This is a sponsored post written by Zillow.

I know many families who rent homes on a short-term basis. This often happens when the family relocates to a new city for a job opportunity, but either still has their old home mortgage to cover until the home sells OR simply because they want to take their time choosing a new place to live. Sometimes you just don’t know an area until you’ve lived there a while.

When Zillow approached me about guest posting – I asked for a piece on short term rental insurance. It’s not a sexy topic, but an important one. Enjoy the guest post and let me know if you have any questions in the comments below!

Do Short-Term Renters Need Insurance? 

Written by Jennifer Riner of Zillow

Short-term rentals are convenient, temporary housing solutions whether renters are in the midst of moving, vacationing for the summer or temporarily displaced. Some renters erroneously assume they don’t need insurance policies for brief apartment stints or beach house trips.

Renters should protect their belongings and finances by investing in coverage – no matter the durations of their stays. Similarly to 12-month policies, short-term insurance covers the following instances.

Damages to Belongings

Landlords’ policies do not cover tenants’ personal belongings, regardless of lease length. Without renter’s insurance policies, laptops, televisions, furnishings, clothing and jewelry items are at risk. Structural damages related to fires are paid for by owners’ insurance companies, but the contents inside are lost without reparations. Situations like these can’t be predicted, so it’s best to have personal belongings protected – especially since renters don’t inspect properties when searching for an apartment, unlike home buyers. Renters could be at risk if properties aren’t well-maintained and kept up to code.

Tropical vacation homes are often rented out on a weekly or monthly basis. Proximity to large bodies of water renders beach homes particularly susceptible to damages. Hurricanes can cause extensive water and wind destruction to buildings. For renters, these catastrophes can completely wipe out their possessions. Keep location, climate and season in mind when determining how much coverage is necessary for vacation leases.

Liability of Visitors’ Injuries

Some short-term renters are homeowners, temporarily renting while their homes are being remodeled. They may opt to only bring essentials such as clothes and toiletries. In these cases, individuals assume renter’s insurance isn’t as critical since expensive belongings aren’t at the rental properties. Rather, their precious goods are located inside their owned homes, covered under their existing homeowner’s policies. However, renter’s insurance covers more than material assets.

While their stuff is securely stowed, short-term renters are still liable for their visitors’ wellbeing. Renters, not landlords, are legally responsible for the safety of their guests in their leased homes. Landlords are only held accountable for injuries caused by property defects, such as roof collapses. Beach home renters should be especially concerned about protecting themselves, assuming a considerable number of guests visit at some point during their stays. If a party-goer needs stiches after tripping over a cord in the living room, the renter has to pay the subsequent legal bill.

Skipping out on insurance policies may lead to substantial financial burdens on lessees. Renters can’t prevent tornadoes from hitting or electrical fires from spontaneously occurring. They also can’t predict what kind of harm their guests may incur while visiting short-term properties. No matter the duration of the lease, opt for an insurance policy and safeguard all assets, both physical and financial.