If you rent your home on a short-term basis — like your home or cabin — you may think you’re covered for damage, theft or liability through your homeowners policy.
But that may not always be true. Your homeowners insurance is meant for owner-occupied properties. These policies may limit coverage when the dwelling is rented on a short-term basis, which means you’ll need temporary home insurance to ensure you don’t face gaps in coverage.
Short-term rental coverage is great for homeowners that want to rent out their home while they’re away. Coverage is limited to 62 days (about 2 months) per calendar year, and it is ideal for snowbirds who want to rent their place when they’re not around during those chilly winter months.
If you’ve got friends, extended family or house sitters scheduled to look after your home while you're away, this temporary and short-term rental coverage can help to better protect your finances. Even if you're not renting out your place, it’s an extra layer of protection that can really make a difference if something unexpected happens.
It’s also great coverage if you’re planning on house swapping with another homeowner across the US, or across the world. Take look at how temporary and short-term rental coverage helps to protect your home — when you rent it out or have a house sitter for limited periods of time during a given calendar year.
Our temporary rental-to-others coverage is protection you can add to your homeowners insurance policy if you lease your home for no more than 62 days a year. It’s designed to protect you against loss from damages — to your building and its contents while it's occupied by someone while you’re away.
Short-term rental insurance for homeowners isn’t for use when you’re renting your house out on a week-to-week long-term basis, but for other brief periods of time. For starters, it’s important to understand that if you rent out your place to a tenant year-round, you’ll need landlord insurance. If you rent out your home for 62 days or less per year, you’ll want short-term home rental insuranceShort-term rental insurance policies for renters often limit the total number of days per policy period that your home can be rented out.