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The Risks of Renting your Home

When people decide to rent their homes, they usually think of all of the extra income they are going generate and don’t ever think about the risks involved. There are many risks involved in renting your home and that is why it is important that you have the right type of policy on your home.

  • What would happen if a renter or their guest were injured at your home?
  • What would happen if they accidentally started a fire or left the water running and flooded your home?
  • If you couldn’t rent out your home while it was being fixed, would you be able to recover any of your lost rental income?

Most standard homeowners’ policies will not provide any coverage at all for rental exposure. So, if a renter sues you for an injury they sustained while renting your home or if they leave the stove on and it causes a fire, there is a very good chance you will be left paying for the physical damages as well as the legal fees.

Many people mistakenly think they have proper coverage on their home because they have informed their insurance agent or company that they rent their home.

The majority of companies that write coverage for rental homes require the home to be rented on a twelve month lease. If a company allows shorter lease terms, they usually have a maximum number of times a year the home can be rented and almost never accept weekly or nightly rentals. This is why it is so important that your insurance company knows exactly how your home is being rented out.


VRI Agency was formed to do one thing only: to correctly insure vacation homes that are being rented. We partner exclusively with a very small number of companies who are willing to insure this type of rental risk.

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