Vrbo Insurance Explained: Coverage Options for Hosts

Imagine opening the doors of your prized vacation home and being greeted by a scene of unexpected chaos:

Your chic sectional sofa now sports unsightly rips, the walls are defaced with erratic scribbles, and your grandmother’s antique lamp lies in fragments.

While these instances are rare, they are not beyond the reach of short-term rental hosts. Given the popularity of vacation rentals, it is important for hosts to recognize the potential for mishaps to occur and understand how to protect their hard-earned investments.

This is where Vrbo insurance solutions come into play. In this guide, we will explore the insurance options available through Vrbo how they work and the need to have these protections in place. We will also offer advice on alternative supplemental insurance options and best practices to avoid these incidents in the first place.

What is Vacation Rental Insurance?

Vrbo understands the importance of protection for both hosts and guests, which is why it offers a couple of key insurance options to ensure peace of mind for everyone involved.

$1 million liability insurance

Vrbo offers $1 million in liability coverage to hosts per property per year. This insurance is intended to protect hosts in the event that a guest is injured on the property or if there is property damage that results in a lawsuit.

However, it is important to note that this coverage has its limitations and exceptions. It may not cover certain types of accidents or damages, and there may be limits on the amount paid for specific claims.

What does Vrbo’s liability policy cover?

Vrbo may provide liability protection covering a variety of incidents, including but not limited to:

• A guest who is injured on your property (falling down the stairs, hitting his or her head, etc.)
• Property damage caused by guests (A guest overflows the bathtub and causes water damage to their neighbor’s unit)

What types of incidents are not covered by Vrbo liability insurance?

There are some things that Vrbo’s liability insurance does not cover, such as:

• Intentional damage caused by the rental guest (vandalism, theft)
• Damage to your own property or belongings (if a guest accidentally breaks your TV)
• Accidents or injuries that occur off the property (if parties are injured while exploring the city)

How do I file a property damage claim with Vrbo?

All hosts are automatically enrolled in the program. However, this applies when booking through Vrbo.

This means that if you accept a direct booking instead of through Vrbo, your home will not be covered. That’s why it’s important to invest in supplemental short-term rental insurance when you sign up for insurance. Of course, other sites, like Airbnb, offer their own protections, such as Air cover.

To file a claim with Vrbo’s liability insurance, please follow these steps:

1. Report the incident immediately: As soon as you become aware of an incident that may give rise to a claim, please report it to Vrbo. You can email their team 24 hours a day, 7 days a week.
2. Document the damage or injury: Take detailed photos or videos of the damage or injury. Gather witness statements, repair estimates, or medical reports, as these will be essential to your claim.
3. Wait for evaluation: The insurance company may send an expert to assess the damage or request additional information. It is important to fully cooperate and provide all requested documentation.
4. Follow up: Eligible claims may take some time to process. Please be sure to follow up periodically to check the status of your claim and respond promptly to any requests for additional information from Vrbo or the insurance provider.

Please remember that the success of your claim depends on timely reporting, thorough documentation, and compliance with Vrbo’s insurance policy guidelines.

Adequate insurance

Vrbo has partnered with Proper Insurance to provide hosts with an extra layer of protection. This vacation rental insurance policy is designed to complement Vrbo’s $1 million liability coverage and provide more comprehensive coverage for specific incidents.

What does Proper Insurance cover?

An adequate insurance policy covers a wide variety of incidents, including those not covered by Vrbo’s liability insurance. These include:

• Damage caused by pets (If a guest brings their pet and it causes damage to the vacation rental property)
• Bedbugs or other infestations caused by hosts
• Protection against loss of income

An insurance policy for homeowners: Mashvisor’s partnership with Steadily

Mashvisor is pleased to partner with Continually To better provide insurance coverage Options for short-term rental owners and hosts. While Vrbo’s liability insurance is good, there are significant gaps in coverage that Steadily fills.

The innovative collaboration between Mashvisor and Steadily offers comprehensive coverage. Steadily not only protects the physical property, but also extends to any furnishings on the property provided by the owner or host.

Why choose Steadily?

• Liability Protection: Consistently excels at protecting property owners from liability claims.
• Full coverage: Steadily’s policies are robust and cover a wide range of incidents such as:
  • Fire
  • Water damage
  • Heist
  • Guest medical care expenses
  • Legal fees in the event that a guest is injured on-site and files a lawsuit.

Steadily’s Homeowners Policy is an attractive option for homeowners and hosts looking for more than basic insurance offerings, especially with an eye toward increased liability protection.

Best practices for hosts

In the end, no one likes having to deal with insurance issues. It’s always best to be prepared and take the necessary precautions to minimize potential risks. Here are some practices hosts can follow:

• Screen guests: Make sure you screen your guests and thoroughly review their profiles and reviews before accepting a reservation.
• Create a security checklist: To ensure the property is safe for guests, create a checklist of safety measures such as smoke detectors, fire extinguishers, and carbon monoxide detectors.
• Record keeping: Record all guest reservations and any incidents that may occur during their stay.
• Communicate clearly: Before guests arrive, set clear expectations and rules, such as: Providing House rules, emergency procedures and what to do in the event of an incident.
• Regular maintenance: Stay on top of regular property maintenance to minimize potential risks.
• Consider additional insurance: For added protection and peace of mind, consider purchasing additional coverage from a trusted insurance provider, such as Steadily.

Final Thoughts

In the competitive vacation rental industry, having the right insurance can mean the difference between a minor inconvenience and a catastrophic financial setback. Steadily’s homeowners’ insurance policies offer comprehensive coverage tailored to the unique needs of short-term rental owners and hosts. By taking proactive steps to protect your property with preventative measures and the right insurance, you can rest easy knowing your short-term rental business is well protected.