When a guest chooses to buy travel protection, they are making the decision to protect their vacation investment. The motivation to buy travel protection by the guest varies. Perhaps they are traveling during hurricane season or they have a family member that has a pre-existing condition.
Standard travel protection includes many types of coverage benefits. The primary benefit that travelers want is trip cancellation and interruption coverage. This coverage benefit reimburses guests up to 100% of their trip costs if the guest must cancel or interrupt their trip due to a reason that is listed in the coverage that was purchased.
Covered reasons include things like an illness or injury in the family or traveling party, hurricanes, natural disasters, jury duty, loss of job, and many more.
But what happens when your guest needs to cancel for a reason that is not listed in the coverage?
Types of possible cancellation reasons include a divorce or break up, visiting a destination a week or two after a hurricane where many of the restaurants or activities may still be damaged or closed, personal financial changes, and other reasons not listed in a traditional travel protection coverage.
Many travelers that would have purchased standard travel protection are typically willing to upgrade if such an option, like cancel for any reason, was available.
Since cancel for any reason coverage is typically more expensive, it may also result in the property manager earnings more referral fees.
To learn more about travel protection and cancel for any reason options, please contact your RentalGuardian account manager today at 888-885-5550.
Article written by Brady Stump, CEO @ RentalGuardian