Travel Insurance for Vacation Rentals

A family booked a rental cottage last summer,important, or not considered at all, to buy
arrived safely and just loved the cottage.insurance to cover a trip taken by road to a self
However, on the second day of their two weekcatering property in the same province or the
stay, the mom got a call to say her father wassame country.
seriously ill and not expected to live. The familyThink again! Most cottage bookings are made
packed up and returned home, and sadly, her dadseveral months in advance and many things could
died a few days later. After the funeral, thehappen after you have booked to change your
renter called the cottage owner and asked whatcircumstances. Illnesses of any member of the
sort of refund she could expect as they had onlytraveling party, redundancy or a call to jury
used 2 days of their 14 day booking. The ownerservice are just a few of the situations that
refused to pay any refund with the explanationwould be covered by a travel insurance policy. A
that she relied on the cottage rental income tofew insurance companies also offer a 'change of
pay the costs of her cottage and it was alwaysmind' clause, allowing you to cancel for any reason
fully booked through the season. She was notafter a booking has been made and paid in full.
able to find a replacement rental party at the lastThis normally pays out an amount sufficient to
minute and as the rental agreement stated; ifcover any cancellation fee the rental agency or
that was the case no money would be returned.owner may apply.
Of course the rental group did not have travelWhen you book your vacation rental property,
insurance, which would probably have covered tripcheck the property owners or agencies
curtailment due to the illness and/or death of acancellation policies carefully. If it is not clear, ask
close relative. The rental cost the family overthe question. In general, most private owners and
$4000 and they were not able to recover arental agencies will attempt to rebook a property
penny of that money.if it is cancelled, and refund your money for the
Many people believe that trip insurance is onlyperiod they have rebooked, less a cancellation fee.
necessary if there is a flight involved; whereThe premium paid for trip insurance becomes less
delay, lost baggage, and the risk of the airlinesignificant, the more you are paying, however it is
going bust, is covered; and medical cover isworthwhile at any price, for your peace of mind.
required in a foreign country. It's not considered