Disclaimer: This FAQ is not an insurance contract nor an endorsement or amendment to an any contract of insurance.
- What is the OwnerRez Enhanced Rental Damage Protection Program (ERDP)?
- What are the limits of protection?
- What is the cost of the ERDP program to the Ownerrez Account Holder?
- What is the deductible for the OwnerRez ERDP program?
- What are some important limitations and exclusions?
- Will I still be covered in the case that a guest checks in and then cancels or checks out early?
- What is the loss of income limit for bed bugs?
- What kind of proof of bed bugs would the ERDP program require?
- How does the Bed Bug Protection Work?
- What is covered by the Bed Bug protection?
- What’s not covered by the Bed Bug protection?
- Are bedding and linens covered under ERDP Program?
- Is the OwnerRez ERDP program a Homeowners policy?
- Are non-occupied days protected?
- Am I selling insurance when I include OwnerRez ERDP program with the bookings?
- Do I have to include all of my properties in the program?
- Can I exclude some types of bookings such as Third-Party OTA (Vrbo/Airbnb/HomeAway) bookings from the ERDP program?
- Are there any states ineligible for the program?
- Will the program respond if my primary insurance does not?
- Can I bind or make effective the program protection by phone?
- Is damage that already existed prior to the effective date protected?
- What are my duties as an owner participating in the OwerRez ERDP program?
- What happens if I discover physical damage to my rental unit?
- What should I do if I receive legal notice of potential liabilities arising out of an OwnerRez rental?
- IMPORTANT NOTICES
The OwnerRez ERDP program provides supplemental protection against guest-caused damages, host liabilities arising from vacation rental activities, and bed bug infestation.
The program responds to damage to your owned / managed property at the rented premises caused by rental guests during a protected occupancy, subject to the program limits.
The program also responds to liabilities arising from rental activities for OwnerRez-contracted rentals of your unit for bodily injury, certain medical payments, and damages to adjacent property and adjacent property belonging to tenants.
In addition, the program responds to bed bug infestation and will pay for certain remediation expenses including replacement of ruined furnishings, extermination and rehabilitation of the unit, lost revenue during the extermination period, and alternative stay accommodations for rental guests impacted by the infestation. The bed bug section does not respond to disease including associated behavioral health maladies.
The limits are as follows:
- Contents Limits:
LEVEL Bronze Silver Gold Platinum LIMIT $500 $1,500 $3,000 $5,000
- Homeowner (Vacation Rental Owner) Liability for all levels Bronze, Silver, Gold, Platinum:
- Bed Bug Infestation for all levels Bronze, Silver, Gold, Platinum:
- $5,000 for 1-bedroom unit,
- $10,000 for 2-bedroom unit,
- $15,000 for 3 + bedroom unit.
- Limit 1 Bed Bug claim per unit per year.
|PROGRAM COST (per booking, per 30 days)||$23.00||$37.00||$55.00||$79.00|
There is no deductible for contents; however the minimum contents claim amount is $25.
The owner-liability section deductible is $5,000.
The Bed Bug section deductible is $100.
The program is occupancy-based and only provides protection while the unit is rented under an OwnerRez contract. Non-contracted stays (for which no consideration is offered in exchange for signing our standard rental agreement) are expressly excluded from the program. The Program does not protect stays at the Home by the Owner, Owner family members, or any other Owner invitees or employees, or for any damage or injury that occurs outside the rental period for an Ownerrez-booked stay at the Home.
The program does not respond to intentional acts of the owner or non-contracted guests. Damage will be verified timely upon guest check-out. As such, damages reported by the owner after unit inspection may not be protected, depending on the timing, circumstances, and causes of the incident.
The program specifically excludes disease including any associated behavioral health maladies such as mental distress, anguish, anxiety, trauma, nervous breakdown, etc. The program for example will not respond to any suit brought against you or us with respect to anyone contracting COVID-19.
The protection applies to the covered booking while the unit is occupied. If the guest checks out early, the protection no longer applies after the guest leaves the premises of the protected unit.
The program provides limited lost income for up to 72 hours while the unit is being rehabilitated from the infestation.
Proof of bed bug infestation would consist of an invoice from the exterminator indicating the cost of treatment and the length of time the extermination process took. Other specific items may be requested by the program claims adjudicator at the time of the submission of bed bug related damages.
Whenever bed bugs (cimex lectularius) are discovered, the program will respond to the "residence premises" being uninhabitable for the period of the bed bug infestation remediation.
- Extermination of bed bugs by a professional exterminator
- Replacement of ruined soft furnishings
- Alternative hotel accommodations, i.e. moving the affected guest party to a hotel. (There is NO reimbursement for moving a guest to another short term rental home.)
- Loss of rental income after a 72 hour waiting period. This means that if the unit is still not habitable due to bed bug remediation at time of next check-in, and you have to cancel the next booking, the program will reimburse you for the lost revenue. Just provide a copy of the cancelled signed lease agreement along with the other proof of infestation and remediation expense.
- Other vermin or insect infestations.
- Refunding the affected guest. (The program only provides for reimbursement for HOTEL-relocation expense). You may of course refund the affected guest, but the bed protection will not reimburse for this or any other contractual guarantee related to bed bugs which you make to a guest, whether verbal or in writing.
- Replacement of appliances.
- Replacement of sheets, towels, and pillow cases. These are excluded because linens are not covered at all by any section of the program. (However, pillows, mattresses and box springs, along with wicker head boards can be reimbursed.)
No, beddings and linens are generally excluded; the program is not a maintenance program. The only exception would be for bed bug infestation where bedding, mattresses, and furnishings are ruined due to the infestation.
No, the OwnerRez program is not a Homeowners policy, nor is it intended to replace Homeowners Insurance, Condo Insurance, or Commercial Property Insurance for the rented property. Property owners should contact a local, licensed insurance agent(s) to discuss specific primary insurance needs.
The OwnerRez ERDP program responds to occurrences during an occupancy period for which there is a signed lease agreement between the guest and OwnerRez account holder. The Program does not protect stays at the Home by Owner, Owner family members, or any other Owner invitees or employee. Non-occupied days are not protected. Likewise, occupancies for which there is no lease agreement or paid booking are excluded from protection.
No, the owner participating in the program is accessing program benefits as a contracted owner. Unless insurance-licensed, neither OwnerRez nor OwnerRez program participants may act as licensed agents and are not qualified to represent insurance products.
Can I exclude some types of bookings such as Third-Party OTA (Vrbo/Airbnb/HomeAway) bookings from the ERDP program?
You cannot pick-and-choose specific bookings, but, you can exclude bookings that came from specific channels that provide their own coverage, as discussed here.
As of February 1, 2022, there are no states ineligible for participation.
Yes, the program responds per the above listed sections, parameters and limits. Where there is an overlap of protection, such as for example a rental-related liability claim, your primary insurance policy would pay first and the OwnerRez program would respond for any remainder up to the program limits. Where there is no overlap, such as first dollar Contents or Bed Bug protection (features typically not available with homeowners insurance policies), the OwnerRez ERDP program will respond per the program parameters and limits.
No, the Damage Protection program is activated and configured online in your OwnerRez control panel.
No, damage(s) that already existed prior to a covered booking is excluded. The program only covers damage that occurs during the scheduled and paid duration of a covered booking. Any attempt to make an ERDP claim for known damages that already existed or for liability incidents that occurred outside of a covered booking constitutes fraud.
As a participating owner, with respect to the program, your duties include the following:
- Give prompt notice of events or circumstances that might lead to a liability claim, such as a notice, demand, summons or complaint;
- Provide names and addresses of any claimants and available witnesses;
- Cooperate with us or program representatives, adjusters and agents in the investigation of a loss or claim;
- Notify the police in case of loss by theft;
- Protect damaged property from sustaining further damage.
Owners may report physical damages which he/she/they discover; however, owner-identified damages not discovered within forty-eight (48) hours of check-out may be excluded. Program participants have two weeks (14 days) from check-out to complete a contents or bed bug submission which includes an explanation of the damage(s)/what happened, pictures of the damage, and a receipt or estimate. Damage that occurred during a non-contracted, non-occupied time period will not be approved for reimbursement. Ultimately, the underwriter will investigate the incident and make a judgement based on the specific circumstances, timing, and losses associated with the incident.
What should I do if I receive legal notice of potential liabilities arising out of an OwnerRez rental?
- Inform your OwnerRez representative in writing about the notice, via the Helpdesk.
- Inform your primary insurance provider (your agent or insurer carrying your primary homeowners, condo, or commercial property policy) of the incident.
- If you have not already filed a Damage Protection claim, do so. Provide the notice to your claims representative.
- Only a licensed insurance broker can analyze your personal situation, discuss your insurance needs and advise you on insurance coverage. For questions on primary insurance, please consult a licensed insurance professional.
- The OwnerRez Enhanced Rental Damage Protection Program (ERDP) is supported by an insurance policy issued to OwnerRez, effected with certain Lloyd’s Underwriters through TERN Financial Group Inc , a Lloyd’s Approved Coverholder acting as agent for the Underwriters.