HomeAway Launches Vacation Rental Properties Insurance Product

July 25, 2012

HomeAway, Inc., an online marketplace for vacation rentals, is now offering HomeAway Assure, a CBIZ Insurance Program product that is tailored specifically for vacation rental properties. The product features an online calculator that delivers a quote within five minutes.

Provided in partnership with CBIZ Insurance Services, Inc., HomeAway Assure enables any U.S. vacation home owner, not just HomeAway customers, to insure their property with a policy designed to cover the risks specific to vacation rentals not included in many second home insurance policies, including:

  • Third-party liability coverage protects the homeowner against lawsuits or expenses associated with a renter suffering bodily injury while on the rental property.
  • Property damage and replacement cost coverage for the home and its contents are offered at varying deductible rates. This coverage extends to a home’s amenities such as a swimming pool, watercraft or docks and piers.
  • Business interruption coverage protects against the loss of rental income as a result of an unexpected disruption such as a house fire, natural disaster or other coverable incident that would render the home unable to rent.

“It is a common misconception among owners that their vacation rental homes are adequately covered by traditional second home insurance policies,” says CBIZ Insurance Services Senior Vice President Scott Wolf.

HomeAway, Inc., based in Austin, Texas, represents approximately 700,000 paid vacation rental home listings throughout 168 countries. The company also allows for vacation rental owners and property managers to advertise their properties and manage bookings online.

CBIZ, Inc. provides professional business services that for clients to manage their finances and employees. CBIZ provides its clients with financial services including accounting, tax and consulting, internal audit, merger and acquisition advisory and valuation services. Employee services include employee benefits consulting, property and casualty insurance, retirement plan consulting, payroll, life insurance, HR consulting, and executive recruitment.

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