Cancellations are a fact of life in the short-term rental industry. But lost revenue doesn’t have to be.
According to industry research, the average cancellation rate for short-term rental bookings sits between 15–20%, with spikes around peak travel seasons. Even worse? A large percentage of these cancellations fall within that frustrating 30-to-60-day window, too late to easily rebook and too early for most standard travel insurance to kick in.
While some insurance solutions exist to cover cancellation losses, they often come with steep deductibles that chip away at your recovery. Combine that with rigid policy terms, and it’s easy to see why many property managers choose to absorb the loss rather than deal with the red tape.
At RentalGuardian®, we knew there had to be a better way. That’s why we’re excited to introduce Booking Guardian, a smarter, more flexible solution built to protect your revenue without compromising the guest experience.
Meet Booking Guardian
Exclusively available for Streamline users, Booking Guardian is flexible cancellation insurance that empowers property managers to offer broader cancellation policies without opening themselves up to unnecessary risk.
Here’s how it works:
- A small premium is applied to each booking.
- Guest cancellations made between 60 and 3 days before check-in are eligible for coverage.
- A 20% deductible applies, but the deductible is waived if you rebook the unit for at least 50% of the original reservation value during the same dates. Multiple partial rebookings count toward that threshold.
Exclusions:
- Named storm before booking: If there was a named storm in the area then the coverage won’t apply
- Epidemic: Definition: A sudden outbreak of a disease that spreads rapidly in a specific area or population.
- Pandemic: Definition: An epidemic that has spread across countries or continents, affecting a large number of people globally.
- Endemic: Definition: A disease that is consistently present in a particular population or region, but usually at predictable and stable levels.
Why Booking Guardian Matters
Industry-wide, cancellations are on the rise, and guest expectations are shifting just as fast. In a 2023 survey, 71% of travelers said flexible cancellation policies influence their booking decisions, and listings with flexible terms tend to see higher conversion rates.
But flexibility comes with risk unless you have the right protection in place.
Booking Guardian bridges that gap. It helps you say “yes” to flexibility while keeping your bottom line secure.
Pair with RentalGuardian’s Full Coverage Suite
Booking Guardian is just the latest innovation in our all-in-one risk management platform, which also includes:
- Damage Protection: Property and liability coverage for vacation rentals
- Travel Protection: Guest trip protection for cancellation, delays, and interruptions
Ready to Offer Flexibility Without Compromise?