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[merged] Recommended insurance companies for my timeshare renters

jmzf1958

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Hi. I have someone interested in renting my timeshare. For those who have rented their timeshares, what insurance companies do you recommend to your renters for travel insurance? They are five military guys and would like insurance in case of deployment or illness that would cover the cost of the timeshare and airfare, baggage, etc.

In case of a claim, what do I need to provide to them? Would my paypal invoice be sufficient? Do all of their names need to be on the invoice?

Thanks. Judy
 
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jmzf1958

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[merged] Do you let renters cancel their reservation and give them their money back?

Hi. This is my first time renting out my timeshare. I've read the sticky. My feeling when renting is I should get 100% of the money upfront and if my renter needs to cancel, then they should purchase their own travel insurance and make a claim. Is this reasonable and standard, or do you just get a portion of the money up front and the rest later and/or if they cancel, do you refund their money? I just want to make sure I'm going about this the correct way.

Thanks.
 

GeraldineT

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I have and will continue to. I rented to a family last year and then the son broke his arm. Long story short I told her if I was able to rerent the points then I would refund her what she paid less any additional fees (guest certificate, ebay, paypal).

I was able to rerent, she got back the majority of her money and I felt good about what I did.

I am not a business or a big time renter. I am a SAHM with more points than we can use right now so I am just looking to cover my costs and if I can help someone out at no cost to me, I will.

Just seems like the right thing to do.
 

T_R_Oglodyte

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I always include a cancellation policy in which they get any money left over after I rerent the property, less any expenses incurred in the rental and a $100 charge for my time and services to conduct a second rental.

In the alternate, if they can find someone one their own to take over the rental, and the person is satisfactory to me, I will refund them their full amount less any incidental expense I might incur in changing the name on the reservation.

My policy is designed to give the renter an incentive to take responsibility to find someone to take their place. I'm not a hotel. The original renter and I made an agreement to provide a place to stay in exchange for money. If they need to back out for any reason, then they need to take some responsibility for trying to break our agreement.

If that becomes a big issue for them, then I tell them they need to rent directly from the resort where they can receive money back in case of cancellation. When they say that costs too much money, I tell them that if they want a full money back cancellation that's what it will cost them.
 

GeraldineT

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I think it also depends on the "product " you haves for rent. I own Wyndham Points so its "easier" for me than someone who owns week 35 and Resort X.
 

DeniseM

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I do not. In my rental terms I state that there are no refunds and no cancellations, and I recommend travel insurance. I am not in the insurance business, and I don't feel like it's my responsibility to insure someone else's vacation.

Click on my blue user name and send me a pm, if you'd like to see the rental terms that I use.
 

nazclk

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Refund

When I rarely rent a week, the agreement is half up front and half 45 days prior to check in. The half up front is non refundable. If they decide not to go ahead they don't pay the last half.
 

DeniseM

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rrlongwell

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I do not. In my rental terms I state that there are no refunds and no cancellations, and I recommend travel insurance. I am not in the insurance business, and I don't feel like it's my responsibility to insure someone else's vacation.

Click on my blue user name and send me a pm, if you'd like to see the rental terms that I use.

If you were to insure your interests on this point, do you have any names of reputable companies that provide it?
 

DeniseM

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A gentle suggestion - If you have more questions or comments about how to do a rental, post them in this thread, rather than starting a new one. (I have merged your 2 threads.)
 

gandalf252002

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I am an adhoc person, and based it on the person and whether or not they ask. If necessary, when I make the rental I have a contingency and get the insurance for myself (to cover my losses) and then in turn pass that along. Generally though, it is 25% up front and the remaining prior to check-in with that 25% non-refundable. That covers my time and effort, and the insurance I purchased. On LM rentals, there is no refunds on cancellation if I can not get one. I will try and help people out, but as a couple others have said I am not in the insurance business.
 

WinniWoman

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Hi. I have someone interested in renting my timeshare. For those who have rented their timeshares, what insurance companies do you recommend to your renters for travel insurance? They are five military guys and would like insurance in case of deployment or illness that would cover the cost of the timeshare and airfare, baggage, etc.

In case of a claim, what do I need to provide to them? Would my paypal invoice be sufficient? Do all of their names need to be on the invoice?

Thanks. Judy

As a renter, I use CSA.
 

theo

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Minor info update...


Access America apparently always was a sub-entity of Allianz Global Services. Recently, the parent company (Allianz) has applied their own name to what was formerly known as Access America. In short, the new direct link to this insurance is http://www.allianztravelinsurance.com. Same product, same gig, new name.
If you use the Access America link, you will now get automatically redirected to Allianz anyhow.

I very rarely rent out any of my weeks. When I do, my rental agreement clearly states in writing that there will be no refunds for any reason. My rental agreement also recommends in writing that the renter consider acquiring travel insurance to protect themselves against potential losses associated with unexpected trip cancellation or interruption. Whether or not renters choose to act upon that recommendation is entirely their choice and decision but, like others here, I am not (...and I don't want to be) in the insurance business.
 
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kaio

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I am not in the insurance business, and I don't feel like it's my responsibility to insure someone else's vacation.

Wish I could contribute more, but I need to +1 this. Landlords rarely include/provide renters insurance in the rent; that is the responsibility of the tenant to obtain in most cases, even if required to rent from said landlord. I wouldn't want to get involved... but looks like others have good suggestions for the OP to refer their renter to.
 

jmzf1958

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Sorry about the double post, Denise.

Thanks for all the replies. I did get 100% upfront from my renter this afternoon through paypal, and he will be responsible for his travel insurance.
 

wcfr1

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I do not. In my rental terms I state that there are no refunds and no cancellations, and I recommend travel insurance. I am not in the insurance business, and I don't feel like it's my responsibility to insure someone else's vacation.

I tell my renters the exact same thing. If they call saying they cant go I then tell them they are free to find a replacement.

I also give them these two sites but it is up to them to deal with insurance not me:
www.TravelProtectors.com and www.InsureMyTrip.com
 
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