Insurance Information

Many homeowners policies view renting a home as a commercial activity and as such, will not cover situations that may arise during a rental such as theft, damage or personal liability. These exceptions may open owners up to undesirable and unanticipated liability. This is why Marquis partnered with TERN Financial Group to offer owners both property protection and liability protection for properties being used as vacation rentals: StayMarquis “StayProtected Program”

To obtain a homeowners insurance policy that provides owners with the proper protections in the event of short-term renting, we recommend speaking with Proper Insure (https://www.proper.insure/).

StayProtected Program

Property Protection – Property damage protection for every host and every listing – at no additional cost

• Free to the host for every booking, every time

  • Whenever a guest makes a reservation for your place through StayMarquis, you’re automatically covered by our Host Protection Program
  • The StayMarquis Property Protection Program responds with first dollar repair or replacement cost protection against physical loss or damage to owner’s real and personal property when caused by a renter, with a $25,000 annual limit subject to a minimum claim of $50 and a maximum of $5,000 for any one item

• What’s protected?

  • Damage to a host’s property (possessions, furniture, contents, personal items, structures and fixtures)
  • If damages occur, documentation (photos, receipts, etc.) will need to be provided as part of the resolution process

• What’s not protected?

  • These types of property are not protected:

    • Land, water, air, electronic data, animals, motor vehicles, aircraft, watercraft (and their respective parts and equipment), property of the renter, credit cards, debit cards bank notes, securities, firearms, and precious metals and property relating to any business host engages in other than vacation rentals through StayMarquis

  • These causes of loss are not protected:

    • Wear and tear, mechanical or electrical breakdown, war, terrorism, nuclear reaction, radioactive, contamination, intentional or expected loss, smoking, neglect, criminal acts, government action, seepage and/or pollution and/or contamination, pathogenic, biological or chemical materials and microorganisms (mold)
  • Damage caused by pets

Please review the protection plan document below so you understand the protection that this program provides, as well as the limitations and exclusions

• View Policy Detail
  https://staymarquis.com/pdf/protection-program-summary-staymarquis.pdf

Liability Protection – Liability insurance of up to $1 million to protect against personal injury or property damage claims

• Protection against the unexpected – for free

  • As you share unique local experiences with your guests, it’s best to be prepared for the unexpected. Though negative incidents are extremely rare, the StayMarquis Liability Protection Program provides hosts and guests with added peace of mind
  • The StayMarquis Liability Protection Program provides hosts with primary coverage of up to $1 million in the rare event a third party suffers bodily injury or property damage during an experience

• What’s not covered?

  • Claims that are expected or intended by owner
  • Claims that arise out of an illness, sickness or disease
  • Claims that involved the delivery of professional services
  • Claims that involve an aircraft, motor vehicle or watercraft

• Medical Expenses

  • The StayProtected Program also provides protection with respect to necessary medical expenses as they relate to an incident causing bodily injury to a third party.

    • Examples of this includes:

      • Reasonable first aid charges, medical, surgical, x-ray, dental, ambulance, hospital, professional nursing, prosthetic devices and funeral services

    • This protection feature does not protect:

      • Owner, owner’s employees or anyone on the premises without permission

Your Responsibilities as a Protected Owner

• Give prompt notice of events or circumstances that might lead to a claim, such as a notice, demand, summons or complaint
• Have homeowners insurance
• Provide names and addresses of any claimants and available witnesses
• Cooperate with StayMarquis in the investigation of a loss or claim
• Notify the police in case of loss by theft
• Protect damaged property from sustaining further damage
• Accurately document damages, repairs and expenses with bills, receipts and photographs

Important Notices

• This is a general outline of the terms and conditions of StayProtected Program. It does not include all the terms, coverages, exclusions, limitations, and conditions of the actual program
• The StayProtected Program is designed to respond where underlying Homeowner’s coverage does not, as evidenced by policy exclusions relating to short-term rental activity and declined claims. It is not a replacement to homeowner’s insurance.
• The StayProtected Program does not apply if anyone that is not the registered homeowner and if the owner has not purchased standard homeowners insurance
• Only a licensed insurance broker can analyze your personal situation, discuss your needs and advise you on insurance coverage. For questions on home insurance, we recommend you speak with a licensed professional
• The StayProtected Program is supported by an insurance policy effected with certain Lloyd’s Underwriters through TERN Financial Group Inc, a Lloyd’s Approved Coverholder acting as agent for the Underwriters.

Need to file a claim?

• Please contact us and we’ll advise on next steps.