The short term-rental market, Airbnb especially, has really taken off the past few years. We work with our clients to understand the additional risks of renting their home out, how this effects their insurance, and also what insurance companies will and won’t accept the property being rented out. It’s important to keep an open line of communication with your agent to make sure your home, your biggest asset, is properly insured. Certain companies will not allow Airbnb or other short-tem rentals. Massachusetts legislation has passed new rules regarding these situations effective 1/1/2019. For more information regarding these changes, please follow this link to MAIA’s post – https://www2.massagent.com/publications/ma-homeowners-who-operate-short-term-rentals-must-now-register-tax-insure-their-properties .
For more specific questions regarding your property, always feel free to contact us and we can discuss your situation.