Proper Insurance (888-631-6680) has released a report covering recent changes to short-term vacation rental guidelines in the state of Indiana. The report stresses the need for robust insurance for Airbnb property owners and hosts.
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The new report by Proper Insurance explores the legal and regulatory changes that make it vital for Airbnb owners and hosts to carry adequate insurance. The report cites House Bill 1035 sponsored by Rep. Matt Lehman as loosening some of the restrictions on the stringent Airbnb laws enacted and enforced in the city of Indianapolis.
For more information, visit https://www.proper.insure/blog/
With the state capital relaxing some of the regulations governing Airbnb rentals and the city of Carmel mulling the removal of the Airbnb ban, the Proper Insurance report highlights new liability insurance requirements for Airbnb hosts and property owners.
House Bill 1035 was enacted in 2018 and now requires vacation rental property owners in Carmel to file a Special Exemption Application for short-term residential rental units. The loosening of these regulations also requires owners, hosts, and businesses to carry additional insurance for these properties.
Proper Insurance works closely with applicants and policyholders to help them identify the type of policy they need to comply with all applicable laws in the changing regulatory environment. The company offers a special policy for Airbnb Hosts underwritten by Lloyd’s of London.
The Airbnb property owner’s policy can replace any existing policy and features $1 million in standard commercial liability cover and an optional $2 million add-on cover. The “all-risk” policy covers special causes of loss for the building and its contents without exclusion for damage, theft, or vandalism by guests. Under this policy, liability automatically extends to boats, fitness equipment, hot tubs, pools, and other amenities, both on and off the premises.
In the new report, Proper Insurance also highlights that House Bill 1035 represents a major victory for Airbnb hosts and owners in that the state can no longer enact prohibitive laws against short-term vacation rentals. The company’s Airbnb host insurance policy protects policyholders against business income losses – a key aspect of compliance with state laws and local regulations.
According to a spokesperson for the national short-term vacation rental insurance company, “Proper Insurance leads the Nation in short-term rental insurance, with over 100,000 policies written in all 50 states. Backed by Lloyd’s of London and exclusive endorsements from vacation rental leaders such as HomeAway and Vrbo, our policies cover vacation homes, cabins, cottages, townhouses, duplexes, apartments, condos, and more. With expert vacation rental underwriters, we can tailor a policy specific to your short-term rental property.”
For more information, visit https://www.proper.insure/
Contact Info:
Name: Justin Brodin
Email: Send Email
Organization: Proper Insurance®
Address: 1203 North Rouse Avenue #3D, Bozeman, MT 59715, United States
Phone: +1-888-631-6680
Website: https://www.proper.insure/
Release ID: 89082850
