Many travel vendors offer their guests the opportunity to purchase travel insurance, which will cover specified costs in case of a travel mishap or cancellation. You can provide this offer, too!
Although travel insurance does not provide any direct benefit to you, it still can be helpful. For example, if a guest goes down with the flu the day before they're supposed to fly out to stay at your place and can't come, they probably aren't technically entitled to any refund by you - but they'll still be angry, and you might feel bad.
If they have travel insurance, though, they "don't care" - you keep the money they paid you for the booking, and the insurance company pays them back (provided it's for a covered reason). So, with travel insurance everybody can be better off.
Note that travel insurance is a contract between the guest and the insurance company - you're just providing them the ability to buy it as a convenience. You aren't involved in making, receiving, or approving any claims, and the travel insurance won't be sending you any money in the event of a claim.
OwnerRez users should note a couple of key points about travel insurance.
- Travel insurance is automatically offered to guests that book direct through OwnerRez hosted websites as part of the booking process.
- Travel insurance is not automatically offered to API-connected channel listing bookings, such as any bookings through Vrbo, Airbnb, etc., but users can still Offer Travel Insurance to Guests After Booking.
- Travel insurance coverage may be purchased at the following times:
- At time of initial booking
- At any time WHEN 30 days or more from check in date.
- At time of booking, or within +5 days of booking WHEN the check in date is less than 30 days from booking.
- Cancel For Any Reason (CFAR) travel protection cannot be purchased less than 30 days prior to check in date.
- Other eligibility rules apply such as place of residence and destination. If the traveler resides in an ineligible location or is traveling to an ineligible destination, no purchase will be allowed.
- Offering Travel Insurance
- Purchasing Travel Insurance
- Travel Insurance Types
- Insurance Policy Details
You can configure travel insurance for each of your properties in OwnerRez: for each property, you can specify if you want to offer it or not.
Set the option that you want for that property and then click the Save button. The options are as follows:
- Disabled - travel insurance will be turned off completely, and nothing is ever shown or offered to the guest
Enabled - an option to buy travel insurance will be shown on the quote. It won't be selected, but the guest can select it if they choose.
Travel insurance is always paid separately by the guest. Even if the guest selects it during the quote acceptance process, it will not be paid for via your merchant account. The guest's billing info is passed securely to the travel insurance carrier for processing; they charge the guest's card and collect the money themselves.
There is nothing you need to do, as an OwnerRez user, to fulfill or take care of the travel insurance process. After the guest has selected and paid for travel insurance, they are sent policy information from the insurance carrier and OwnerRez with everything they need.
If the covered guest(s) need to make a claim, that is handled by the insurance carrier directly. Any reimbursement for trip cancellation or any other covered losses are sent to the guest by the insurance carrier.
You are not the insurance agent of record, and have no legal responsibility or liability for anything to do with travel insurance claims. If the guest contacts you about a claim, simply refer them to the contact information on their policy, or if necessary, reach out to OwnerRez to assist.
If you have Enabled the travel insurance option, direct-booked guests will have it presented to them as part of the booking checkout process.
Guests who booked via a channel will also have the option presented to them as part of the process of signing your Rental Agreement, which we recommend that you have them do as described here.
Last, you can also go to the Insurance tab of the Booking and send them a link they can use to purchase it, if they're still eligible.
OwnerRez offers the ability to purchase two different types of travel insurance:
- Traditional travel insurance. This program responds to risks incidental to planned travel and includes reimbursement for the cost of the booking if a covered event occurs that forces the guest to cancel the trip; additionally, proportional reimbursement can be made for covered events causing the trip to be delayed or interrupted. Covered events include things like
• being hospitalized,
• death of a close family member,
• unforeseen hurricane or an mandatory evacuation.
See the sample certificate for details. OwnerRez platform enabled travel insurance offers are available to residents of all US states and all Canadian provinces except Quebec. See policy for details.
- Cancel For Any Reason (CFAR) Protection. This is what it sounds like - the CFAR benefit pays out if the guest cancels the trip for any reason at all, even one that isn't listed as a covered reason in the policy. The catch is that it only pays out 60% of the costs if you don't have a covered reason. At the moment, CFAR can be purchased only by residents of the United States and Canada. CFAR is not available to residents of New York, Washington, and Quebec. The CFAR benefit must be claimed at least 48 hours prior to scheduled trip departure date (check in). See CFAR policy for details.
The guest is given the option to choose (opt in) which type they wish to purchase, or to refuse the protection.
- Overview of insurance program
- Covered reasons
- Schedule of benefits
- Sample certificate of coverage for traditional insurance (policy details)
- Sample certificate of coverage for CFAR insurance (policy details)
Travel Insurance and CFAR protection Products for US residents are offered by InsureStays (dba of Sandhills Insurance Group), via the RentalGuardian.com software distribution platform.
RentalGuardian is a unique online software service provider, specializing in the needs of property managers, with state-of-the-art features including fully integrated, scalable API; multi-underwriter support tools; unique online claim wizard for simplified claims administration; and superior document delivery and administrative functionality.
RentalGuardian.com as an online service/support distribution platform is not a licensed insurance agency, nor does it represent or sell insurance. This presentation is not intended to be an offer to solicit or sell RentalGuardian.com Recommended Platform Provider insurance programs in any jurisdiction where a RentalGuardian.com Recommended Platform Provider or their Underwriter(s) are not authorized or where such action would be unlawful.
Travel Protection Products offered by InsureStays and its authorized travel retailers for US residents are Underwritten by Nationwide Mutual Insurance Companies and Affiliated Companies, Columbus, OH.
Play Travel Protection is underwritten by Nationwide Mutual Insurance Companies and Affiliated Companies, Columbus, OH. Play Travel Protection is distributed exclusively through the InsureStays network of agents, agencies, and authorized travel retailers. See www.InsureStays.com.
InsureStays is a dba of Sandhills Insurance Group, LLC, a limited liability company organized under the laws of South Carolina, a licensed insurance producer in all states (NPN 16269113, California License No. 0M14453, TX License No. 2194106 and 2205876); dba in California InsureStays Insurance Agency; dba in Florida InsureStays Agency. This retailer is an authorized travel retailer and referral provider of Sandhills Insurance Group LLC, dba in California InsureStays Insurance Agency and dba in various states InsureStays and InsureStays Agency; mailing address is PO Box 4443, Pawleys Island, SC 29585. Phone is (843) 286-5144. Visit www.insurestays.com for more information.
Play Travel Canada travel protection is underwritten by Northbridge General Insurance Corporation, PO Box 337 Station A, WIndsor, Ontario N9A 6K7 and offered by CanAm Special Risk Insurance Agency (2018) Limited PO Box 62, Station A Windsor, Ontario N9A 6J5.
Only licensed insurance agents are qualified to evaluate the adequacy of your coverage or provide detailed explanation of coverage provisions, terms and conditions.