>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay >>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes >>> Click here to download   Nick Libertin shares his experience of his short-term rental property burning down and the challenges he faced with insurance coverage. He emphasizes the importance of having the right insurance coverage and understanding the policy details. Nick also discusses the emotional and financial impact of the incident and offers advice for hosts to protect themselves. Takeaways Ensure you have the right short-term rental insurance coverage with a business protection rider Review your insurance policy to understand the coverage and any caps or limitations Consider additional coverage for loss of business revenue and excavation fees Be prepared for the emotional and financial impact of a property loss Maintain good documentation and evidence in case of a claim Communicate with your mortgage company to discuss payment options during the rebuilding process Before we wrap up today's episode, remember to connect with us on Instagram @getpaidforyourpad for exclusive content and behind-the-scenes moments, and don't forget to hit that 'Subscribe' button on our YouTube channel. We appreciate your support.. Stay tuned, and keep being awesome!    Hosted on Acast. See acast.com/privacy for more information.