Broadway Insurance’s mission is to fulfill the values of quality service, transparency and independence, helping you get the protection you deserve.
Los Angeles, Calif., Aug. 4, 2022 (GLOBE NEWSWIRE) — Homeowners in Los Angeles could benefit from using Airbnb to rent out a portion of their homes, and one local insurance firm, Broadway Insurance Services, launched an initiative to help them.
William Lemon, principal agent and owner of Broadway Insurance Services, works individually with clients to develop the ideal solutions for their rental needs. With years of industry knowledge and experience, he provides the edge of best strategies, policies and practices for those looking to join the rental market.
Lemmon presents customized plans that minimize homeowners’ risk while maximizing their potential additional income by improving their bottom line. “In Los Angeles, the construction of accessory dwelling units, also known as ADUs or junior ADUs, is popular because of the affordability of housing in all respects for renters and for property owners looking for additional income,” says Lemon. “I provide the expertise needed to navigate the often complex world of insurance, which is essential for landlords when renting.”
This highly customizable and personalized approach is exactly what many homeowners in the Los Angeles area are looking for. As the city and its surroundings see a surge in demand for rental properties, whether they are part of a house, a room or a stand-alone property on site, Airbnb has become a source of income for many.
As one of the foremost authorities on Airbnb and home-sharing property insurance, Lemon is an expert in the field who can provide first-hand guidance on how to avoid insurance pitfalls. “We offer a fully customized bill rounding and risk management solution for property owners in the short-term rental industry. Our insurance product line can be modified to fit any landlord rental scenario,” he says.
Home sharing is on the rise, but listing a piece of property on Airbnb is not without its dangers, so insurance is vital. Airbnb provides some coverage to homeowners in the event a renter damages the property, but Lemon says that blanket policy doesn’t account for different levels of risk. “There are only about ten different carriers in California that allow short-term rentals, and I work with all of them,” he adds, making him the ideal insurance point of contact for all owners in the Los Angeles area or beyond who may be are interested in renting part of their homes.
While Airbnb offers insurance called “Aircover,” there are some gaps in the program. Airbnb even states, “This is not a substitute for homeowner’s personal liability insurance, which can cover you at all times. Keep in mind that everyone’s situation is different and you may want even more protections.”
Lemon explains this, stating that “Airbnb’s Aircover is a product designed to protect your home directly against damage from guests only, it is not a substitute for your actual homeowner’s insurance. Without having the right policy in place while hosting guests, you leave yourself open to gaps in coverage for any other outside perils.
Lemon has over a decade of experience in the insurance industry and has lived in Los Angeles since 2007, founding and building Broadway Insurance Services from the ground up. The business currently insures thousands of properties in and around the city, both low and high value housing, with particular use of earthquake insurance – a must in the area.
No matter the value of the property or the scale of the letting, the team ensure that each and every one of their clients receives the same consistently high quality of service. “I have experience decoding unusual risks these clients face at a responsible price point. ,” he says. “I take an individual approach with each client and solve complex problems in an intimate setting. This personal approach helps make each experience unforgettable.”
CONTACT: William Lemmon https://broadwayinsurance.agency [email protected]