The Super Bowl and Home Insurance

Dallas Cowboys and Houston Texans fans are licking their wounds today as both teams were knocked out of contention in the past weekend’s games. It will be interesting to see whether who will play in the Super Bowl. Will it be the Green Bay Packers, New England Patriots, Atlanta Falcons or Pittsburgh Steelers? But just what is the connection between the Super Bowl and home insurance?

If you’d asked me Sunday, I would have said there wasn’t one, but a conversation with one of my underwriters today changed my mind. I was reminded that some people rent their homes to people attending major sporting and entertainment events to people attending a Super Bowl, World Series, Final Four, or the Masters. People who do are able to make a little easy, extra money providing a home away from home for the festivities while they are going on.

Making a little extra money renting your home to a family of avid fans or business colleagues sounds like easy money and very low risk. There’s a catch though. If you do rent your home for such an event and you incur property damage from someone who decides to trash your home or is hurt and sues you for negligence, your home insurance policy will not cover it. Home insurance policies are not written to cover rental property and you could end up with a denied claim and having to pay for repairs or a lawsuit on your own.

There is, however, a temporary rental policy my underwriter informed me that they write which is perfect for this situation. The policy provides up to a month of property and occasion. If something is broken by the renter or they sue because they slip in the shower after one too many adult beverages, this policy covers it.

The rate on this temporary rental property policy is attractive too. My underwriter had quoted one for another of his other agents earlier today on a $350,000 home. The rate was a little more than $330. While that may eat into your rental income, it does provide a wonderful peace of mind for the homeowner when their regular home insurance policy won’t cover such a loss. You could even say it’s priceless!

What do you think? Share your thoughts, questions, and experiences with me on my Facebook, Google +, and LinkedIn pages. I’d love to hear from you!

Evie Wise
Evie Wise


Evie Wise
Evie Wise

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