Holmes Murphy and Property Protect Partner to Offer New Insurance Solution
WAUKEE, Iowa, May 17, 2018
Property Protect, the cutting-edge, automated insurance program for short term rental properties, announces an exclusive partnership with Holmes Murphy, an independent insurance brokerage that specializes in property casualty products. Property Protect recently launched in all 50 states to offer rental owners who advertise on Airbnb, VRBO and other vacation rental platforms coverage from potential property damages caused by short term rental guests.
“I started Property Protect after a bad experience with short-term renters and discovered I really wasn’t covered when I thought I was. There’s a real need for property owners and hosts like myself,” commented Kate Yanov, founder of Property Protect. “Partnering with Holmes Murphy has allowed my vision to come to fruition. As the short-term rental industry continues to grow in popularity, property owners will turn to companies like Property Protect to ensure they’re covered, especially as we near the summer travel season.”
Yanov designed policy enrollment be extremely user friendly and developed an easy three-step process for property owners to gain coverage digitally. First, hosts create a login profile. Next, hosts paste their bookings calendar URL into the Property Protect platform, so they can create policies for each new guest based on the length of their stay (new bookings are added automatically). Finally, hosts enter their preferred payment details; click done and voila! All future bookings are queued up to be insured. Users can register in less than 5 minutes. Transactions are charged the day the guest checks in. If a guest cancels or changes the length of stay, the platform will recognize the change and adjust accordingly. Users won’t pay for any nights that don’t have bookings.
“I am excited to launch this project with Property Protect,” said Reed McManigal, Account Executive at Holmes Murphy. “This is an innovative and thoughtful insurance solution that will provide hosts nationwide with coverage when the unpredictable happens. Our product also offers a low deductible, giving property owners financial comfort when renting out their properties.”
At just $4 a night, Property Protect offers owners and managers an affordable insurance option, and priceless peace of mind. Liability coverage is up to $10,000 in guest damage to personal property and the home, including the roof, walls, windows, and flooring.
“This partnership really demonstrates Holmes Murphy’s commitment to innovation,” said Nick Henderson, Vice President at Holmes Murphy. “Property Protect fills an increasing need by offering home sharers in the short-term rental industry automated guest policies. By partnering with Holmes Murphy, Property Protect is able to provide quality coverage at a competitive rate.”