Owner Insurance

Is there a company that insures time share owner for renter liability and damage?

james3381 wrote:

Is there a company that insures time share owner for renter liability and damage?

If you are the owner, YOU are solely responsible for any damages caused by someone you rent to in a private rental (one that you have conducted on your own). If the resort rents out your week FOR you, then the resort is solely responsible for any occupant damages. As far as "liability" goes, I would be strongly inclined to believe that the resort (NOT the owner) would be solely responsible for any "liability" (safety, etc.) issues on the property, since an individual owner obviously has no direct control over any physical property issues.

That said, most resorts will require a guest to provide a credit card imprint upon check in and any damages will be immediately charged to that credit card. Damages in excess of the authorized credit card amount are ultimately the responsibility of the owner of the interval. The owner may "chase" the tenant for reimbursement, but the resort will ONLY "chase" the owner if it was a private rental in which the resort was not involved.

Truth to tell, damage issues in timeshare rentals are relatively rare. Many people refuse to rent their timeshare to college "Spring Breakers" (or anyone else under the age of 25, for that matter), which is certainly their right and prerogative as an owner.

This company works with VRBO members and homeaway. If you are only renting one or two weeks it is probably prohibitively expensive but I haven't checked. I am not endorsing them - just mentioning that there is such an insurance.

https://www.cbiz.com/insurance-hr/services/property-casualty/vacation-rental