According to Berkshire Hathaway Travel Protection’s 2022 State of Travel Insurance Report, 73% of Millenials and 34% of people ages 65 and up anticipate taking a vacation rental trip more frequently or much more frequently in 2022 compared to 2021. With such high demand for vacation rentals, what do travelers need to know before they book and do they need travel insurance?
The following is sound advice from Berkshire Hathaway Travel Protection’s (BHTP) experts regarding the most common vacation rental safety and privacy issues:
· Do your detective work - A vacation rental is like any online purchase, so check out reviews and corroborate statements before you book. Map it out to see how close it is to things like a supermarket and restaurants.
· Rent with a credit card - Credit cards often have protections that can remove charges from your account if the product or service you purchased wasn’t as advertised.
· Read the fine print - Think of a vacation rental contract the same way you would a cell phone bill; there are going to be additional fees, and your job is to find out what they are. For example, there are often cleaning surcharges, and the owner may charge extra if you do not follow certain instructions, like what to do with garbage, towels and sheets.
· Check out the safety aspects of your rental - Make sure to do a safety check for slip-and-fall hazards and non-functioning locks before unpacking everything into your vacation rental.
· Know your group - If you are traveling with a group, make sure everyone in your group is onboard with how costs and responsibilities are going to be split.
· Be ready for close quarters - Privacy can be hard to find on a group vacation. Be sure to discuss the sharing of common areas, most notably kitchens and bathrooms.
See more tips on Vacation Rental Safety here.
In this current travel environment with a high frequency of flight delays and cancellations, as well as a very active hurricane season predicted for this year, it is wise to get travel insurance to protect your investment in a trip. BHTP’s ExactCare® is a good fit for travelers renting a vacation home. ExactCare covers anyone, any day, practically anywhere. See ExactCare’s additional coverage, features, and services here.
- Trip Cancellation - Up to 100% of trip cost ($100,000 max per person)
- Trip Interruption - Up to 150% of trip cost ($150,000 max per person)
- Trip Delay - Up to $1,000 ($200/day)
- Missed Connection - Up to $500 (3 hours or more)
- Baggage & Personal Effects - Up to $1,000
- Medical Expense - Up to $25,000 ($500 dental max)
There’s also ExactCare Lite if you plan to drive to your rental, which leaves out coverage for missed connections and lost baggage (saving you money on your insurance plan).