By Steve Sherlock
Now that vacation rental insurance is widely accessible for all property managers in the short-term rental industry, more vacation rental owners and managers than ever are curious as to what benefit it could provide their business. In short … it provides protection for all parties in the transaction.
Vacation rental guests that purchase insurance enjoy peace of mind knowing that they are covered in case anything out of their control happens before they travel or during their trip.
Vacation rental property managers can benefit whether or not a guest purchases vacation rental insurance. If a guest does purchase vacation rental insurance and later cancels their vacation, then the property manager gets to keep all reservation payments as the guest handles their claim with the insurance company. On the other hand, if the guest doesn’t purchase travel insurance their property manager can still benefit from offering them protection because it gives them a stronger argument against providing a refund.