Travel Insurance for Renters??? Rip Off??

[Mango]

Thank all you owners for your responses to my original comments. I better understand your problems with us "Renters" and your respective Management Companies.
The OWNER of the property I have rented in October for 2 weeks intervened on my behalf and will provide the "Travel Insurance" at no charge to me. Mixed emotions about that:
1. A Renter should not have a problem forfeiting a "Reasonable" deposit on a property when he cancels for whatever reason and cannot reschedule. The original reservation has probably eliminated the owners' ability to rent to another client for the same time period. It ain't a hotel room. If Johnny gets a sore throat, bring him anyway, the Gulf Water will heal him quicker that a doctor.
2. The Owner was not even aware of "Travel Insurance" or the Management Company's policy until I mentioned it.
3. The Renter has supposedly done his homework and selected a property which meets his needs for a vacation. He has submitted a hefty deposit toward that rental, and assumed that the property will be available for his vacation. My Rental Agreement from the Management Company specifically states that it "WILL MAKE NO REFUNDS OF A DEPOSIT" even if the property is not even there due to a hurricane.
4. That ain't right. Please change it.

You OWNERS, why not make it simple for your renters?

1. Renters get their deposit back if a property is not available for any reason.
2. Inform your Management Company of that policy with your property.
3. Cut the "Travel Insurance" business out of your life. It does not seem to benefit anybody but the Travel Insurance business.
4. Enforce your "No Cancellation by Renter" policy as you see fit.

Still love that beach

Not sure if I am understanding you correctly but your post sounds somewhat sarcastic. For starters, most owners do not call people who rent "RENTORS" , but call them Guests, and treat them like such.

I do not understand your mixed emotions about forfeiting deposits if you can't come? Do you expect the airline and hotels to give you back your money if there is a medical emergency prohibiting you to travel.? They sell travel insurance for that don't they?

As far as the property not being available for your usage due to fire or storm damage, isn't this covered by the insurance?

Seems the owner of the house you rented made accomodations to have you as a guest and you are still complaining?:shock:

 

[SMcQueen]

I quit. I give up.
I think the recent years of hurricane devastation has caused a change in the relationship between an Owner and a "Guest".
My family has rented at the Gulf for over 50 years, and the term "Travel Insurance" was not present.
I just want to be able to reserve a property for vacation, pay a deposit, and show up as scheduled.
My risk of forfeiting the deposit if I Cancel.
The Owner's risk if the property cannot be used, and I want my deposit back!!
Used to be simple.

 

[Bob]

I quit. I give up.
I think the recent years of hurricane devastation has caused a change in the relationship between an Owner and a "Guest".
My family has rented at the Gulf for over 50 years, and the term "Travel Insurance" was not present.
I just want to be able to reserve a property for vacation, pay a deposit, and show up as scheduled.
My risk of forfeiting the deposit if I Cancel.
The Owner's risk if the property cannot be used, and I want my deposit back!!
Used to be simple.

SMcQueen, it's not you. Folks justify these policies because their bills are higher for everything. It doesn't make it right.

 

[SHELLY]

SMcQueen, it's not you. Folks justify these policies because their bills are higher for everything. It doesn't make it right.

A lot has changed in the area in just the last couple of years. Of course the hurricane-thing has been a problem. But add to that the RE boom where people were flipping vacation houses/condos with the mortgages going up double-digits with each flip. Developers throwing up houses and condos as fast as they could--flooding the area with more "overpriced" vacation rentals. Insurance has gone through the roof (that hurricane-thing again). And taxes have also gone through the roof (that flipper-thing again). Service workers have been priced out of the area resulting in increased cleaning/property management expenses.

Owners are desperately trying to find ways to stay cash-flow positive as their expenses climb and all around them competition is fierce for the same guests. Owners and property management can no longer afford to leave these properties vacant--nor do they have a line of people waiting at the door hoping for a last minute opening. They have got to get "creative" and find a way to pass the risk along to the guest.

It's changed for sure...just part of progress I guess.

 

[yippie]

We won't rent through an agency that adds on the insurance. Too many that don't. I think Ocean Reef does so we decided not to use any of their properties. Just sharing thoughts..

I do NOT recommend Ocean Reef Properties. I RECOMMEND looking elsewhere!!!!!

 

[spinDrAtl]

Our policy is very simple:
Guests pay half up front (indicating seriousness of booking property)

Balance due 45 days in advance or full refund for cancellation at or prior to that time.

Cancellations less than 45 days - no refund. If we are able to rebook the property, guests get a refund for whatever amount we can get (protection for having taken our unit off the market for months).

Mandatory evacuation - guests get refund for unused days.
Rainy weather from hurricane in Texas - no refund
Property unusable - full refund

Little Johnny gets a cold - no refund
Dad turns his ankle being a weekend athlete - no refund
We RECOMMEND travel insurance for these types of things.