Report: Indiana Bill Eases Airbnb Host Restrictions & Impacts Insurance Cover

As an Airbnb host in Indiana, it can be frustrating when the Airbnb Host Guarantee and any built-in insurance coverage have gaps that don't cover damage, vandalism, theft, and other circumstances. Proper Insurance can help you find the cover you need and stay compliant with the new state laws and local regulations.

Proper Insurance has released a new report that explores the legal and regulatory changes that make it vital for Airbnb owners and hosts like you to carry adequate insurance.

The key to the puzzle is House Bill 1035 sponsored by Rep. Matt Lehman. This new piece of legislation has loosened some of the stringent Airbnb laws enacted and enforced in Indianapolis, Carmel, and other cities across the state.

For more information, visit https://www.proper.insure/blog/

With the state capital relaxing some of the regulations governing Airbnb rentals and the city of Carmel mulling the removal of the Airbnb ban, the Proper Insurance report helps you understand the liability insurance requirements for Airbnb hosts and property owners.

House Bill 1035 was enacted in 2018 and now requires you as a vacation rental owner to file a Special Exemption Application for your short-term residential rental units. The loosening of these regulations also requires you to carry additional insurance for these properties.

Insurance experts at Proper Insurance are standing by to help you identify the gaps in your current coverage. They will work closely with you to identify the type of policy you need to comply with all applicable laws in the changing regulatory environment. The company offers a special policy for Airbnb Hosts underwritten by Lloyd’s of London.

The Airbnb property owner's policy can replace any existing policy and features $1 million in standard commercial liability cover and an optional $2 million add-on cover. The "all-risk" policy covers special causes of loss for the building and its contents and does not limit damage, theft, or vandalism by guests. Under this policy, liability can also be extended to boats, fitness equipment, hot tubs, pools, and other amenities.

In the new report, Proper Insurance also highlights that House Bill 1035 represents a major victory for Airbnb hosts and owners in that the state can no longer enact prohibitive laws against short-term vacation rentals.

The company's Airbnb host insurance policy protects you and all policyholders against business income losses - a key aspect of compliance with state laws and local regulations. Through Lloyd’s of London, Proper Insurance has underwritten 100,000 policies in all 50 states.

A Proper Insurance policy can give you the best cover of all - peace of mind.

Visit https://www.proper.insure/ for more information about how your Airbnb in Indiana can get the best short-term vacation rental policy that meets your needs!

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Created on Oct 8th 2022 02:10. Viewed 103 times.

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