Friday, February 1, 2013

Can You Insure Vacation Rentals?

I recently received the following advertisement.

Get a Free 10-Day Look with Allianz Travel Insurance, the world leader in travel insurance. Get a free quote now.

My husband and I always take travel insurance when we travel and Allianz is the company that we use. We have been fortunate to not have to make any claims but we've seen enough travelers get hurt or sick while away to know that we want to be insured.

One of the items covered is trip cancellation costs. If one of us becomes ill or there is a death in the family, for example, we are covered for any non-refundable expenses.

But what about a vacation rental? Friends of ours travel to the Outer Banks of North Carolina every summer. They have a big family and rent a big house. I'm pretty confident that their rental fee is due well in advance and is probably not refundable unless the home owner can re-rent it for the same time slot.

Could they buy insurance from Allianz to cover that expense? I'll have to do some research.

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