Travel Insurance
Refund Policies and Trip Cancellation and Interruption
Vacation properties are often booked many months in advance and the property will be held for your use during your trip. When the property is being held for you, it obviously cannot be rented to someone else. Therefore, like cruise, tour packages and airline tickets, when booking/reserving a vacation rental home, you will usually need to make a full or partial payment upfront in order to hold the property.
Normally this is not a problem, BUT if you have to cancel your trip (especially at the last minute), you should know that you may forfeit a portion or all of your rental fees. There are ways to protect yourself however - FIRST: Make sure you know what the cancellation policies are for the property you are renting. SECOND: Consider purchasing Trip Cancellation Insurance for added protection.
If you have to cancel your vacation rental trip, are you eligible for a refund? It depends on the cancellation/refund policy of the property that you are renting and how much notice you are able to give. Usually the more notice that you are able to give, the better chance that the property can be re-rented and the more likely that you will be able to secure a partial or a complete refund. Some properties may allow you to transfer your vacation to another time period. We recommend that you find out about the cancellation/refund policy before you rent and ask for the policy in writing when you reserve the property. For additional protection, we recommend that you purchase Trip Cancellation Insurance. Most people are not aware that this insurance is available for your vacation rental trip but it is available thru companies such as insuremytrip.com or Travelex Insurance
Note: Coverage varies with different insurance companies - please review your policy details and know what is and is not covered for your policy.
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