Here’s what most vacation rental owners don’t realize: your homeowners and landlord policies may be leaving you wide open in terms of liability.

Your homeowners policy typically only covers you and your property when it’s not being used for a commercial purpose. Most homeowners policies have exemptions for what they will and will not cover if the property is being used commercially, which includes vacation rentals, as do most landlord policies.

That means even if you think your policy covers property theft, property damage, or your personal liability, you may well wind up paying the cost yourself because a short-term rental doesn’t quite fall under either policy type.

Commercial policies can potentially cover the gaps in both of these types of coverage, but they are extremely expensive to procure – typically $4,000 or more.

Which is why Evolve partnered with Assurant to create insurance coverage specifically for properties being used as vacation rentals: Property Protection Plus by Evolve.

What does Property Protection Plus cover?

Property Protection Plus by Evolve covers owners for up to $3,000 worth of property damage or theft caused by guests renting their homes. In addition, we are also able to make post-stay charges for any willful damage or theft by guests.

Property Protection Plus also provides $1,000,000 in liability coverage in the event that a renter or one of the renter’s guests is injured while staying in the property. This liability protection is the biggest gap in most vacation rental owner’s existing policies, and we think it’s essential every owner have it.

Who provides Property Protection Plus?

Property Protection Plus by Evolve is fully backed by Assurant.

Assurant is a Fortune 500 company with an exceptional reputation and expertise in property protection, and we’re very pleased to partner with them. We brought them our expertise on the types of problems owners are most likely to encounter while renting, and Assurant obliged by creating a policy exclusively for Evolve to address those essential protections.

The result is an industry-leading coverage policy specifically designed for vacation rental owners.

You can read the policy details here.

What does Property Protection Plus cost?

Property Protection Plus is an included benefit for all Evolve owners. We want you to have the peace of mind of knowing both you and your property are protected while renting.

Evolve has always charged a damage protection fee directly to travelers, and we will continue to do so with the new Property Protection Plus insurance program. The fee averages to about $14.50 per night for the traveler, making it one of the most affordable options available for the amount of coverage provided.

How do I file a claim?

You don’t! We’re excited to announce this is one more tedious task we can take off of Evolve owners’ plates. We simply need owners to report the damage to Evolve within 3 days of the guest’s check-out, and provide photographic evidence if possible.

We will file all claims on your behalf, ensuring that the paperwork is submitted correctly and that your claim has the best chance of fulfillment. We’ll follow up with owners for any additional invoices, receipts, or other necessary information. As we’re working directly with Assurant, we can process claims quite quickly – sometimes in as little as 48 hours – so you don’t have to wait for long to get a resolution.

If you’ve ever had to file an insurance claim before, you know it can be a tedious and time-consuming process. With Property Protection Plus, we’re staying true to our mission to make vacation rental easier for everyone – by providing both peace of mind and ease of use.

Have questions about the new Property Protection Plus by Evolve? Need to file a claim for recent damages? Give us a call at 877.818.1014 (x2) and we’ll be happy to help you out.

Property Protection Plus by Evolve is just one of the ways we look out for the best interests of our owners. Click here to learn more about Evolve’s services and how we ensure more bookings with less hassle.