Insurance Coverage in Florida

[Eric-and-Brooke0]

Hello all,

I am a new host in St Petersburg, FL. I recently purchased a home in the area with a detached garage in the back yard that has been converted into an apartment, which is perfect to rent out on Air BnB! However, when inquring about Homeowner's Insurance with the limited companies that provide coverage in Florida, most of them will not even cover the unit in the back at all if it's being rented out more than 3 calendar days a year, which it obviously would be. I know that Air BnB has their Host Guarantee and Host Protection Insurance which provides limited property damage and liabiltiy coverage, and I've seen that there are also short term rental insurance policies that can be purchased on a month to month basis. However, I would like to know that I have coverage on the unit in the event that something else happens to it that is not caused by or related to the guests in/on the property. Is there anyone who knows more about this topic or has any suggestions on best way to have the rental unit covered in either the same policy as my main house or another option? 

Thank you!!

[William928]

Better late than never.....I did a little research and https://www.proper.insure/ is under https://www.lloyds.com/market-directory/results?name=Proper+Insurance&mode=cov

a very respectable company I must say.

Also, found Nationwide has entered the game. 

https://www.nationwide.com/vacation-rental-insurance.jsp?fbclid=IwAR07OERe3zDzsceaZWAKRBWGWScu03CKVF...

I am new to the Vacation Rental arena

[Noga0]

Great job William1034. I'm totally happy with Proper, especially for the reason you mentioned. It's always good to also have a second option. thanks for finding Nationwide. 

[Lisa515]

I wish people would vet information before posting inaccurate information. Nationwide DOES NOT offer short term rental insurance anywhere in the country.  I called and asked after reading this. This "vacation rental" is merely your vacation home or a secondary home. 

[Colin222]

What's everyone's latest experience with homeowner's insurance on the gulf side of Florida?  My broker found coverage through Scottsdale Ins and it tripled my previous cost.  I inquired with Proper but they could not include wind without an exhorbitant increase, and when I tried to bundle just the Airbnb coverage through them, my broker said I couldn't because it was a commercial policy they were offering.

[Sandi173]

Colin

Did you come up with a company you were happy with for the insurance.  I have a agent checking for me but when I read all these problems it is making me nervous about cost.  Did you find anything reasonable for you? 

[Sandi173]

@Colin222   Sorry I sent you a message but didn't include your user name.  Colin did you find a policy for short term and also wind that you were happy with or did you have to get two separate policies?  what company did you decide to go with.  I All the chats make me wonder about cost for this type of business. 

I would appreciate any info you could give me.

Thank You  @Sandi173

[Sandi173]

@Colin222 

Colin I was wondering if you were able to find a reasonable short term and wind for florida?  Do you have an agent or company that you used?  Proper is so expensive. 

Thank you

@Sandi173 

[Sherry398]

@Sandi173  Can you share your findings with insurance in florida? 

[Sandi173]

Hello   @Sherry398    I did finally find a agent that could help me for insurance in Florida.  Her name is Tabitha and her number is 352-201-4634  She is with Security First Insurance and came up with a few companies that had coverage for short term , I am sure she can help you!

[Sandi173]

@Sherry398  let me know how it works out for you!  It is so hard  I wish hosts reached out more to help each other for sure!

[Sherry398]

@Sandi173 thank you much.

I am calling her soon, I will let you know how it goes 🙂 

[Sandi173]

The companies she has actually did wind, fire and short term and you could add on flood also! @Sherry398 

[Sherry398]

@Sandi173 
i talked to her and she took all my information and said will get back to me with a quote.

I got a quote from KIN and getting a better quote compared to another local insurance broker.

[Liz553]

Hi Sandy I sent you a message not sure how messaging works so thought I’d give you the heads up. 

[Tyson11]

@Dwayne-And-Allison0  Only option I've found so far is CBIZ -- pretty sure you cannot keep your homeowner's insurance just to keep the wind / hurricane coverage -- as the policies are incompatible.  (You "could" but the coverage would not be valid and your mortgage company would be the ones to catch you on it. Even if they didn't catch you, it would be a sad day if you actually had a claim because it would be denied.)

I'd be interested to hear how things have improved with new offerings as I haven't looked into it in a few years. @Sherry398 @Sandi173