Insurance Glossary

Vacation Rental Insurance policies can contain technical industry terms that make reading a challenge. To avoid confusion, the carrier as created the following list of definitions for a number of industry terms and phrases.

The following definitions are provided for informational purposes only. Please refer to your Vacation Rental Insurance Policy or Certificate of Insurance for definitions and coverages specific to your Policy/Certificate.

Unit

May refer to a room, suite or living area (such as a condo, cabin or home) which is offered to Guests for lodging use and rent. The unit includes all amenities described and associated with the unit including the grounds upon which it rests.
Origin: Vacation Rental Association

Unwelcomes

When a guest or tenant misuses a property, misbehaves, fails to pay as agreed or violates other conditions of the owner or manager's terms they are referred to as unwelcome and not allowed to rent the property again.
See also: Industry Origin: Vacation Rental Association Link: Unwelcomes.org

Use Fee

A proper term for the cost of renting a lodging property. May include rent, housekeeping and other charges.
Origin: Vacation Rental Association

Vacation Rental

A house, condo or other living unit used for short-term rental, usually in a resort or recreational area and having sleeping quarters, bath and kitchen. Also known as a Holiday let., Holiday Home, Holiday Cottage, Holidy Villa, Guest house or (in France) a Gite.
See also: Holiday Let, Holiday Home, Holiday Cottage, Holiday Village, Guest House, Gite Origin: Vacation Rental Association

Vacation Rental Travel Insurance

A form of travel insurance, purchased from a carrier who agrees to reimburse guests for some expense if they are forced to cancel their travel plans including their rental of a vacation rental home. Covered events usually these include death in the family, personal injury or flight delays. Highly recommended.
Origin: Vacation Rental Association

Visitor

A traveler who goes to a place other than his home to experience life in a different location. Usually means a stay of a short destination.
See also: Traveler Origin: Vacation Rental Association

Visitors Center

Travel information center located at a destination to make it easier for visitors to plan their stay; often operated by a convention and visitors bureau, chamber of commerce, or tourism promotion organization.
Origin: Vacation Rental Association

VRGA - Vacation Rental Guests Assocition

Trade association of guests who frequent vacation rental homes, organized to advocate for the benefit of its members
Origin: Vacation Rental Association Link: VRGA.org

VRIA - Vacation Rental Association

Trade organization that promotes the use and advancement of the vacation rental industry. Umbrella organization for VROA - Vacation Rental Owners Association, VRMG - Vacation Rental Managers Guild and VRGA - Vacation Rental Guests Association. The term VRIA is a Trademark owned by the Vacation Rental Industry Association.
Origin: Vacation Rental Association Link: VRIA.org

VRMA - Vacation Rental Managers Association

The Vacation Rental Managers Association is a trade association of companies that act as sales agents and managers for vacation homes, condos and similar lodging.
Origin: Vacation Rental Association Link: VRMA.org

VRMLS - Vacation Rental Multiple Listing Service

The world's first Multiple Listing Service (MLS) for Vacation Rentals this is an Open-Listing and Open-Distribution system. Owner and Manager Members can post Properties once and have them distributed to websites around the world. Website Publisher Members can retrive records and display the on their website.

Similar to the MLS's which have server real estate brokerage for decades; VRMLS is owned by the Vacation Rental Industry Association a Not-For-Profit organization. The term "VRMLS" is an owned trademark.
See also: VRIA Origin: Vacation Rental Association Link: VRMLS.org

VROA - Vacation Rental Owners Association

The Vacation Rental Owners Association (VROA) was a trade association comprised of members who own homes and vendors who support them. Became the Vacation Rental Industry Association (VRIA) to support all constituents in the industry.
See also: VRIA, VRMG, VRMLS, VRMA Origin: Vacation Rental Association Link: VROA.org

VVR - Verified Vacation Rental

A lodging unit that has submitted documentation and been verified as a legitimately owned and operated vacation rental by the Vacation Rental Industry Association (VRIA.org). Designated as "Verified Vacation Rental (IVR)". Does not include physical inspection as is included in the "Inspection Vacation Rental (IVR)" Program. The term IVR are trademarks owned by the Vacation Rental Industry Association.
See also: IVR, Inspected Vacation Rental, Blue Ribbon Rental Origin: Vacation Rental Association

24-Hour Assistance Services

These services offer on-the-spot and immediate assistance for unexpected problems that can arise during your trip. The hotline operates 24/7 for help anytime, any place while traveling.
Origin: CSA Travel Protection

Accident & Sickness Medical Expense

If you become sick or are accidentally injured while on your trip, we will pay for necessary emergency medical, surgical, and dental care costs. This coverage is excess over any other health, medical, dental, or accident insurance coverage you may have available to you.
Origin: CSA Travel Protection

Air Flight Accident

Provides coverage for loss of life or limbs in the event of an accident while traveling as a ticketed passenger on a certified passenger aircraft provided by a regularly scheduled airline.
Origin: CSA Travel Protection

Baggage and Personal Effects

Luggage, personal possessions and travel documents taken by you on the Covered Trip. Coverage provided for loss, theft, or damage to baggage and personal effects.
Origin: CSA Travel Protection

Baggage Delay

Baggage that is delayed for 24 hours or more is considered delayed. Most Travel insurance carriers reimburses for the cost of reasonable additional clothing and personal articles purchased by the travel if baggage is not received within 24 hours of arrival. Some airlines will reimburse passengers for toiletries, clothing, and other essentials if the arrival airport is away from the passenger's home area. Most airlines will deliver delayed baggage to the passengers home or hotel for no charge
See also: Travel Insurance, Vacation Rental Insurance Origin: CSA Travel Insurance

Beach View

When guests can see a beach (Salt or Fresh Water) from some area of the property, not necessarily from all ares of the property. May include Full, Partial or Peekaboo Views.
See also: View, City View, Mountain View, Resort View, Water View Origin: Vacation Rental Association

Cancellation Policy

The terms and basis on which a lodging property owner or manager will or will not accept cancellations. Also dependent on the terms on which the guest booked the property. Usually stated as a number o days prior to first date of occupancy on which a guest may request a cancellation. Fees may apply to cancellations or cancellations may be denied altogether.
See also: "Guarantee Reservation" and "Advance Loding Reservation" Origin: Vacation Rental Association

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