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What is Proper Insurance?
Proper Insurance is a Virginia-based property & casualty insurance company that insures vacation rental homes. It was founded to respond to the rising popularity of short-term rentals through services like Airbnb, and the lack of policies designed specifically for this type of use.
Proper’s policies for property owners are underwritten by Lloyd’s of London, one of the world’s largest specialty and reinsurance companies. The insurance policies are available to property owners and property managers in every state, and they can be purchased on the company’s website or over the phone. Although independent agents can also sell these products, the relative newness and specialized nature of the policies may make finding an agent more difficult.
More than a dozen similar sites recommend Proper and it is endorsed by major vacation rental site HomeAway.
What policies are available on the proper insurance?
Proper Insurance writes only short-term rental insurance policies; these policies can replace a homeowner’s or landlord’s policy by providing all of the same coverage as well as protection against the additional risks associated with short-term rentals.
A policy can be adopted for homes that are used as full-time vacation rentals, homes that are sometimes owner-occupied and sometimes rented out, or even homes that are owner-occupied full time but have a portion of the house – from a suite to a single room – that is regularly rented out through an app like Airbnb.
A Proper policy combines coverage from a homeowner’s policy with coverage from a commercial package, along with landlord coverage. Owners of short-term vacation rentals like Airbnb rentals and other types of properties can get coverage from these types of insurance.
Under the policy, the dwelling and all of its contents are covered, essentially as a commercial package policy. In addition, it includes commercial liability and business income when a home is being repaired after a covered claim. Individuals or businesses can be named insured, including LLCs and sole proprietorships.
In addition to the commercial general liability coverage, there is also $1 million in personal and advertising injury coverage available.
In addition to covering swimming pools and hot tubs, the comprehensive liability plan covers things such as animal liability, liquor liability, invasion of privacy suits, and more.
Replacement cost valuation is provided at all levels of risk in the contents section of the policy. That includes everything in the home, from furniture to artwork.
The policy covers all damage or theft by the renter, with no limits on theft. Contents insurance is available in a variety of levels.
Income from a business
It is similar to the loss of rent coverage you would find in a landlord policy. Amounts are paid based on actual revenue loss.
The business income coverage is unlimited, and it is covered against all perils. There is also no expiration date attached to this coverage, so you can recover lost income as long as it takes to make it profitable again.
What is the claim processing process?
Claim payments are made by Lloyd’s of London, the underwriting company. During our visit, we were unable to locate any information about filing a claim on the website, which appeared to be experiencing technical difficulties (we received repeated error messages when attempting to follow links on the page).
We assume a customer can be directed in the right direction to file a claim by calling the toll-free number on the page. An email address is also provided; this is a general information contact, not a claim contact.
What are the company’s rates?
Proper offers online quoting for property insurance, which is unusual for an insurance company of this type. A vacation rental’s size, value, rental cost, and liability risks vary widely, making it impossible to compare quotes.
We tested the quoting system and found it to be relatively simple and straightforward. For a 3-bedroom, 1500 square foot, single-family residence in Los Angeles, we were quoted $1,612.91 a year. This is only comparable to a home of the same size, value, and zip code, but it seems reasonable and not at all outrageous.
There are no competitors to which Proper can be compared, as this policy is very specialized and unusual. Even if a short-term rental endorsement is available, it is important to remember that these rates are not comparable to those on a regular home insurance policy. These policies provide very different coverage. proper insurance reviews
Have ratings and consumer reviews been positive?
Only one complaint has been filed against Proper Insurance with the Better Business Bureau (BBB) in the last three years. Property management reviews can provide you with insight into how the company operates and give you peace of mind.
There are 93% positive reviews on the BBB page. On the company’s Facebook page, there are 12 reviews, all of which are 5-stars. Proper reviews are mixed between actual customers and insurance agents. The reviews cite a great claims experience, helpful staff, and solid coverage.
According to nine Yelp reviews, Proper has an overall rating of 4 stars. It has a couple of negative reviews, mostly about denied claims. An insurance company that responds to reviews appropriately is a positive thing. proper insurance reviews
This company has a very good reputation.
proper insurance reviews – top 10 reviews
“Taylor Stults is the best!She was seriously on the ball to get me the insurance I wanted and needed but wasn’t pushy or in my face.She is exactly what I love to have as an insurance agent. Courteous, fast and making it convenient for me.I would highly recommend her, they don’t come any better than that“
“Mike Wolf was great to work with, informative, responsive and friendly. Answers all my questions and concerns in a timely manner. Lucky for me I have not had to file a claim against the STVR Policy, but thankful to have found them.”
“I just got Proper Insurance for my short term rental. The setup was made so easy thanks to Wyatt Kemp! He has exceptional and excellent customer service skills! Wyatt was so patient and helpful. He streamlined the process for me by helping to fill out all of the required information. He was very informative, attentive, and extremely responsive to all of my questions! I highly recommend working with Wyatt to get your insurance setup. It was absolutely a 5 star ”
“We decided to go through proper insurance to have more coverage on our short term rental. It has been such an easy process and they have been very accommodating. Payton has been swift to reply to any questions I have had before, during set up and continued contact throughout. Such a peace of mind having the extra coverage with a company that is so responsive and helpful.”
Abby Tausch“I searched and shopped all over and everyone told me to price out with Proper. I was amazed at how efficient, patient and honest Alexa was. Got double the specialized coverage for 1/3 of the cost.”
Rhonda Greathouse Haube
“Super helpful team, Payton was great. He took the time to go over the policy options with me and answer my questions.”
Lizz Frost Yocum
“We started our adventure in short term rentals in November and went with Proper Insurance because it was recommended by VRBO. We are really glad we made that decision.No one ever plans to have an insurance claim but when you do, you better have a company like proper behind you. On March 28th of this year we had a tree fall on our house. Not only did a tree fall on our house, it rained the next evening causing water damage at our property.I think it is important to tell the good the bad and the ugly on this claim. I collected all the information that the adjuster firm ask for on the claim and it felt like they were giving me the run around. I would collect what they were asking for and then when I did that they would ask for more information. I had grown extremely frustrated with those folks and it just wasn’t going smoothly at all. I then connect with Ashley and Peter with Proper who I bought the policy through and since they got involved it has been nothing but a first class operation. Peter has on a regular basis checked in with me to make sure that I was getting the communication from the adjuster organization that is expect by Proper. Good communication was all that I was looking for on this claim and resolution of our issues. Peter has been outstanding with his communication and follow up.Also, I don’t know where we would be without a company that provides a policy that covers loss of revenue. We lost our whole summer of bookings and without that we would be an awful place. At first you might wonder why you need to spend a little more on insurance but its worth every penny.Thank you to the Proper team for helping turn what could have been an awful experience into a pleasant experience. No one wants to have a claim but when you do, you better have Proper.”
“I highly recommend Proper Insurance if you have an Airbnb or vacation rental property. The coverage is amazing (for situations I never even thought of!)! The peace of mind I have now has significantly lowered my stress of having a short term rental business. Payton Voss has been so helpful in my quest for completing the underwriting requirements. He worked with me during a particular stressful month and we were covered the entire time while in progress with those items. Give Payton a call now if you don’t have short term rental home insurance. The Airbnb insurance and your regular homeowners insurance does NOT cover you if anything should happen! Don’t wait!”
“I called several companies to get a policy. All required multiple days to offer a solid quote. Several came back and couldn’t meet the limits requirement. Proper Insurance came through like rock stars! Same day quote. Same day binding(so we could meet our closing date) AND at BY FAR the best pricing and coverage anyone offered. More. Than. Happy.”
“My company worked with both Ian and Payton to get insurance set up for our listings. They were very accommodating and communicative during the entire process. Whenever I reached out to get a quote and insurance coverage (even with short notice), they were quick to respond and able to accommodate a quick turnaround to provide me with what I needed. Definitely would recommend it!”
“if you have a short term vacation rental, you know the challenge of fitting your insurance needs to a cookie-cutter policy. it just doesn’t work. I was delighted to discover Proper Insurance, underwritten by Lloyd’s of London. This insurance is unique to the needs of the STVR industry since typical homeowners, traditional renters, or commercial motel-hotel insurance does not fit our needs.Thankfully, I have never had to file a claim with Proper, but once, many years ago, my father’s estate did have to file a claim with Lloyd’s of London and our family was very pleased.Mike Wolf is an outstanding agent who walked me through the sign up and helped me to get everything in place so I could get my property covered. I highly recommend Mike.”
Liz Carson Keith