Rental safety question

[DWBOX2000]

I just bought a townhouse in Charleston (James Island$ SC. I plan on doing 1-3 month rentals so I can use it now and then. Maybe 6 months a year total. Any suggestions on how much insurance is needed for someone falling down the stairs or slipping in a tub?
I plan on adding a railing on the stairs and adding a handle and mats in and outside the shower. Any other suggestions appreciated. My target renters are traveling nurses, people during their home construction and older couples looking for a little change. Hopefully people that have other homes.
Thanks.

[LWJ]

Minimum $1mm. Might consider a $1mm excess policy. You could also have the same excess policy over your home and auto. They are super cheap.

With the above said, there are times it is never enough. All other times it is too much.

[drcoastline]

As much as is available under the policy and secure an umbrella, also as much as you can buy. Liability is an unknown amount so good enough may not be enough.

[Bill Douglas]

Don't let those one in a million bad luck stories kill your dream. It sounds like a great game plan. I'd ask a good insurance broker what he recommends, do it, and keep all the correspondence.

I'm sure it will be fine and you'll have a good time and make plenty of money.

[PorscheGAL]

I think that's a great idea. I love James Island.

Just a little FYI: Most of the travel nurses I know use AirBNB to find their rentals. They usually sign 12-13 week contracts with the hospital but will extend if they are treated well by the hospital.

[MBAtarga]

You need to determine - of your net worth, what are you willing to lose should an accident occur where you are found liable by the courts. The umbrella policy removes that much of the risk.

[jhynesrockmtn]

If you plan to do air bnb or vrbo you may want to check their insurance requirements and/or recommendations as part of your research.