Are you planning to rent out your vacation home? Or are you looking to book a vacation rental for your next trip? Vacation Rental By Owner (VRBO) is the perfect platform for you. It offers a wide range of vacation rentals in various locations with different amenities to suit your preferences. But before you book or rent out a property, it is important to understand VRBO’s insurance policy to ensure that you are protected in case of any unforeseen incidents.
What is VRBO Insurance?
VRBO offers an insurance policy called the VRBO Property Damage Protection. This policy protects homeowners from property damages caused by guests during their stay. It covers accidental damages up to a certain limit, depending on the property’s value. The policy also covers damage caused by guests to the VRBO website during the booking process.
The VRBO insurance policy does not cover personal liability, trip cancellations, or loss of personal belongings. For these incidents, it is recommended to have separate insurance policies.
How does VRBO Property Damage Protection work?
When you book a vacation rental through VRBO, you have the option to purchase the VRBO Property Damage Protection policy. The policy is valid for the duration of your stay and covers accidental damages caused by you or your guests. In case of any damages during your stay, you should inform the homeowner or property manager immediately, and they will initiate the claim process with VRBO.
The policy covers damages up to a certain limit, depending on the property’s value. The limit can range from $1,000 to $5,000. If the damages exceed the limit, the guest will be responsible for paying the remaining amount. The policy also has a deductible fee, which is typically lower than the cost of the damages.
What are the Benefits of VRBO Insurance?
The VRBO Property Damage Protection policy offers several benefits to homeowners and guests. Some of the benefits include:
| Benefits of VRBO Insurance |
| Covers accidental damages caused by guests |
| Protects the homeowner’s property |
| Offers peace of mind to the homeowner and guest |
FAQ
1. Do I need VRBO insurance if I have homeowner’s insurance?
Yes, you still need VRBO insurance even if you have homeowner’s insurance. Most homeowner’s insurance policies do not cover damages caused by guests renting out the property. Furthermore, homeowner’s insurance does not protect guests in case of accidental damage during their stay.
2. How much does VRBO insurance cost?
The cost of VRBO insurance varies depending on the property’s value and the duration of the stay. The policy fee ranges from $59 to $119 per stay.
3. What damages does VRBO insurance cover?
VRBO insurance covers accidental damages caused by guests during their stay. This includes damages to the property and damages caused by guests to the VRBO website during the booking process.
4. What damages are not covered by VRBO insurance?
VRBO insurance does not cover personal liability, trip cancellations, or loss of personal belongings. For these incidents, it is recommended to have separate insurance policies.
5. How do I file a claim with VRBO insurance?
If there are damages during your stay, you should inform the homeowner or property manager immediately. They will initiate the claim process with VRBO. You should provide all necessary information and evidence to support your claim.
Conclusion
VRBO insurance is an important policy to consider when booking or renting out a vacation rental. It offers protection against accidental damages caused by guests during their stay. However, it is important to note that the policy does not cover personal liability, trip cancellations, or loss of personal belongings. It is recommended to have separate insurance policies for these incidents. By understanding VRBO’s insurance policy, you can ensure that you have an enjoyable vacation rental experience.
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