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Different Types of Insurance for Holiday Rentals

By Brown Ezilon.com Articles Published 07/24/2011 | Travel Insurance
Now, nobody likes to have to cut their holiday short and throw out their money from the window, just as much as the manager or the holiday rental home you are staying at likes to see his holiday letters arrive and leave after two days when they had booked for two weeks.

Unfortunately, there are events that occur which we simply cannot foresee and it does happen that we do have to return home unexpectedly. So, what happens in these cases? Do we lose all the money we spend in paying for the holiday rental?

In most cases the owner of a holiday rental cottage will not refund any of the money you lost on your package, as he or she will argue that they the two weeks were lost and that the season is usually fully booked, therefore another renter would have taken your place. The owner will simply state that a replacement could not be found, therefore you cannot be refunded, even though you only stayed for a few days. If you do not have a holiday rental insurance then the money is lost, these are the bare facts.

Many people believe that holiday insurance is only needed if there is a flight involved; where delay, lost baggage, and the risk of the airline going bust, is covered; and medical cover is required in a foreign country. Most of us do not consider it important to buy insurance that covers holidays we take on our own national soil.

If you do not want to run the risk of finding yourself losing all your holiday money, then you should seriously consider getting holiday rental insurance. In most cases people book their holiday cottages months before and you cannot really foresee what will happen in three, four or six months. This is why it is important you are covered for any events, such as illness, accident or any similar issues that may occur during your holiday or even a few days before.

You can even find some insurance companies that offer a change of plan coverage that will allow you to cancel your booking without a specific reason and in cases when you have paid the whole amount out to the owner. The refund usually pays out an amount sufficient to cover any cancellation fee the rental agency or owner may apply.

When you book your holiday rental property, check the property owners or agencies cancellation policies carefully. If it is not clear, ask the question. In general, most private owners and rental agencies will attempt to rebook a property if it is cancelled, and refund your money for the period they have rebooked, less a cancellation fee.

The premium paid for holiday insurance becomes less significant, the more you are paying, however it does help to know that you will not be losing all your money in the event you have to cancel your holiday.