Insight
Carriers base coverage on rebuild value, not market value.
This article from BiggerPockets discusses the importance of ensuring your short-term rental property insurance coverage is based on rebuild value, not market value. It explains how underinsuring your property can lead to significant out-of-pocket costs in case of a total loss. Hosts should review their insurance policies annually and report any property upgrades to ensure accurate coverage.
Carriers base coverage on rebuild value, not market value.