Renters Insurance for a Two-Week Stay?
Hi there! I’m looking for some clarification on a situation I’m dealing with. I’m planning to rent a house directly from the owner for two weeks in a well-known vacation spot in New York. The lease draft they provided includes the following clause:
“Tenant agrees to procure and maintain throughout the duration of this lease, general liability insurance and property insurance, referred to as ‘tenant’s insurance’ or ‘renter’s insurance’, covering the premises. This coverage must be issued by an insurance provider authorized to offer such coverage in the State of New York. It should include a minimum of one million dollars per claim and one million dollars in aggregate, with the landlord named as an additional insured.”
I know that renters insurance is a common requirement, but I’m not sure if it’s typical to obtain it for just a two-week rental. Is this something that can easily be arranged? Any insights would be greatly appreciated! Thank you!
It’s understandable to have questions about renters insurance for a short-term rental. While most insurers offer policies for a full year, there are some options for short-term coverage, especially for situations like yours.
Many insurance companies provide policies that can be purchased for as little as a few weeks to a month, but the availability and terms can vary. Some companies even offer “temporary renters insurance” or “short-term renters insurance” specifically designed for situations like yours.
Here are a few steps you could take:
Check with major insurers: Companies like Allstate, Geico, or State Farm may offer short-term options. It’s worth calling them or checking their websites to see what they have.
Look into online providers: Some online insurance companies specialize in short-term rentals and may have more flexible options. Options like Lemonade or Hippo are worth exploring.
Speak to an insurance agent: A local agent can often help tailor a policy to fit your needs and guide you through the process.
Verify if your existing insurance covers rentals: If you have homeowners or renters insurance already, check if it provides coverage for short-term rentals.
Compare quotes: Always compare quotes and coverage amounts to find the best option for your needs.
It’s definitely a good idea to get that insurance, especially given the liability clause in your lease, to protect yourself and the property. Good luck with your rental!