Home Insurance For Vacation Homes – We know that not everyone vacations in a hotel or all-inclusive resort. So when you’re vacationing at your favorite spot in that rental property you love, you should be covered for your vacation rental as well.
A furnished house, cottage or apartment is a unique form of accommodation. These rentals can offer a little more space, a little more privacy, and feel more like “home” than a traditional hotel room. However, with these added benefits come additional responsibilities.
Home Insurance For Vacation Homes
While a rental property owner certainly has homeowner’s insurance, this coverage won’t necessarily protect you from the cost of accidental damage to property or furniture while you’re in the apartment. This can include accidents such as broken lights, windows or glass, damaged doors or electronics, soiled bedding, linens, walls or furniture, lost keys or rekeying costs, so you’ll want to make sure your plan includes property damage coverage .
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The National Vacation Rental Protection Plan is the first and only comprehensive plan to include this property damage coverage. This is in addition to the benefits in a typical comprehensive plan, which includes, but is not limited to, coverage such as trip cancellation or interruption, emergency medical coverage, travel delay and baggage loss.
Every vacation is subject to unexpected disruptions or inconveniences. Even if you plan the perfect vacation and don’t experience any missteps yourself, your vacation rental — especially one located in places with unpredictable weather — can still be vulnerable. You want a vacation rental insurance plan that will cover if the destination becomes uninhabitable before or during your trip.
Most comprehensive plans offer some type of coverage for vacation rentals. If a major weather event or other unforeseen problem, such as a fire, damages the rental property so much that you cannot use it, you may be able to get a refund. Many popular vacation rentals are located in hurricane-prone areas. Some comprehensive plans will provide trip cancellation coverage if you have to cancel your trip because of a NOAA hurricane warning for your destination that was issued 24 hours or less before your departure.
If you’re driving to your vacation home, you may need to check a travel insurance plan that has coverage for road closures that prevent you from reaching your destination. If your vacation rental is located on a beautiful secluded island that can only be reached by one road, you may want to consider this coverage.
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This is a highly specialized benefit that not all companies offer. Be sure to review the plans you are considering to find this benefit. Can’t find it in fine print? Call one of our licensed professionals to find the best rental insurance plan for you.
While vacation rental travelers in the United States may not think about adding medical coverage to their list of needs, additional health insurance for transportation closer to home, in the case of long-term care, can add peace of mind to your trip. While coverage details vary by plan and company, you may want to consider a comprehensive plan that includes medical evacuation coverage if your trip takes you 50-100 miles from home.
If you are renting a vacation home outside of the United States, you should consider evacuation health insurance and secondary health insurance. Check with your health insurance provider about their coverage limit at your vacation location. Then find a plan that picks up where your health insurance leaves off so you can stay worry-free while you travel.
Disclaimer: The information in this article is intended as a general overview of benefits and should be used for informational purposes only. See your individual certificate of insurance for specific coverages, exclusions and benefits. If in doubt, please contact one of our authorized agents for further assistance.
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Question: Myrtle Beach, South Carolina family vacation wants to insure hurricane vacation rental – EvelinD 06/27/2023
Answer: For the best hurricane coverage, we recommend looking at the C&F Travel Insured Worldwide Trip Protector or Plus plan, IMG iTravelInsured plans, and AIG Travel Guard plans. Please review the details of your policy confirmation under Trip Cancellation to see the guidelines for these covered reasons and ensure that they are listed as benefits that may be country specific. These policies cover cancellations within 24, 36, or 48 hours (depending on the plan) of your travel departure in the event that “if your destination is under a hurricane warning issued by the NOAA National Hurricane Center, provided that the cancellation of your travel more than 15 days after the effective date of coverage for Trip Cancellation Benefits To view details and see all covered reasons for canceling or interrupting your trip, click on the dollar amount that appears below the word “Trip Cancellation” when you view the offer.
Question: We are planning to rent an apartment in Florida for a month. Some owners claim that there are no refunds in case of cancellation (at any time). Other owners allow you to cancel up to 60 days in advance. We are in our 70’s and we never know if some health problem may arise that would require termination. What kind of coverage do you have in this situation? Thank you – KathiL, 28.5.2020
Answer: You may want to look at comprehensive travel insurance policies that include trip cancellation cover to protect the cost of your trip if you have to cancel it for a covered reason. If you are comparing policies on our website, you can click on the ‘View Confirmation’ link at the top of the quoted plan and this will open the full policy confirmation where you can see all the cancellation and interruption reasons covered. If you have concerns related to COVID-19, such as not wanting to travel for fear of contracting the virus, government/border closures, beach closures, not being able to get to your rental, etc., consider a policy that offers optional Cancel Protection any reason. There are some requirements to qualify for cancellation protection for any reason, such as insuring 100% of the non-refundable travel costs in advance, purchasing cover within 10-21 days of paying the down payment/deposit for the trip and you must cancel the trip at least 2 days before departure. Cancel for any reason can refund a portion, usually up to 50-75% of the cost of your trip, depending on the plan purchased. A policy with the Cancel for Any Reason option selected can cost an additional 40-60% more than a standard policy, is not available in all countries, and eligibility requirements may vary from company to company. For help finding the plan that best fits your needs, you can call our customer service department at 800-487-4722 to speak with a licensed travel insurance agent.
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Question: Hello. My daughter rented a castle for a week in France this summer to celebrate an event. They invited about 25 people. We are looking for cancellation insurance in case this cannot happen or if it has to be postponed specifically due to this coronavirus issue. Do you cover this? – SusanM, 9/3/2020
Answer: We can only suggest that you look at the ‘cancellation for any reason’ option, as it is currently considered a given. There are usually 3 conditions that must be met to purchase a Cancel for Any Reason driver: you purchase the policy within 10-21 days of the first payment for the trip; Provide ALL pre-paid and non-refundable travel expenses before departure; Travel arrangements must be canceled more than 48-72 hours before the departure date. If you meet all 3 conditions, this benefit will normally reimburse you 75% of the cost of your trip, unless otherwise stated. To see the policies that offer this benefit if you qualify, click the “cancel for any reason” filter on the left side of the offer results page. If you are outside this time frame, this benefit will not be available.
Question: We want to fly from Nebraska to Florida and rent a VRBO to Clearwater Beach Florida in June. If our flight to Florida is canceled due to the coronavirus, will our VRBO Prepaid and $5,000 in prepaid flight expenses be covered by travel insurance? – KetiA, 7/3/2020
Answer: Travelers are advised to check with their tour operators to see what they offer in the event that the trip needs to be cancelled. Standard travel insurance policies do not cover the fear of travel. If the fear of travel is your main concern, you’ll want to purchase a comprehensive plan with optional Choose Cancel for Any Reason coverage. There are some eligibility requirements for this cover, such as 100% prepaid non-refundable travel insurance, purchase of cover within 10-21 days of initial travel payment and you must cancel your trip at least 2 days prior to departure. Cancel for any reason can refund a portion, usually up to 50-75% of the cost of your trip, depending on the plan purchased. A policy with cancellation for any reason can cost an additional 40%-60% more than a standard policy, which is not available in all countries,
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