Nitty-Gritties of Vacation Rental Insurance

travel insurance


You have decided to treat yourself to a well deserved two week vacation. Some of your closest buddies are coming along too.  You’ve saved up 3 months for this trip , and you are just about to proceed to make the payment for your vacation rental that makes your bank account cry a little- then there’s a pop-up suggesting you pay X amount for insurance to cover your trip . Are you going to take it ?

As a startup providing next generation travel insurance – you would think that the first thing we do want to do is to convince you with a bunch of compelling  reasons why you should purchase travel insurance. But what we really want to tell you about are some flaws of the system, hurdles when it comes to providing and purchasing vacation rental travel insurance and why, in general, travel insurance tends to get a bad rep and how this can be simplified.


Travel Insurance…? Nah, I think I’ll pass

While some people won’t leave for a trip unless they’re covered, there’s a bigger group who see travel insurance as an unnecessary expense. Effectively more travelers intend to buy travel insurance than actually do. This was evidenced in recent UK research, where fewer than one in three adults said that they had bought travel insurance in the past 12 months, whereas “almost seven in ten adults (68.9%) said that they would not go abroad without travel insurance.” ~Goodman Fox.
Chances are you are on one of  either end of this spectrum. If you are in the latter, the thought of insurance companies, claims, underwriters are all rather incomprehensible, and daunting to you. You want nothing to do with them, because you are only going away for a couple of  weeks anyway. Furthermore you don’t understand their jargon, let alone their policy’s fine print about what’s covered and what’s not covered. The policy booklet you found online is 20 pages long,  with many policy features that are not relevant you your trip. It’s like they are offering you a one size fits all policy but one size doesn’t fit all when it comes to insurance. So you decide to ignore that pop up ad and go on without insurance on your vacation rental.


The Problem

A month or so down the line,  you’ve made additional purchases to your trip – finally booked your flight tickets and a car rental. You are realising you’ve got more money at stake now. Your vacation city is prone to hurricanes, what if one hits and your trip is cancelled ? And will everyone really be alright doing all those extreme water sports you have planned out ? You find yourself thinking about that pop up for travel insurance , and how you’d really rather be safe than sorry. So you go back and try to find out where that ad for travel insurance came from. No luck. So you go on the look up the major insurance companies. Only to find out that they do not sell vacation rental related travel insurance after the final trip payment was made. This, it turns out, is one of the most discouraging hurdles to consumers when it comes to purchasing specialized vacation rental travel insurance.


Most major insurance companies will not let you purchase insurance after you have made your initial reservation. For them, it’s too much of a risk- especially  if people are only purchasing travel insurance after they’ve their reservations in response to a hurricane or natural disaster warning or something of this sort. Which makes sense, from their perspective. But this problem in travel insurance leaves many travelers worried, with some unease and potentially uncovered. They may not even be aware of this problem but it’s this  kind of situation leaves both the traveler and the vacation rental manager in an uncomfortable,  what-if situation.


The Solution

With our mission to rid the world of suffering in terms of travel insurance – we are working on the solution to this problem. It involved having to get licensed to sell insurance in 50 states in the US – a lengthy and and costly process. And as a B2B2C company, our services cater  to businesses all across the vacation rental industry managers, software providers, individual owners, channel managers and more, and effectively offer their clients or guests specialized vacation rental trip insurance via a stand alone insurance website. What makes this insurance different is that  it can be sold all the way from when the original vacation rental payment is made, right up to 24 hours before check in. Thus we are closing the gap and making vacation rental travel insurance more readily available right up till 24 hours before check in.


Were you aware of this problem ? What other hurdles are both providers and consumers of travel facing ? We want to hear your thoughts !


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