The #1 Personal Finance and Investing Podcast in Hawaii!
June 6, 2021

46. Short Term Rental Insurance with Elaine Eugenio

46. Short Term Rental Insurance with Elaine Eugenio

Join Mike Cavaggioni and Elaine Eugenio on the 46th episode of the Average Joe Finances Podcast as they discuss short-term rental insurance for property owners and managers. Elaine Eugenio is the founder of Insurance For Hosts, where they make insuring short-term rentals easy. The agency is open to clients all across the United States, whether Airbnb, Homeaway or an independent website. Today, Elaine shares her journey, from turning down an insurance job offer, taking different career paths, and eventually starting an insurance agency herself.

In this episode, you’ll learn:

• Why a regular landlord rental policy is not sufficient for short-term rental properties.

• The four basic coverages of a short-term rental policy and how it differs from a landlord policy.

• How not every guest will be mindful of the property and why insurance rates for short-term rentals are higher.

• What goes into becoming a short-term rental host and setting realistic expectations for your property.

• The spectrum of short-term rental arbitrage and why you should not rent out a property you do not own.

• And much more!

About Elaine Eugenio:

Elaine Eugenio is the founder of Insurance For Hosts. What sparked the agency’s creation was a situation Elaine found herself in back in 2011. Like many, she was familiar with short-term rental sites, such as Airbnb and VRBO, and how they could further help others with a love of travel stretch their travel dollars. But unlike most travelers, Elaine’s mind automatically went from thinking about trips to asking questions like “How does the insurance work if you are a host?”, “How are losses covered in case of emergencies?”, “What happens if a host is renting out their primary residence?” so on and so forth.

Elaine knew she could not possibly be the only insurance agent asking these same questions. But, she was surprised to find that there were not many in her immediate area or even across her state who knew the answers or were even willing to find out the answers to these questions associated with insuring a short-term rental property. And so, throughout the years, Elaine has committed to answering her initial questions all those years ago and the ones most property owners would never even think to ask. Hence, to properly insure and protect her clients, Elaine earned a Short Term Rental Property Inspector certificate so that she can offer more insight into possible claims, issues, and concerns.

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