Travel insurance for holiday rentals

The family booked a rental house last summer, arrived safely and just adored the villa. However, on the second day of their two-week stay, the mother received a call to say that her father was seriously ill and was not expected to live. The family reunited and returned home, but unfortunately her father died a few days later. After the funeral, the tenant called the owner of the villa and asked what kind of refund he could expect, as they had only used 2 days of their 14-day reservation. The owner refused to pay a refund, explaining that he relied on the income from renting a house to pay for his villa and that it had always been fully booked during the season. She was unable to find a rental replacement party at the last minute and as stated in the rental agreement; if that were the case, no money would be returned. Of course, the rental group did not have travel insurance that was likely to cover travel restrictions due to illness and / or death of a close relative. The rent cost the family more than $ 4,000, and they were unable to repay a penny of that money.

Many people believe that travel insurance is only necessary if there is a flight; when delays, lost luggage and the risk of the airline bursting are covered; and medical coverage is required in a foreign country. The purchase of travel insurance taken on the road to a self-catering property in the same province or in the same country is not considered important or considered at all.

Think again! Most home reservations are made a few months in advance and many things can happen after you have booked to change your circumstances. Illnesses of each member of the traveling country, redundancy or a summons to serve as jurors are just a few of the situations that would be covered by a travel policy. Several insurance companies also offer a “change of mind” clause that allows you to cancel for some reason once the reservation has been made and paid for in full. This usually pays an amount sufficient to cover a cancellation fee that can be applied by the rental agency or the landlord.

When booking a rental property for a vacation, carefully check the cancellation policy of the owners or agencies. If it is not clear, ask the question. In principle, most private owners and rental agencies will try to book a property if it is canceled, and will refund your money for the period they have re-registered, free of charge.

The premium paid for travel insurance becomes less significant the more you pay, but it’s worth it at all costs, for your peace of mind.