If You Air B and B Your Home, READ THIS, Word Salad from Kamala

"Because we have the ability to see what can be unburdened by what has been and then to make the possible actually happen." – Kamala Harris 3/7/2022

Good morning, it's 4:43 a.m. I have a class that starts at 6:00 a.m. I hope you had a great day yesterday and as you read these words, know that I'm am sitting watching a screen learning about insurance. After 31 years in this business, I still have a passion for education.

I was working in my dining room when my Ring camera went off. The police were on my porch at our Indy home, ushering someone off. Thank you, IMPD. Later in the afternoon, while in a carrier meeting, the same man walked on our porch, sorted our mail, and stood around. With RING, I can speak to my guest, so I said, "Hey man, what's your name?" He looked shocked; I said, "I did call the police; I would suggest you leave to save yourself from more trouble." He did leave; the police returned for a courtesy check; again, a big thank you to IMPD.

Most know we do Air B and B our Indy home, which is the purpose of this piece. I have friends who have started doing this, and my main advice is to update your insurance. If you rent your home on a short-term basis, you must change your homeowners to a commercial policy to pick up the additional liability. 

Many carriers have endorsements that can accommodate this exposure, but if you think about using your home as a short-term rental, find an insurance agent who understands the exposure. Your standard homeowners will usually not respond in the event of a loss during a short-term rental. Expect to pay about 25% more for your premium, but at claim time, you won't have an issue with a carrier finding out that your private residence is now akin to a small hotel.

Well, there you go, a minor update, a crime watch check-in, and some good information about Air B and B'ing your home. It's beautiful outside, albeit cold. Bailey arrived last night; she and I are taking the same class, then we will be attending meetings on Friday with my wife. I see a few card games in my future, some silly television, and a great night's sleep.

"Because we have the ability to see what can be unburdened by what has been and then to make the possible actually happen." – Kamala Harris 3/7/2022