Choosing insurance for a sometimes-rented ski condo

October 10, 2024 8:17 AM

Have a ski condo in a mountain rental program. Trying to decide if I need heavyweight insurance for short term rentals or if I can go with a less expensive policy - what coverage do you have?

I own a small ski condo in a building with over 50 units. We rent it out nightly when we're not using it, about 12 weeks a year, through the mountain's rental program.

I originally got Proper insurance, which is popular for short term rentals, thinking I would rent it out myself on a platform like Airbnb. I ended up renting it out through the mountain rental program instead, and now the insurance cost feels unnecessarily expensive. I got a quote that I got from a normal insurance agency and it's a fifth of the price. Both policies take into account the fact that I'm renting it. The more expensive policy has more general commercial coverage, and more coverage in general, but I'm struggling to justify 5 times the cost. I doubt others in my building who are also renting have an expensive policy (though I don't have contact info to check).

I understand that YANMIA (you are not my insurance agent) but I'd love perspectives of people in a similar situation (renting vacation property, especially through a management company) - how did you choose insurance?

posted by beyond_pink to Home & Garden (1 answer total)

Speaking as someone NOT in your position, but who is an elected official in a small community where we recently updated our zoning policies on short-term rentals, the village requires that short-term rental owners carry $250,000 in liability insurance (in addition to other village level and county level requirements and fees).

If there's a similar requirement in your location, do both potential policies include the amount of liability coverage you need?
posted by Lawn Beaver at 8:55 AM on October 10 [1 favorite]