I have a guest wanting to keep an open trailer with expensive 4 wheeler in the open on my lot. I have no problem with that but would it be a good idea to have them sign a waiver exempting us from liability in the event of theft or damage? One of our neighbors had a whole jacuzzi stolen and there have been several instances of petty thefts.
I found this answer on Allstate’s site:
Q: ARE A PAYING GUEST’S BELONGINGS COVERED BY MY HOMEOWNERS INSURANCE POLICY?
A: Likely not. The personal property of a paying guest would not be covered by a typical homeowners policy. So, if a fire occurs while a paying guest is staying at your home, the paying guest would need to look to their own renters or homeowners policy to cover the loss of their own property.
Store for how long? And where are the lines drawn? Every time a guest parks in my driveway overnight I don’t worry about liability. But maybe I should.
What does your insurance company recommend? Ours wouldn’t cover the vehicle. We often get guests who want to bring boats but we have to decline them because they wouldn’t be covered.
I am not so much concerned about cars and trucks as they should be covered by guests comprehensive insurance anyway, as I would be concerned about “toys” left in the open.
How is it different to them parking their no doubt much more expensive car?
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Probably easier to steal an ATV than an expensive car - expensive cars usually have pretty high-tech security systems.
I think it would that the trailer is a bigger target than the car and are easier to steal.
Trailers are frequently stolen from hotels parking lots because people know there are good things inside either because people are moving (and they are full of household goods) or because they are on vacation (and they are full of recreation toys).
Considering the consequences should it be stolen just makes sense IMO.
So Hotels have issues with people parking their ATV’s on a trailer in their Car Park?
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Why so snarky? When I worked at Westin hotels I can tell you we did not have issues with trailers but we also had insurance to cover stolen guest items most homeowner insurance isn’t going to cover that.
OP asked about letting someone park a trailer full of expensive recreational equipment on her property and if she should get a waiver so we are exploring the “what ifs” and worst case scenarios to help her decide. In the hotel industry we called it “risk management”.
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Hotels do not have Insurance to cover stolen Guest items, well except in the most unusual and unlikely circumstances.
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But hosts have STR insurance. They don’t rely on homeowners’ insurance. The company that provides the STR insurance is the first point of contact to determine whether the trailer and ATVs are covered. All insurance companies are different but with STR insurance companies of my knowledge, easily movable items (ATVs, vehicles, kayaks, bikes etc.) belonging to guests are not covered. Guests should have their own travel insurance.