Short-Term Rental Insurance
If you’re a landlord in Australia navigating the choppy waters of short-term rentals, you’re likely already aware of all the risks associated with this line of business. Unexpected damages, rental income loss, property theft, and legal liability – the list goes on. That’s where we come in.
At Duo Insurance, we aim to be your beacon of hope in the uncertain world of short-term rentals—whether you’re listing on Airbnb, Stayz, or another platform. Your property is a significant investment, so protecting it should be just as important.
Our short-term rental insurance is specifically tailored for landlords like you who appreciate having total peace of mind to focus on what matters most – offering exceptional experiences to their guests. This comprehensive protection includes cover for various scenarios such as loss of rent due to tenant-related issues and damages caused by specific events, ensuring you are well-protected.
How Does Short-Term Rental Insurance Work?
Think of short-term rental insurance for landlords as your safety net. It’s specifically designed to protect properties rented out for short periods, such as holiday rentals and Airbnb properties.
Your standard landlord insurance policy may not extend coverage to short-term rentals; the same applies to standard home or contents insurance policies. This is because renting out your property to paying guests is considered a business activity by many insurance providers, which standard landlord insurance policies may not accommodate.
This gap in coverage often leaves hosts feeling vulnerable to financial loss and legal liability.
Enter: Short-term rental insurance – a product designed to address this problem. With options including pay-per-night short stays and longer-term rentals, short-term rental insurance offers robust protection against a wide range of risks, including accidental damage by paying guests or even legal costs that could skyrocket.
Why Choose Short-Term Rental Insurance?
So why should you consider short-term rental insurance as a landlord? The answer is simple: the peace of mind it offers.
While most standard home and contents insurance policies still don’t cover the unique risks associated with short-term rentals, we offer tailored solutions for landlords managing properties on platforms like Airbnb or Stayz. Short-term rental insurance can also cover unpaid rent due to tenant default or early termination of the rental agreement.
Opting for this form of landlord or investment property insurance also gives you the following:
Specialised coverage
Short-term rental insurance includes tailored cover for various risks landlords may encounter. These hazards range from expensive legal costs to unanticipated damage by paying guests. This falls under similar coverage to host liability insurance.
Flexible options
This type of insurance allows landlords to choose coverage based on their needs, whether it’s a six- or twelve-month policy with unlimited bookings or other flexible options designed for frequent rentals. These features enable you to maximise your rental income without compromising your insurance coverage, which isn’t often found in traditional home insurance policies. Additionally, the insurance can cover losses when tenants leave without providing the required notice, leading to potential loss of rent.
Business activity cover
Regular insurance policies may not cover short-term rentals as these are often considered business activities. Short-term rental insurance provides cover in situations where traditional policies may fall short, closing the gap that could otherwise lead to substantial financial losses. Additionally, the insurance can cover fees and representation costs associated with eviction and rent recovery processes when a property manager is engaged.
Secure Your Investment with Duo Insurance
Investing in property is no small feat. It’s an asset with immense value, both financially and personally. But renting it out on a short-term basis also exposes you to a unique set of risks, ranking from accidental damage caused by paying guests to whopping legal costs.
This is where Duo Insurance comes to your rescue.
We understand that your property is not just bricks and mortar; it’s a substantial investment. Our short-term rental insurance is crafted to give landlords the peace of mind they require when letting out their properties.
While most standard landlord insurance policies may offer some coverage for infrequent room rentals, they don’t truly encapsulate the risks of a short-term rental. You need a safety net under your property, guarding it against all conceivable scenarios without leaving gaping loopholes.
Duo Insurance’s short-term holiday rental insurance is tailor-made for Australian landlords in the rental sphere. This form of Airbnb insurance cover includes protection not just for your property, but also its contents. From costly legal disputes to unforeseen damage at guests’ hands, rest assured that you’re shielded comprehensively.
So, why worry about shortcomings in your traditional insurance offerings when we have you covered?
Features You'll Love in Our Short-Term Rental Insurance
Thoughtfully crafted with Australian landlords in mind, our coverage is designed to give you peace of mind and financial security. Here are the top features that set us apart:
- Fixed-Term Policies: Choose six or twelve-month policies with unlimited bookings if your property is frequently rented out. This ensures your property is protected year-round without worrying about gaps in coverage.
- Extensive Coverage: From accidental damage caused by guests to expensive legal costs, Duo Insurance has your back. Our coverage caters to a broad range of risks, ensuring your short-term rental business thrives undeterred by potential setbacks.
- Comprehensive Home and Contents Insurance: To ensure complete protection, our insurance also covers loss or damages to the contents of your rental property—from furniture to appliances.
- Flood Damage Protection: Our insurance covers damages caused by flooding, specifically highlighting the impact of water that covers normally dry land. This is crucial for properties located near natural water bodies, protecting against potential damage to structures and contents.
- User-Friendly Service: Managing your insurance shouldn’t add stress to your business. Our platform lets you manage your policy and make claims quickly and hassle-free
With Duo Insurance, you can focus on providing the best experience for your guests while we focus on protecting you and your property. We believe in a customised approach and offer insurance products that can be tailored to your specific needs.
Contact us now for a quote on a policy that suits you and your property best.
Secure Your Investment with Duo Insurance
Investing in property is no small feat. It’s an asset with immense value, both financially and personally. However, renting it out on a short-term basis exposes you to unique risks ranging from accidental damage caused by paying guests to whopping legal costs.
This is where Duo Insurance comes to your rescue. We understand that your property is not just bricks and mortar; it’s a substantial investment. Our short-term rental insurance is crafted to give landlords the peace of mind they require when letting out their properties.
While most standard landlord insurance policies may offer some coverage for infrequent room rentals, they don’t truly encapsulate the risks of a short-term rental. You need a safety net under your property – guarding it against all conceivable scenarios without leaving gaping loopholes.
Duo Insurance’s short-term holiday rental insurance is tailor-made for Australian landlords in the rental sphere. This form of Airbnb-style cover includes protection not just for your property but also its contents—from costly legal disputes to unforeseen damage caused by guests. Our comprehensive policy includes cover for loss of rent due to tenant-related issues and damages caused by specific events, ensuring you are protected against a wide range of incidents.
So why worry about shortcomings in traditional insurance offerings when we have you covered?
With Duo Insurance, you can focus on providing exceptional experiences for your guests while we focus on protecting you and your property. Contact us today for a quote on a policy that best suits you and your property.
FAQs About Short-Term Rental Insurance
Does my standard landlord insurance cover short-term rentals?
Most standard landlord insurance policies do not fully cover short-term rentals because they are considered business activities by many insurers. However, some insurers now offer limited coverage under specific conditions, so always check the policy terms.
What types of damages does short-term rental insurance cover?
Short-term rental insurance typically covers accidental damage caused by guests, malicious damage (depending on the policy), loss of rent due to tenant default or property damage, and legal liability costs.
Can I get pay-per-night coverage?
While pay-per-night options were more common in previous years, fixed-term policies (six or twelve months) with unlimited bookings are now more widely available and provide broader protections.
Do I need additional contents insurance?
Many short-term rental policies include contents coverage; however, coverage limits vary between providers. Ensure that high-value items are adequately insured under your policy.