Is your investment property actually protected? Don't wait until it's too late!

Kylee & Steven - Short Term Rental Experts

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In this video, we’ll review a standard insurance policy and show you what each section means and the coverage amounts that we typically like to get for our properties or have our clients get for theirs.
But we’ll also be going over some of these big shifts in the insurance world, from major companies pulling out of states to new companies on the scene who’s default policies don’t cover even the basics like water damage.
With all of these setbacks combined with the increase in Airbnb’s Air Cover, is having specific coverage for your short term rental really necessary anymore? Let’s dive in and find out.
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Our insurance broker:
Mike Mauger, Ives Insurance
www.ivesins.co...
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Our consulting calendar is back open!
calendly.com/k...
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All of the information that we will be sharing in this video today is for general information purposes only and any action that you take is at your own risk. Please consult a qualified insurance representative.

Опубликовано:

9 сен 2024

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Комментарии : 8

@paulycrew Месяц назад

As a 45-year Insurance Broker working in the business insurance space, I approve this message. Kylee and Steven provide excellent advice! I would simply add that anyone seeking quotes should search for an Independent Agent and make it crystal clear to the agent that your property is a Short-Term rental. Following that, a simple question like "Do you have experience writing insurance for this type of property?" would be in order. If they hedge and say "no," move on. If they say "yes," ask them about their experience. Great job Kylee & Steven!

@dca1onge Месяц назад

Great tip!

@Sulfen Месяц назад

It's good to build a relationship with your insurance agent. I am with State Farm and have been with them since I was 18 years old so a bit over a decade and I first started with a car and renters policy and then eventually to homeowners and then homeowners rental dwelling. Since I have been with them for so long with few claims they put me on their main insurance company so I pay about $380 a year per house and $500 in a house where I live. My friend who kept jumping around insurance companies pays $1,200 for the same type of house/coverage with State Farm but was paying $2,600 with Geico or AllState (I forget which).

@dca1onge Месяц назад

Nice video, guys. I get some of the same statements from owners regarding the need for STR-specific insurance.

@SeascapeVacations Месяц назад

Thank you all for doing this video. Its so funny cause I literally been digging into insurance for STRs for last 30-50 days and I checked your page first and didnt see any recent video regarding insurance. Reinforced a lot of what I read. Would like to add: I manage in FL so many times "Wind" and "Hazard" are seperate. "Commercial" Hazard is a must have and is not always that much more money. I just got commercial hazard for same cost as the landlord policy I had.. BUT "Commercial" Wind in FL is MUCH HIGHER... Key difference is "Commercial" Wind covers for loss of rents due to hurricane, but from my understanding, normal wind policy still covers home damage/replacement. In your states, do they seperate any policies in a similar manner to FL? If so, do you all have commercial policies accross the board or just with Hazard?

@MegInWhispers Месяц назад

hey guys! off topic, but can you remind me of your link to your house amenities? specifically wondering about pack n play with fitted mattress and sheet, and infant tub. seeking to add more quality family friendly amenities to out VT cabin. thank you!❤

@kyleeandsteven Месяц назад

arrivls.com/blog/our-str-sample-inventory/ 😊

@MegInWhispers Месяц назад

@@kyleeandsteven - perfect, thanks so much!