CFAR Purchase Rule Update
Reminder that per the notice released on our Stay Feed blog, as of April 27, 2020, no sales of CFAR are permitted within 30 days of the trip departure date (the date your guests leaves for their stay with you).
Due to industry trends and current circumstances, Nationwide has directed that InsureStays cease permitting sales of PTNW CFAR and other Nationwide® underwritten CFAR programs for bookings made within 30 days of trip departure date (aka trip start date).
In summary, the purchase rules for CFAR are as follows:
Purchases of CFAR at time of booking are permitted.
Purchases of CFAR made within 14 days of booking are permitted, so long as the booking is made more than 30 days prior to the trip start date.
No Purchases of CFAR made within 30 days of trip departure date are permitted.
Retailers of InsureStays are encouraged to offer CFAR to eligible travelers and to offer standard travel protection to travelers not eligible for CFAR. In doing so, you can add revenue, motivate your travelers to book with confidence, and help your guests obtain superior coverage and peace of mind. You can review CFAR training HERE.
Retailers onboarded with RentalGuardian are responsible to provide complete, accurate data to facilitate the timely delivery of coverage documents. Fulfilling these requirements includes the responsibility to check your API failure log to ensure all travelers purchasing travel protection or CFAR receive their coverage documents and information.
Technology that Makes Travel Protection Easy
RentalGuardian makes offering travel protection easy. By powering integrated solutions, RentalGuardian helps property managers automate document delivery to guests, manage and administrate payments, and assist guests in obtaining superior coverage.
Platform Focus: Checking API Failures
Whenever a coverage open, modification, or cancel API request is denied, an API failure notice is delivered to the property manager (PMC). For those using Property Manager Software (PMS) systems fully integrated with RentalGuardian, the reservation record is flagged within your PMS system. RentalGuardian’s platform, aka PAM, sends a notification with specific API request details to the Data Notice email listed in your RentalGuardian account. Quickly correcting all API failures is mission-critical, as failure to do so may jeopardize your guest’s coverage or may cause a guest ineligible for coverage to think they have coverage when in fact they are ineligible
This video provides valuable instruction for handling API failures: LINK. Remember: it is the responsibility of the property manager to review all API failures and to correct them. The RentalGuardian support team is ready to help you: just email your request to firstname.lastname@example.org or contact your account manager.
Product Spotlight: The Liability Bundle
Property Protection Liability bundles add to our classic first dollar damage protection two other vital additional layers of coverage: liability and bed bug.
Liability protection responds with up to $1million of protection for situations where you or the homeowner become liable for bodily injury, medical payments, and damage to adjacent property and the primary homeowners/property which arise during a contracted stay and for which the homeowner’s primary coverage does not respond.
The Bed bug section responds to cover specific bed-bug infestation related losses including extermination, replacement of ruined furnishings, alternative accommodations, and lost revenue.
The cost of these bundles only adds $10 per stay to our standard retail pricing. Contact your sales rep for more information or email email@example.com to apply for the program.