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.

Tourist

Traveler how moves from place to place to enjoy and experience different locations. Differs from business travel who comes for business purposes.
See also: Traveler Origin: Vacation Rental Association

Transient

A Guest who arrives without an advance reservation or pre payment. Contrary to representations to those opposed to Lodging, guests with reservations are NOT transients.
Origin: Vacation Rental Association

Travel

Leisure and other travel including travel for business, medical care, education, etc. All tourism is travel, but not all travel is tourism.
Origin: Vacation Rental Association

Travel Agent

An individual who arranges travel for individuals or groups. Travel agents may be generalist or specialists (cruises, adventure travel, conventions, and meetings.) The agent receives a commission form accomodations, transportation companies and attractions for coordinating the booking of travel. They typically coordinate travel for their customers at the same of lower cost than if the customer booked the travel on his/her own.
Origin: Vacation Rental Association

Travel Insurance

Purchased from a carrier who agrees to reimburse guests for some expense if they are forced to cancel their plans due to certain reasons. Usually these include death in the family, personal injury or flight delays. Highly recommended.
Origin: Vacation Rental Association

Travel Product

Refers to any product or service that is bought by or sold to consumers of trade including accomodations, attractions, events, restaurants, transportation, etc.
Origin: Vacation Rental Association

Travel Seasons

Travel industry business cycles including:
Peak - Primary travel season
Low - Period when business is slowest
Shoulder - period between peak and low periods when business is stronger, but has room from growth.
Origin: Vacation Rental Association

Travel Trade

The collective term for tour operators, wholesalers, and travel agents.
Origin: Vacation Rental Association

Traveler

Any person who travels either for leisure or business purposes more than 100 miles (round-trip) in a day or who stays overnight away from his other primary domicile.
Origin: Vacation Rental Association

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 Manager

A company that provides comrepehensive lodging management services to multiple second homes such as cabins, condos, cottages, houses, villas, etc. Such managars operate local offices, housekeepers, staff, marketing, advertising, accounting and reservattions. May also refer to a person at such firm who is in charge of properties.
See also: Property Manager, Absentee Vacation Rental Manager, Corporate Vacation Rental Manager 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

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