"There are huge gaps in the traditional homeowner policy for second homes that should not be ignored. For example, what if a guest was injured while staying at your rental property and claimed you liable? Or, what if a guest damaged or destroyed your rental property as a result of a fire?
With a standard homeowner policy, these claims could be denied. Many insurance carriers will cancel policies if they discover the home is being rented on a short-term basis, typically 30 days or less at the time. If this happens, they’ll just tell you, you’re not covered.
The good news is there are now several preferred carriers that will write the type of policy that Tahoe and Truckee property owners need if they use their home as a vacation rental.
If you’re going to rent out your house, you want to make sure that the home is insured so that you, the owner, can you occupy it and also safely rent it out on a short-term basis."
Link to entire article: Lake Tahoe real estate: Short-term rentals — long-term problems? | SierraSun.com:
Thank you for viewing the Incline Village Real Estate blog. If you require additional information or discussion please contact me via Randy@RandyBull.com.Incline Village MLS listings are updated every 15 minutes on Realtor.com. Follow this link to search.
