  Of course not.  But I would no more expect to pay a fee to be insured while I ate my Big Mac in the local McD's as I would expect to pay a fee to make sure that the owner of the vacation home I rented from is covered in the event of an electrical fire or a roof leak. 

                          • Re: Where can we send suggestions to VRBO, Insurance options need attention in VRBO.
                            georgygirl1955 Senior Contributor

                            It is not legal to require a purchase of insurance; insurance coverage of any type can only be offered as an option.

                            I can't imagine a guest being willing to spend money on this.