Turn Chaos Into Calm With Room Rental Insurance
Financial Implications and Cost Considerations
The cost of room rental insurance can vary based on several factors, including the location of your property, the type of coverage you choose, and the number of rooms you rent out. On average, you might expect to pay between $150 and $500 annually for a policy, depending on these variables. While this is an additional expense, the potential savings in the event of a claim can far outweigh the initial cost1.
It's also worth noting that some insurance providers offer discounts if you bundle room rental insurance with other policies, such as auto or homeowners insurance. Be sure to visit websites of insurance companies to explore these options and potentially reduce your overall insurance costs.