My STR was cancelled and I cannot seem to get coverage except for Proper which is super expensive. Does anyone have a Florida Insurer for STR’s that is more reasonable than Proper?
Same in Massachusetts. Not because anybody wrote it into the rule but none of the insurance companies are willing to let you do a rider so you have to get a commercial property. My homeowners insurance is around 1200 bucks because I have to use proper it’s 3000.
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I’m in the same MA boat and due to renew in July. My insurance agent told me that she got the new quote and it has increased tremendously. It was already ridiculous. She said that she found a residential underwriter that might do a rider so maybe the insurance companies are getting the message. Mine is a little extra complicated because I also have 2 LTRs on the property. TIme to downsize!
Hi Kristine I know you’re in western mass so if you do find the insurance company that’s gonna do an underwriting let me know please. My Insurance renews in September and at that time last year it went up quite a bit so I’m hoping that it’s not gonna go up as much this time.
It may get to a point where it just may not be worth doing it anymore but for now since it’s the second floor of my house and I get to write off 50% of my utilities and a lot of expenses it is worth it. I
know you seem to be busier than me but I kinda like this place better than before the pandemic
Before COVID I had three rooms going and since reopening only one. So that room is pretty booked but it doesn’t feel anything like it did before. It also makes it harder to justify the added cost. We are considering going LTR or downsizing.
My Mass. STR is attached to my home (basement apartment). I had excellent luck with Allstate and my overall premium went DOWN after switching to them and adding the STR coverage.
Great to know, thanks
I was told that no insurance COMPANY IN MA will do this. My STR is ATTACHED ON MY Second floor. Can you tell me where in MA you are located and your insurance agent? Please
I’m in Newton.
Robert Slocum
(781) 205-4374
rslocum1@allstate.com
Here’s a link to a comparison of Proper vs Allstate, dated 8/21: Proper vs Allstate HostAdvantage® Home-Sharing Insurance: A short-term rental insurance comparison | Host Tools
Note that they list the six states that Allstate’s ‘HostAdvantage’ insurance is provided. MA is not one of those states.
I filled out the form on the Allstate site. HostAdvantage insurance was not offered as an option.
I called Allstate at 800-667-4669 and was told that HostAdvantage was not offered in MA.
Many insurers offer some kind of short-term rental rider. It usually provides very limited coverage, usually not including liability.
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Is this your Allstate agents name or yours?
That’s the agent’s name and contact info.
I did not buy “STR” or “HostAdvantage” insurance, I just needed homeowners insurance that was OK with the STR as part of the overall policy for the house (which my then-current MetLife policy was not, but Allstate was). I don’t want anything special to insure the unit as anything other than as an extension of the overall property and didn’t want to be in violation of the policy for the whole house if something happens in my part or in the unit. We live upstairs and both work from home, so we’re not worried about parties, etc.
But under your policy, if a guest trips and falls how much is your liability coverage, if anything?
Seems to me like inconsistent statements.
What am I missing?
P.S. I haven’t seen government agency in MA checking on insurance levels. They seem to care more about the property tax
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Thank you. I’m in Melrose. I give him a call. If this pans out, I like to treat you to A meal.
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