Top perks

Complete coverage for short-term rentals

Proper policies pull double duty as homeowners insurance policies and business insurance policies for those who rent out their places to others on a short-term basis. It includes coverage for the building itself, personal property, and liability protection. Plus, unlike traditional homeowners insurance, it has no vacancy clause, so the policy remains in effect even if the home is unoccupied.

Replacement cost coverage on all belongings

Many homeowners insurance policies use actual cash value to replace personal property that’s damaged or stolen. This pays the homeowner the current value for the item, even if that’s less than what they originally paid for it. Proper, on the other hand, uses replacement cost coverage. This pays the homeowner the amount they need to replace their damaged or stolen items with new ones of comparable quality.

Business income coverage

Damage to a short-term rental can cause the owner to lose money due to the inability to rent out the property while it’s being repaired. A Proper policy can help reimburse homeowners for their lost income during this time.

What could be improved

Options for bundling

Currently, Proper only sells policies for short-term rentals. It doesn’t offer traditional homeowners insurance, auto insurance, or any other type of coverage. So it may not be ideal for those looking to bundle their insurance all in one place.