BOZEMAN, Mont., May 29, 2019 – While the vacation rental industry’s spotlight has largely been focused on upcoming votes surrounding the regulation of high-profile destinations, Proper Insurance has quickly become a household name for commercial homeowners coverage, surpassing 30,000 policies written in the 50 U.S States.
Proper Insurance has also taken steps to reduce the workload on appointed brokers, property managers, and current clients by rolling out a new auto-renewal program which promises convenience to the client, and increased production for the over 2,000 appointed brokers within the Proper network.
Proper’s National Sales Manager, Nick Massey attributes this impressive 5-year growth to a risk-savvy business model and human underwriting on every account;
“The truth is most vacation rental programs do not survive; as managing general agents get greedy and accept less than favorable risk both from property and liability standpoints.”
Mr. Massey attests Proper’s success lies in consistent, intelligent underwriting, and constant innovation – keeping Proper’s short term vacation rental policy well ahead of its competitors.
While many competing products are scrambling adjust to and meet the needs of US municipalities who now require up to $1,000,000 in commercial general liability insurance, Proper has offered this since day one of their program. In fact, Proper Insurance has recently allowed customers to raise their liability limit to $2,000,000 and unveiled a host of enhancements aimed squarely at the most common and costly claims short term vacation rental owner’s face. A first-of-its-kind bed bug endorsement is being automatically included on all policy renewals, covering the cost of extermination and 7 days of lost business income (subject to a $15,000 maximum limit). Additionally, Proper has partnered with the nation’s three largest manufacturers of “automatic water shut-off devices” to provide a property premium discount should one of these devices be installed.
Proper Insurance is committed to providing industry education in a confusing market. Property managers, HOAs, and vacation rental owners are being required to understand and vote on the regulation of these businesses. Proper Insurance looks to provide the resources necessary to make informed and responsible decisions, while providing the nation's most comprehensive short-term vacation rental coverage.
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Source: Proper Insurance
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