![]() One of the biggest areas of risk exposure when operating a short-term rental is liability. “ Have either (1) liability insurance to cover the Short-Term Rental in an amount determined appropriate by the insurance company insuring such Short-Term Rental, but in no case, an amount less than one million dollars ($1,000,000) in the aggregate, or (2) equal or greater insurance coverage is provided for the Short-Term Rental through the Online Lodging Marketplace through which the property is booked” – Section 10-14-5.(B).(1).(a) Within the new vacation rental Airbnb laws, the Town of Paradise Valley has included a liability insurance requirement stated below: Third and subsequent offense within 12 months – $1500.Second offense on the property within 12 months – $1,000.Evidence that the booking guest has acknowledged receipt of the statement of rules and regulations prepared by the Town, and has agreed by that acknowledgment to comply with such rules and regulations.Evidence of compliance with Section 10-14-5(B). ![]()
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