Friday, October 13, 2017

Insurance for Vacation Rental Owners

Insurance is one of those things that we hate to pay for, but are glad that we have it when we need it! If you are going to rent your home or condo at the Lake of the Ozarks to the vacationing public, you definitely want to make sure that you have your property properly insured. Keep reading to learn more about rental property insurance and loss of income coverage.

Rental Property Insurance

One of the first things that I tell new vacation rental owners at the Lake of the Ozarks that are joining our program is to let their insurance agent know that they will be renting out their property to vacationers. If there is a claim situation, that is not the time to let your insurance agent know that you have been renting out your property. You don't want any surprises or coverage denials when it comes times to make a claim.

Some insurance companies offer rental property insurance and some don't. Therefore, it's very important to check with your current company and not just assume that you will be covered if something happens. Also, different companies will have different limits on their policies. You may need to shop around to ensure that you can get the coverage you need. Some agencies won't go above $500,000 in coverage, while others will go up to $2 million.

Loss of Income Coverage 

In addition to letting your agent know that you are renting out your property, you will want to ensure that you are now covered for loss of income. While some homeowner policies would cover you in a rental situation, they may not provide for loss of income. We had this happen to one of our owners this past year when the unit above had a water leak. It took three months for all the repairs to be completed and he lost income in May, June and most of July. He was able to collect insurance money for that loss of income because he had the property policy.

When discussing your rental property with your agent, ask if there are any policy exclusions and exactly what is covered and what is not. Again, you don't want to find out that you are not covered when you need it most.

Finding an Insurance Agent 

If you go with an out of town insurer, make sure they know your market. For instance, they may assume property values are similar, when in reality they could be quite different. Also, if your property is a condo, you may only be responsible for the interior and your association would be responsible for the exterior. In this case, you may only need coverage on what you are responsible for replacing, any upgrades (and contents) and not the entire value (sale price) of your condo.

If you are thinking of renting your vacation property at the Lake of the Ozarks and have questions about insurance, ask an expert! Two great local agents we deal with are Chris Wagner of Farmer's Insurance, who can be reached at 573-302-0001 and Nathan Reid of American Family Insurance, who can be reached at 573-348-5451. Either one of them would be glad to speak with you about your Lake of the Ozarks vacation rental insurance needs.

Russell Burdette is the owner/broker of Your Lake Vacation, a professional vacation rental company at the Lake of the Ozarks since 1986. If you would like more info on renting your Lake of the Ozarks condo or home as a vacation rental, give us a call at 573-365-3367. If you're interested in making a reservation in one of our condos or waterfront homes at the Lake of the Ozarks, contact us at 877-284-0267.

For more information please call us toll free at 1-877-284-0267!!
4571 Osage Beach Pkwy, Suite A
Osage Beach, MO 65065
Local - 573-365-3367
Fax - 573-365-5076  

Friday, October 6, 2017

Cozy Up at Lakehurst Lodge

Lakehurst Lodge 

There's no better place to cozy up when the cool, crisp air creeps in than at Lakehurst Lodge. If you're planning a fall or winter getaway to the Lake of the Ozarks, this is the perfect home to stay in! This comfortable 5 bedroom, 3 bath waterfront home at the Lake of the Ozarks sits nestled along the shoreline, among the trees, and is just waiting for you to come and enjoy!

Prepare a Delicious Meal in the Kitchen   

As you enter the main level of the home, you'll find the lakeside dining room just off the kitchen, with deck access that includes all the amenities of home. Refrigerator, dishwasher, microwave and flat top ceramic range with a built in ventilation system are just a few of the conveniences that will make your stay more comfortable. All you need is to bring your food!

Cozy Up by the Fireplace

The lakeside living room features leather furniture, a fire place, deck access, flat screen TV and wireless internet. There is also a main level bedroom that has a twin bed with trundle, a guest bath and access to the garage. The upper level features 2 bedrooms. The Moose Room features a queen sized bed, while the Ski Room features a king sized bed. The bedrooms share a full sized bathroom as well. 

Get Some Rest in the Master Suite

The lower level features a lakeside family room with fireplace, deck access, comfortable furniture and a wall-mounted flat screen TV. The lakeside master suite features a queen sized bed and full sized bathroom. Also on the lower level is the laundry and utility room with sink and an additional hideaway bedroom with a full sized bed. 

Outdoors you'll enjoy a full sized deck off the main level with seating for 10, and a lower level deck with conversation seating. The covered dock has a 14' x 42' boat slip and 2 jet ski lifts. This home is located on the 18 mile marker of the main channel and by land, in the heart of Osage Beach near all the shopping and dining!

Reserve the Lodge Today! 

Book your reservations at Lakehurst Lodge today by calling Your Lake Vacation at 877-284-0267. We're here for all of your Lake of the Ozarks vacation planning needs. Whether you want to join us for the gorgeous fall foliage, the holiday season or get a jump start on next year's summer vacation, we'll help you find the perfect accommodations at the Lake of the Ozarks.  

For more information please call us toll free at 1-877-284-0267!!
4571 Osage Beach Pkwy, Suite A
Osage Beach, MO 65065
Local - 573-365-3367
Fax - 573-365-5076