Why Your Management Company Should Insure Your Property

Have you ever had a guest cause damage to your property? If you’ve been in the vacation rental game long enough, it’s bound to happen.

You can’t see property damage coming and you certainly can’t plan for it…

or can you?

I was talking to an insurance agent who was trying to sell me umbrella coverage. I didn’t buy it at the time, but he told me a compelling story:

A neighbor was doing a cookout and the grill was located near someone else’s house. Things got a little out of hand, the grill tipped over and, somehow, caught the neighbor’s house on fire. It was a bit dramatic, but the incident caused several hundred thousand dollars of damage for the neighbor. Lucky for them, they had umbrella coverage.

It was a great sales tactic, but the point remains…

Accidents happen to everyone regardless of how careful we are (or aren’t).

My question to you is: do you feel adequately covered by your current insurance? If you’re using property management, are they covering your property with insurance at all? If so, how much coverage are they offering?

Typical property insurance doesn’t usually cover damage from short-term rental guests. If they do, it’s normally a very nominal amount.

At Nightly, we want you to have the best gift of all—peace of mind. That’s why we offer $5 million dollars worth of coverage for your property. That’s coverage that kicks in before your property insurance is ever needed. Our provider also pays out lightning fast (within a couple of weeks), rather than months.

Don’t get stuck holding a massive bill you can’t afford to pay; or worse, having a property management company that offers little to no coverage at all.

Call us if you want to see how our solution stacks up against coverage offered by other property management crews (I promise you, it’s better).