The Proper Insurance® policy is a comprehensive commercial policy, custom-penned by Lloyd’s of London to entirely replace your current coverage.
Proper Insurance® covers both personal & commercial use of your vacation rental: Most vacation rental owners have “dual-use” of their vacation rental; being used as a personal vacation home and a commercial short-term rental. Because the Proper policy has no occupancy or vacancy restrictions, there is coverage in place at all times with us.
Coverage Comparison: Not all insurance is created equal, especially when it comes to short-term vacation rental properties. Beware if your current coverage states any of these following terms:
* Personal Liability (found on a homeowners form)
* Premise Liability (found on a landlords form)
* Dwelling (DP) or Landlord Policy
* Loss of Use
* Medical Pay
* Punitive Damages Exclusion
* Liquor Liability Exclusion
*If you have any these terms on your current policy, please call or email me with questions. I will take the time to explain why the Proper policy is a step above the competition, and is the most comprehensive coverage available in the U.S. today.
Proper Insurance® Policy Highlights: Designed to replace your current coverage.
* Commercial Package Policy: coverage for building, contents, liability, and income.
* Building & Contents: special cause of loss (all risk) with replacement cost valuation (new for old).
* Liability: $1,000,000/$2,000,000 in commercial general liability (extends beyond premise).
* Income: actual loss sustained business income coverage with no time limit.
* Additional $1,000,000 in personal liability when rental “doubles” as primary residence.
* Liability coverage enhancement for animals/pets & liquor.
* Liability coverage extended over amenities: pools, bicycles, small watercraft, golf carts, rec area, + more.
* Property coverage enhancement for theft and damage caused by a renter.
* Vacancy clause removed with no standard occupancy restrictions.
* Underwritten by Lloyd’s of London, AM Best’s Rated A.