Insurance Glossary
Vacation Rental Insurance policies can contain technical industry terms that make reading a challenge. To avoid confusion, the carrier as created the following list of definitions for a number of industry terms and phrases.
The following definitions are provided for informational purposes only. Please refer to your Vacation Rental Insurance Policy or Certificate of Insurance for definitions and coverages specific to your Policy/Certificate.
Spa/Pool Heating Fee
A certain amount above and beyond the rental rate charged to renters wishing to use the heater on your pool or hot tub.
Origin: Vacation Rental Association
Supplier Bankruptcy or Default
Bankruptcy or default of an airline, cruise line or tour operator resulting in a complete cessation of travel services which occurs more than 14 days after your policy's effective date. To qualify for coverage you must purchase the insurance prior to or within 24 hours of making your final trip payment.
Origin: CSA Travel Protection
Termination
The basis on which a party to a contract - written or verbal - may terminate the contract.
Origin: Vacation Rental Association
Terrorist act
An act of violence, other than civil disorder or riot, (that is not an act of war, declared or undeclared) that results in loss of life or major damage to property, by any person acting alone or on behalf of or in connection with any organization which is generally recognized as having the intent to overthrow or influence the control of any government.
Origin: Vacation Rental Association
Towels
Fleece based materials used for bath towels, hand towels, wash clothes, bath mats
See also: Textiles, fleece, bedding Origin: May, William
Travel Accident
Provides coverage for loss of limb or life in the event of an accident while traveling, or within 180 days after the accident due to the direct result of that accident.
Origin: CSA Travel Protection
Traveling companion
A person whose name(s) appear(s) with the guest on the same Covered Trip arrangement and who, during the Trip accompanies the guest.
Origin: Vacation Rental Association
Trip Cancellation
Provides reimbursement for certain unused, non-refundable expenses due to cancellation of your trip caused by a covered reason.
Origin: CSA Travel Protection
Trip Delay
Provides coverage if you are delayed during your trip for more than six hours due to a covered reason.
Origin: CSA Travel Protection
Trip Interruption
Provides reimbursement for certain unused, non-refundable expenses and additional transportation costs due to an interruption of your trip caused by a covered reason
Origin: CSA Travel Protection
Unauthorized Guest
Property occupants who were not pre-approved by the lodging manager and for whom additional charges will apply. Also referred to as Undisclosed Guest.
See also: Undisclosed Guest, Maximum Occupancy, Normal Occupancy, Sleeps Occupancy, Disclosed Guest, Drop-In Guests Origin: Vacation Rental Association
Undisclosed Guest
Property occupants who were not pre-approved by the lodging manager and for whom additional charges will apply. Also referred to as Unauthorized Guest.
See also: Unauthorized Guest, Maximum Occupancy, Normal Occupancy, Sleeps Occupancy, Disclosed Guest, Drop-In Guests Origin: Vacation Rental Association
Unilateral Termination
When one party terminations a contract prior to the term of the contract, the other party may delcare it a unilateral action and access termination fee.
See also: Termination, Termination for Breach, ,Mutual Termination Origin: Vacation Rental Association
Usual and customary charge
Those charges for necessary treatment and services that are reasonable for the treatment of cases of comparable severity and nature. This will be derived from the mean charge based on the experience in a related area of the service delivered and the MDR (Medical Data Research) schedule of fees valued at the 100th percentile and the Anesthesia Relative Value Guide.
Origin: Vacation Rental Association
Varoom Vacation Rental Co-Op
A network of Rent By Owners who cooperate with Managers to increase rentals and improve standards. Operated by Vortex Managers.
See also: Sunspots Network, Goldener Network Origin: Varoom.biz Link: Varoom.biz
View
What can be seen from an area of the property, not necessarily from all areas of the property.
See also: Beach View, City View, Mountain View, Resort View, Water View Origin: Vacation Rental Association
Water Front Accommodations
Buildings or rooms and living units in a building which is along side a body of water, salt or fresh water. Could be major oceans, estuaries, lakes, rivers or streams. Generally means there are no other buildings between the building and the water. Not necessarily Beach Front.
See also: Ocean Front, Beach Front Origin: Vacation Rental Association
Water View
When guests can see a body of water (Such as a lake, ocean, pond or river) from some area of the property, not necessarily from all area of the property. May include Full, Partial or Peekaboo Views.
See also: View, Beach View, City View, Mountain View, Resort View Origin: Vacation Rental Association