Renting out your home for vacation use can be a budget helper for everyone involved.
But insurance requirements vary considerably, depending on the length and frequency of the stays.
Some insurers may allow a short-term rental (a week or several weekends) of your primary home under your homeowners policy. The Insurance Information Institute says some other insurance companies may require additional coverage or a renters insurance policy.
For longer rentals, you'll need a landlord or rental-dwelling policy that can cost 25 percent more than a standard policy. But you'll get more protection against property damage and liability.
Regular rentals -- whether short- or long-term -- won't be covered by your homeowners insurance. You'll have to buy the sort of business policy appropriate for either a hotel or bed-and-breakfast, according to the III.
If you're renting someone else's home for your own summer vacation, talk to your agent about whether your homeowners insurance covers damage or theft there. If you book through an online vacation listing website, it may offer a property damage policy as part of the package.