Press Releases

Take Precautions When Renting a Vacation Home

by John Stone | Jul 28, 2011

The travel industry sees explosive growth in the vacation rental market. Radius Global Market Research cites $85 billion in 2010 revenues, and Vacation Home Rentals reports 13.1% market growth in 2011. Travel Insured International® advises renters to insure home stays just as they would a tour or cruise.

Quote startObtain the written terms...Remember that all trip insurance claims require documentation to be correctly resolved.Quote end

 

East Hartford, CT (PRWEB) July 29, 2011

Travel industry research has revealed a sharp rise in the vacation home rental market. The company Vacation Home Rentals recently projected a 13.1 percent increase in its 2011 rental business, and the 2010 Radius Global Market Research survey revealed an $85-billion market in U.S. and European vacation rentals.

Travel Insured International®, the leading independently-owned provider of travel coverage, warns that risks necessitating trip insurance do not decrease with a vacation home rental compared to other types of trips such as cruises, resort hotel stays, or guided tours. Travel accidents and illness, weather-related travel or destination disruptions, and natural disasters are all still part of the vacation risk potential when the vacation destination is a rental home. And with most vacation rentals requiring full prepayments prior to arrival, including taxes, security and cleaning fees, the loss of a complete vacation's cost is very possible if not covered by travel insurance.

Tips for Vacation Home Renters

Travel Insured International® offers vacation home renters these tips to protect them from problems that can spoil their vacation:

  • Strongly consider using a travel industry professional experienced in vacation home rentals who can recommend and book the properties you are looking for.
  • Make sure your rental home owner or a rental manager is nearby to attend to any problems. Talk to them before deciding to rent.
  • Ask your travel professional if the rental price is negotiable, especially if you can stay longer. Sometimes an owner who wants to fill a rental calendar week will be flexible on price, or offer last-minute specials.
  • Ask about towels, bed linens, cleaning and cooking utensils, and other necessities in the house.
  • Remember the difference between "waterfront" and "water view," which is often a partial side view.
  • Confirm the home contains the exact items you want: DVD, stereo, BBQ grill, WiFi or other priorities.
  • Use MapQuest or other mapping devices to pinpoint the exact rental location. Learn the public transportation available or private transportation required and plan ahead accordingly.
  • Pay only with a credit card. Obtain the written terms and conditions of rental, including security deposit, cleaning fees, taxes, etc., along with booking confirmations and payment receipts. Remember that all trip insurance claims require documentation to be correctly resolved!
  • Always inspect a home thoroughly upon arrival to immediately report any existing damage, stains etc. that might otherwise be made your responsibility. Make sure entertainment units work properly.

Vacation Rentals Need Travel Insurance

Travel Insured International® warns vacation renters that their prepaid trip investment is vulnerable to the same potential trip cancellation or delay risks with a home rental as with a cruise, tour or hotel resort stay. Trip Cancellation coverage in a comprehensive policy, such as a Worldwide Trip Protector from Travel Insured, can provide protection against an unforeseen accident or illness before or during travel, or against an airline or other common carrier delay due to weather.
Whether they are seeking a home away from home, more living space for their vacationing family or friends, more affordable travel costs or other advantages, travelers are embracing vacation rental homes in greater numbers as an alternative to hotel rooms, organized tours or ship cruises. The comforts of a rental home, however, do not mean the elimination of vacation risks, and Travel Insured International® urges vacation home renters to take the necessary precautions to relax and enjoy their vacation stay.

This website contains highlights of the plans, which include travel insurance coverages underwritten by United States Fire Insurance Company under form series T210 et. al., TP-401 et. al., and T7000 et. al. The Crum & Forster group of companies is rated A (Excellent) by AM Best 2020. C&F and Crum & Forster are registered trademarks of United States Fire Insurance Company. The plans also contain non insurance Travel Assistance Services provided by C&F Services through Active Claims Management (2018) Inc., operating as Active Care Management. Coverages may vary and not all coverage is available in all jurisdictions. Insurance coverages are subject to the terms, limitations and exclusions in the plan, including an exclusion for pre-existing conditions. In most states, your travel retailer is not a licensed insurance producer/agent, and is not qualified or authorized to answer technical questions about the terms, benefits, exclusions, and conditions of the insurance offered or to evaluate the adequacy of your existing insurance coverage. Your travel retailer may provide general information about the plans offered, including a description of the coverage and price. The purchase of travel insurance is not required in order to purchase any other product or service from your travel retailer. Your travel retailer maybe compensated for the purchase of a plan. CA DOI toll free number: 800-927-4357. MD Insurance Administration: 800-492-6116 or 410-468-2340. The cost of your plan is for the entire plan, which consists of both insurance and non-insurance components. Individuals looking to obtain additional information regarding the features and pricing of each travel plan component, please contact Travel Insured: P.O. Box 6503, Glastonbury, CT 06033; 855-752-8303; customercare@travelinsured.com; California license #0I13223.