Lloyd’s Vacation Rental Insurance Program
Insurance custom written for the unique exposure of vacation rental homes, cabins, and condos.
All-inclusive coverage for your building(s), contents, income, and liability.
Insuring vacation rental properties has become a challenge the past few years. Many domestic carriers simply won’t insure them, which leaves owners with a handful of specialty carriers to choose from. These policies often do not meet the needs of vacation rentals and leave big gaps in coverage.
10 Important Questions to Consider:
- Is your home insured to 100% of the replacement cost?
- Would you be forced to accept a reduced settlement in the event of a partial loss?
- Does your policy offer full limits on theft?
- Does your policy have any limitations on damage caused by a renter?
- What is your deductible for water damage and are you covered for freezing pipes and water back-up?
- Is there an “ordinance or law” coverage enhancement added into your policy?
- Does your liability coverage extend off- premise and follow your renters?
- Does your liability extend to hot tubs, swimming pools, dock and small watercraft?
- If your property goes unoccupied for periods of time, do you have full policy coverage?
- Would it be beneficial to work with an insurance agent that has short-term vacation rental insurance experience?
Lloyd’s Program Highlights
Commercial package policy; coverage for building(s), contents, income, and commercial general liability
- – Replacement cost valuation for both building(s) and contents, with special form (all-risk)
- – No limit on damage caused by a renter, and no theft limit
- – Actual loss sustained business income coverage with no time limit
- – $1,000,000/$2,000,000 of commercial general liability coverage, which extends off-premise
- – Liability coverage extended to hot tubs, swimming pools, docks, rec areas, animals/pets, bicycles, small watercraft, fishing, +more
- – Underwritten by Lloyd’s, AM Best’s
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