The Anatomy of a Short-Term Rental Insurance Policy – 3 Steps to Take When There’s an Incident on Your Property

• Global vacation rental market is expected to topple the hotel industry in 2020 and reach $63 billion by 2024
• Growing market triggered an increase in demand for short-term rental insurance coverage
• As conventional property insurance doesn’t cover all damage, vacation rental owners need to look for specialized protection policies to safeguard their properties and keep their guests safe
• InsuraGuest’s specialized policy covers a wide range of incidents, including accidental damage to rooms, lost or stolen items, medical expenses, death or dismemberment

As the global vacation rental market is growing at a fast pace, the industry is looking for more ways to get effective insurance coverage for both hosts and guests, as traditional homeowners policies do not cover all types of incidents that may happen on a short-term rental property.

The global vacation rental market is projected to reach nearly $63 billion from 2020 to 2024, with a year-over-year growth rate for 2020 estimated at 5.51%. In 2019, vacation rental revenues are expected to reach $57.669 billion, from an estimated 297.17 million total vacation rental users worldwide. The entire vacation rental market is expected to topple the hotel industry by 2020 (http://nnw.fm/9PPg4).

Faced with growing demand, more insurance providers are now offering short-term rental insurance policies aimed at protecting the property owners but not the guests. Companies like InsuraGuest are focused on protecting the guest. More specifically, its insurance covers property damage and theft of goods, as well as liability in case guests suffer accidental injuries that require medical attention while on the property.

While not typically mandatory, short-term rental insurance should be a necessity for both property owners and guests. With this type of insurance, hosts don’t risk incurring significant losses in damaged property and stolen goods, while guests are protected in case of accidentally damaging the property, suffering an injury or having their luggage stolen. The key is choosing the right type of coverage and carefully documenting any kind of incident that occurs on the premises.

As a vacation rental owner, here are three essential steps to take when there is an incident on your property that involves your guests:

Step 1: Collect Statements

To understand what happened, try and get a statement from your guest. Ideally, get a recording on your phone of them clarifying when and where the incident happened. They might admit fault, as in, “I drank too much alcohol and I fell and broke my leg.”

Step 2: Get Witnesses’ Data

If there are witnesses, get their names, phone numbers, and other contact information. Make sure this information is accurate. Sometimes, the injured party and the party that actually rented your space are not the same person. Contact your short-term rental insurance provider as soon as possible. They will ask for all the documentation mentioned and contact the claimant or guest, saving you a lot of trouble.

Step 3: Know Your State’s Statute of Limitations for Injury

A person has a certain period to sue you for damages after sustaining an injury on your property, which depends on the state. In Maine, guests have six years from the date of injury to file a claim. It’s four years in Florida and three years in New York (http://nnw.fm/7mdDX).

Consider a Specialized Guest Protection Policy

Regrettably, it’s not enough to call a limited endorsement to a landlord or homeowner policy short-term rental insurance. Traditional traveler’s insurance doesn’t cover a number of things that can happen inside hotels or other travel properties, putting both the traveler and the property owner at risk. The best way to make sure you’re safe is by purchasing a specialized guest protection policy such as the one offered by InsuraGuest Inc.

The company’s proprietary InsurTech software platform delivers a specialized insurance policy that acts as the first line of defense for the properties and the guests for both vacation rental properties and hotels. It covers each guest from the time of check-in until their departure, and provides coverage for a wide range of incidents, such as accidental damage to rooms, lost or stolen items, medical expenses, death or dismemberment (http://nnw.fm/ur4wQ).

With this specialized insurance product that can easily integrate with most properties’ management systems, InsuraGuest has excellent prospects on the global vacation rental market. The company currently provides coast-to-coast coverage in the U.S. and is in the process of obtaining licenses to sell insurance in every state. InsuraGuest is also working to expand the scope of its products and InsurTech platform to Europe and Asia, two markets that are significantly larger than the U.S. market and will provide the company with access to a combined demographics of 6.5 billion hotel nights stayed worldwide and more than double its vacation rental opportunities.

For more information, visit the company’s website at www.InsuraGuest.com

NOTE TO INVESTORS: The latest news and updates relating to InsuraGuest are available in the company’s newsroom at http://nnw.fm/InsuraGuest

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Jerrick Media Holdings Inc. (JMDA) is “One to Watch”

• Focused on the development of digital communities, targeted marketing of branded digital content, and e-commerce opportunities
• Operating through three strategic divisions to encompass its market strategies and objectives
• 10-year growth plan includes a near-term rebranding strategy with addition of many new revenue streams to greatly increase Jerrick’s potential market value
• Balanced portfolio of revenue streams will ensure institutional stability

Jerrick Media Holdings, Inc. (OTC: JMDA) develops technology-based solutions to solve digital problems. Through the combination of design, thought and data analysis, the company builds products that influence a worldwide audience.

Jerrick’s flagship product is Vocal, a proprietary long-form digital publishing platform that provides storytelling tools and engaged communities for creators to get discovered and fund their creativity.

Vocal

Designed to develop and cost-effectively engage content creators, the Vocal platform enables its over 500,000 registered content creators to reach an engaged audience and monetize their content. In addition to providing relevant content, Vocal’s technology is centered on efficiency and scalability through its niche digital communities, as well as output through its data-driven distribution strategy.

Vocal partners with content creators and brands that recognize difficulties inherent in the digital advertising space and that can benefit from branded content marketing opportunities available on publishing platforms like Vocal.

All content available on Vocal is created within the platform’s custom editor and published on one of Vocal’s embedded genre-specific communities, spanning topics that range from food to wellness, beauty, technology and more.

In May 2019, Jerrick launched Vocal+, its premium subscription membership program. Vocal+ members pay a membership fee for premium value-added features, including receiving increased earnings for their content, reduced platform processing fees for tips received, a Vocal+ badge on their creator page, access to new features on the Vocal Platform, and other rewards. Creators can sign up for free or upgrade to Vocal+, available for purchase on either an annual or monthly subscription basis.

Vocal for Brands

Vocal for Brands is an in-house creative studio that generates actionable data from bespoke native advertising campaigns. Vocal for Brands partners with direct-to-consumer (DTC) to create beautiful, campaign-optimized stories on Vocal that build brand affinity, trust and drive results.

Additionally, Jerrick provides a Managed Services offering to business-to-business (B2B) and business-to-consumer (B2C) product and service brands which encompasses a full range of digital marketing and e-commerce solutions. Managed Services includes the setup and ongoing maintenance of clients’ websites, Amazon and Shopify storefronts and listings, social media pages, search engine marketing, and other various tools and sales channels utilized by e-commerce sellers for sales and growth optimization. In addition to partnering with Managed Services clients, the company offers a range of la carte services.

Growth Strategy

Upon the consummation of its anticipated listing on the Nasdaq Capital Market, Jerrick intends to change its official company name to “Creatd, Inc.,” subject to stockholder approval.

This rebranding will initiate Jerrick’s go-forward growth strategy and its plans to expand its offerings and provide technology products and resources for creators to help transform their ideas into reality. The strategic plan is designed to greatly increase Jerrick’s potential market value via a plethora of new revenue streams.

Creatd will focus on a community of creators that number more than 2.5 billion users, for which it will offer democratized, transparent platforms for distribution, sentiment, resources and monetization. The company’s agile development process will rely on a combination of bleeding-edge technology that eliminates barriers and creates efficiencies. Superior design thinking and data analysis will allow Creatd to expand its digital footprint to a global community.

Creatd will partner with a community of technology collaborators and sophisticated investors who collaborate to provide technology solutions for creators, brands and their respective audiences. The company’s solutions, business processes, technology platforms and design theories will lend themselves to application opportunities on a global scale.

History & Management

Jerrick was founded in 2012. Initially a private media company providing online content through a portfolio of brands, Jerrick’s needs quickly outpaced its initial technology and product offering. In 2015, Jerrick partnered with Thinkmill, a premiere, Australia-based product design and development group to create a content management system (CMS) for its brands; that system evolved into the company’s flagship product, Vocal.

Today, Jerrick’s management team is an impressive group of abstract thinkers united by their passion to solve problems. Leading the team are founder and CEO Jeremy Frommer, and Justin Maury, Jerrick’s president and head of product.

Frommer’s career includes two decades in the financial technology industry, working as a hedge fund and portfolio manager, as well as on the sell-side of the financial industry. Frommer started NextGen Trading, a software development company building proprietary equity trading platforms. NextGen was acquired by Carlin Financial Group of which Frommer became CEO. RBC Capital Markets Corporation eventually bought Carlin. At RBC, Frommer was managing director, head of the Global Prime Services group and a member of the RBC Global Equities Operating Committee.

Maury joined Jerrick in 2013, bringing with him 10 years of experience in the creative industry. Since partnering with Frommer to establish Jerrick, Maury led the company’s product development for more than four years. His passion for the creative arts and technology ultimately yielded the vision for Vocal. During the Jerrick’s early formative years, Maury was a driving force in creating the vision, design and architecture for the Vocal platform and managing the oversight of technology development.

For more information, visit the company’s website at https://Jerrick.media

NOTE TO INVESTORS: The latest news and updates relating to JMDA are available in the company’s newsroom at http://nnw.fm/JMDA

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