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.

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

Advance Lodging Reservation

A Booking for a set period of time in the future such as renting a lodging property for a week or weekend. Advance Lodging Reservations require the owner or manager to keep the property available for the guest's exclusive use on the dates booked. In return, Advance Lodging Reservations are only cancelable in accordance with the owner or manager's terms and conditions.
Origin: Vacation Rental Association

Advance Payment

Payment by the renter to the owner equaling a portion of the total rental amount. The advance payment is applied to the total rent cost.
Origin: Vacation Rental Association

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 Front Accommodations

Buildings or rooms and living units in a building which is along side a body of water and generally with a reasonably level geographically between the building and the water. Generally means there are no other buildings between the building and the water. Is more specific than Ocean Front Accommodations which may not be on a beach.
See also: Ocean Front Accommodations Origin: Vacation Rental Association

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

Bed Codes

Short-hand code that allows guests to instantly see the number and sizes of beds in a lodging property. Rather than a description, or a totaling, each bed is represented by a Letter symbol. For example: QQKTTL means a home has two queens, one king, two twin beds and a sleeper sofat.

The codes are as follows:

K = King
Q = Queen
F = Full
T = Twin
C = Futon Couch
M = Mattress
A = Air Mattress
L = Sleeper
S = Sofa
D = Day Bed
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

Certified Hearing Dog

A dog which has completed extensive training to alert its owner to a variety of sounds in different environments. These dogs are usually identified by a bright orange leash with black lettering.
Origin: Hearing Loss Association of Canada

Chargeback Fraud

When a customer disputes a credit card charge in a dishonest and deceitful manner. Chargeck fraud is essentially online shoplifting and can be reported to the credit card company and local police as fraud.
See also: Friendly Fraud Origin: Wm. May

CHPA - Corporate Housing Providers Association

Industry trade association of businesses that provide corporate housing. They seek the growth, professionalism, excellence, customer service and profitability will improve each corporate housing company individually and the worldwide corporate housing industry collectively.
Origin: CHPA.org Link: CHPA.org

City View

When guests can see sections of a town or city from some area of the property, not necessarily from all ares of the property.. May include Full, Partial or Peekaboo Views.
See also: View, Beach View, Mountain View, Resort View, Water View Origin: Vacation Rental Association

Client Lockoff

A locked closet that you set aside in your vacation rental property for your personal things. This is off limits to guests.
See also: Client Closet Origin: Vacation Rental Association

Collision Damage Waiver

Provides primary coverage if the car you rented while on your trip is damaged due to a collision, fire, flood, theft, vandalism, windstorm, or hail.
Origin: CSA Travel Protection

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