I rent a room in my place and I am going to renew my home insurance, I found one broker that can offer me contents insurance + public liability and it is good, unfortunately it will not cover for accidental damage, if a guest leave a candle unattended and burn the house the insurance will not pay. I am concerned also because in the winter time I am hosting students for several months and at the some time want to travel abroad.
I found a smoke detector that warn you on your mobile phone if there is smoke in my home and I might install it.
Which kind of insurance do you have especially if you are hosting short term your whole property?
I have a home owners policy with a special rider for Short Term Rentals and I was very lucky that my original policy was written by an insurer in Saratoga Springs near the New York State Adirondacks Mountains. The Adirondacks have a long, long history of STR homes, so to have a rental that is also owner occupied at least half the time was not a foreign concept to them. I also have a 1M policy for liability through my employer.
I had called Geico and Allstate they didn’t know what I was talking about. A landlord policy could only be offered if the owner did not reside on the property. That was a couple years ago now, though. It might have changed.
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I have home insurance that covers me + (2 paying guests or 2 lodgers or a mix of both).
It covers standard home, accidental damage, theft, contents and public liability. Pretty much covers me in all situations. £29.95 p/m.
Wish they had that in the States!
Here in Ontario I managed to get STR insurance for my whole home. I live here, and they don’t allow anyone under 19. They also do not allow guests to use the oven or cooktop (yay!) I pay roughly twice as much as regular insurance. PM me if you want details.