Property Insurance help for STR's

[Lyn13]

Can anyone give me some helpful info for short term rental insurance. I have a couple of quotes and they came back outrageous! I have not every filed a claim so my insurance is low. The quotes I received are 3-5x the amount that I am currently paying. That would make me have to increase my rates and I fear I will lose guests. Please help, there are so many STR's out there and I there has to be a solution. 

[Lisa723]

@Lyn13 Many/most insurance companies will not insure STRs, and those that do charge more. Foremost and Proper are two.

[Letti0]

@Lyn13  Your price is too low already. Granted mine is extermely high for the area the most part, but for what I offer it's fair. You should also probably have an extra guest fee for over 4, I have one for over 8 and my price $20 per person even if you did $10 it would be something to weed out discount shoppers. Way too many hosts in our area are charging too little and I have no desire to compete with them on a race to the bottom. Are you even covering your A/C and cable costs? Try a broker to see if you can get some better quotes. 

[Pete28]

No easy answer so far. If you think the guests look problematic then use slice for per night insurance $8ish per night. I buy it when I am out of town.

proper wanted 3x more for home insurance than my current non STR policy. $2k+ and with $5k deductible which means I'd be unlikely to claim.  

Latest Airbnb Q&A suggested rate of claim was extremely low on host guarantee so insurance co are making $$$

[Sean140]

Hi Lyn.  I would be happy to help you.  I have owned my insurance agency since 1991 and we devote a substantial amount of time to STR in our practice.  I have numerous options available for you.  Please contact me if you are interested.

Sean F Murphy Insurance Agency, Worth ,IL

[Sharon1378]

@Sean140 hi Sean! I’d appreciate your help with insurance.  My STR is in Ojai, CA.

[Sean140]

Hi @Sharon1378. .  I should be able to help you. Please call me at tomorrow to discuss. **personal information removed**. Thanks!  

[Sharon1378]

Hi Sean, As you can see, your personal contact info was removed. What’s the name of your company so I can Google it? Thanks! 

[Melissa1511]

I am in Smith River, Ca. Can't find any homeowner insurance. Fivethree0 nine2one 5187

My name is Melissa Anderson 

[Lyn13]

I have tried a higher rate and do not get many reservations. I have low to try getting more reservations and see how that goes. I guess I will have to raise now to cover the higher STR insurance, taxes, and costs.