Evolve Vacation Rental Network Partners with Assurant to Provide $1M Liability Coverage for Short-Term Rental Owners

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Innovative Insurance Program Is Included Benefit for All Evolve Homeowners

“One of the reasons owners work with us is so they can stop worrying about every little detail of vacation rental,” Egan said. “This is one more way we can make things simpler.”

Evolve Vacation Rental Network has partnered with Assurant (NYSE: AIZ), a global provider of risk management solutions, to provide up to $1 million in liability coverage and $3,000 in property damage coverage through a custom program for its homeowners: Property Protection Plus by Evolve.

The Denver-based vacation rental management company currently services over 2,500 properties in 300 markets across North America, and believes strongly that liability coverage is an essential aspect of vacation rental often overlooked by owners and managers alike.

“Most people who rent out their vacation homes don’t have liability coverage -- because most homeowners policies exclude commercial activity,” said Evolve CEO Brian Egan. “They often think they have coverage because they have homeowners or landlord policies that include liability, but those policies can have significant gaps when it comes to short-term rentals.”

Evolve decided it was crucial for its owners to have protection that would cover them for personal liability, and worked with Assurant to create a policy specifically designed for vacation rental owners. Property Protection Plus by Evolve provides owners with up to $3,000 in property damage protection and $1 million in liability coverage for each reservation.

“We’re focused on risk management across the housing spectrum, and this is one more way for Assurant to bring our expertise to an innovative partner,” said Kunal Malhotra, vice president, Innovation, for Global Specialty, a business unit of Assurant. “This coverage is specifically tailored to protect vacation home owners, and conveniently built into the rental transaction.”

In keeping with its mission to make vacation rental easier for everyone, Evolve even assists owners in filing damage and liability claims, if needed.

“One of the reasons owners work with us is so they can stop worrying about every little detail of vacation rental,” Egan said. “This is one more way we can make things simpler.”

In selecting Assurant, Evolve has chosen to partner with an innovator in technology-based risk management; the company also safeguards millions of electronics owners, small package shippers as well as car- and home-sharing customers.

About Evolve Vacation Rental Network

Based in Denver, Evolve Vacation Rental Network is a next-generation vacation rental management company that provides homeowners with more rental income and unrivaled flexibility for a fee of 10 percent per booking—the lowest cost in the industry. The company currently services more than 2,500 vacation rental properties in 300 markets across North America. For more information, visit EvolveVacationRental.com or call 877-818-1014.

About Assurant

Assurant, Inc. (NYSE: AIZ) is a global provider of risk management solutions, protecting where consumers live and the goods they buy. A Fortune 500 company, Assurant focuses on the housing and lifestyle markets, and is among the market leaders in mobile device protection; extended service contracts; vehicle protection; pre-funded funeral insurance; renters insurance; lender-placed homeowners insurance; and mortgage valuation and field services. With approximately $30 billion in assets and $6 billion in annualized revenue as of September 30, 2016, Assurant is located in 16 countries, while its Assurant Foundation works to support and improve communities. Learn more at assurant.com or on Twitter @AssurantNews.


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