ASI Insurance - A Clarification
In the September 2005 issue of Florida Homes and Travel we noted that American Strategic Insurance (ASI) had made changes to their Short Term Rental homeowner insurance policies. The changes are in the form of exclusions of coverage where property has been empty for 14 - 30 days depending on the nature of claim. Since publishing we have been made aware that ASI have issued a clarification to policy holders that where the property is a genuine short term rental property these exclusions do not apply, even when the property has been empty for a length of time. Recognizing that these properties are usually well managed and looked after by management companies even whilst technically empty, ASI emphasised that the exclusions have been written to help prevent fraud, and identify properties which are empty all bar a peice of gym equipment or a mattress on the floor. We are happy to set the record straight and reassure subscribers and policy holders that these exclusions do not apply to vacation homes.
Posted on 6 September 2005
