Severe Risks Could Put Your Business in Peril Without the Right Coverage

Posted by CBIZ Vacation Rental Insurance on Oct 3, 2018 10:50:40 AM

While your vacation rental property is probably not your only source of income, it is a business venture. As such, you need the right type and the right amount of commercial vacation rental property insurance to protect your investment and mitigate your legal liability risk.

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Commercial Vacation Rental Property Insurance Protects Your Investment – And Your Income

Posted by CBIZ Vacation Rental Insurance on Sep 17, 2018 8:00:00 AM

When you decided to rent your vacation property to travelers looking for an alternative to hotel stays, you also made the decision to go into business for yourself. While you may not think of yourself as a business owner, you are. And, as a business owner, it’s important to have sufficient commercial insurance coverage protecting your investment.

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Topics: Vacation Property Owners

Vacation Rental Insurance Basics: Who and How

Posted by CBIZ Vacation Rental Insurance on Sep 10, 2018 2:38:00 PM

If you own vacation property that you rent to guests, you need the right commercial vacation rental coverage to protect your investment. Without adequate coverage, you are at risk of financial loss if the property is damaged, if a guest is injured, or if their property is damaged somehow while staying on the premises. Property owners who are not familiar with this type of insurance often have questions about their eligibility to purchase coverage and about how to go about buying an insurance policy.

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Topics: Vacation Rental Insurance

5 Things You Need to Know Before Purchasing Vacation Rental Property Insurance

Posted by CBIZ Vacation Rental Insurance on Sep 3, 2018 2:41:00 PM

The cost of commercial vacation rental property insurance and liability coverage is usually a consideration when deciding which policy to purchase, but it shouldn’t be the only factor you evaluate. You want a policy that will provide adequate rental property coverage for damages, as well as liability for renters or others injured on the premises. 

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Topics: Vacation Rental Insurance

Property Damage Comes in Many Forms

Posted by CBIZ Vacation Rental Insurance on Aug 27, 2018 2:38:00 PM

No matter how careful you are about maintaining your vacation rental property, circumstances out of your control can lead to property damage. If you don’t have adequate commercial insurance coverage, you could find yourself having to foot the entire repair bill yourself. Fortunately, CBIZ Vacation Rental Insurance is designed to provide replacement cost coverage when things go wrong.

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Topics: Vacation Property Owners

Are Your Personal Assets at Risk?

Posted by CBIZ Vacation Rental Insurance on Aug 20, 2018 2:41:00 PM

The reality is that vacation renters can, and often do, sue property owners and managers for damages when they feel they’ve been harmed by the property owner’s or manager’s actions or negligence. Of course, just being the target of a civil lawsuit doesn’t necessarily mean that the plaintiff will win the lawsuit. But, even if the other party is unsuccessful and the court or jury sides with you, you may be on the hook for paying court fees and the cost of having an attorney represent you.

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Topics: Vacation Rental Insurance

Common-Sense Safety Precautions Can Keep Your Liability Risk in Check

Posted by CBIZ Vacation Rental Insurance on Aug 13, 2018 2:37:00 PM

The cost of commercial vacation rental insurance and liability coverage is usually a consideration when deciding which policy to purchase, but it shouldn’t be the only factor you evaluate. You want a policy that will provide adequate rental property coverage for damages, as well as liability for renters or others injured on the premises. 

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Topics: Vacation Rental Insurance

Why You Can’t Rely on Your Homeowner’s Insurance to Protect Your Vacation Rental Property

Posted by CBIZ Vacation Rental Insurance on Aug 6, 2018 2:33:00 PM

 

Vacation property owners who choose to rent their properties to others can find it’s an easy way to earn extra money. However, property owners sometimes fail to consider the potential risks that can come with such rental arrangements and mistakenly believe their homeowner’s insurance will protect them. The reality is that the moment the property is marketed as a vacation rental home and money exchanges hands, you are engaging in a commercial activity and the stakes go up. Property owners face risks associated with property damage, legal liability, and lost income that homeowner’s policies typically don’t address.

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Topics: Vacation Rental Insurance

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