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.

Normal Occupancy

The number of registered occupants for which the normal rental rate applies. There are per-day fees for each disclosed or undisclosed guest over the normal Occupancy.
See also: Sleeps Occupancy, Maximum Occupancy, Disclosed Guest, Undisclosed Guest, Drop-in Guest Origin: Vacation Rental Association

Obscured Rent by Owner (RBO)

When a website makes a property owners identify hidden thereby requiring guests to only communicate through their website dashboard, the rental is Obscure.
See also: Rent by Owner, Rbo Origin: May, William Link: VRIA.org

Occupancy Rate

The percentage of total available nights that have been rented for a property or a group of properties over a specified time period. 2. The percentage of all rental units that are occupied or rented at a given time.
Origin: William May

Ocean Front Accommodations

Buildings or rooms and living units in a building which is along side the ocean shore. Can be major oceans or estuaries. Generally means there are no other buildings between the building and the water. Not necessarily Beach Front.
See also: Beach Front Origin: Vacation Rental Association

OTA - Online Travel Agent

Websites where guests can book lodging, airfare, rental cars and other services online. OTA's utilize Global Distribution Services (GDS) to display services and then to confirm them with the travel provider. Examples of OTA's are Expedia.com, Orbitz.com and Hotels.com but there are many others offering the same services.
Origin: Vacation Rental Association

OTA - Open Travel Alliance

An organization that engineers computer and technical specifications to ensure traveler and supplier information flow smoothly throughout travel, tourism and hospitality. Membership includes major hotels, airlines and Global Distribution Firms.
Origin: OpenTravel.org Link: OpenTravel.org

Other covered events

Means the events other than Sickness, Injury and death that are covered under the policy for Trip Cancellation and Trip Interruption.
Origin: CSA Travel Insurance

Other valid and collectible group insurance

Means any group policy or contract which provides for payment of medical expenses incurred because of Physician, nurse, dental or Hospital care or treatment; or the performance of surgery or administration of anesthesia. The policy or contract providing such benefits includes group or blanket insurance policies; service plan contracts; employee benefit plans; or any plan arranged through an employer, labor union, employee benefit association or trustee; or any group plan created or administered by the federal or a state or local government or its agencies. In the event any other group plan provides for benefits in the form of services in lieu of monetary payment, the usual and customary value of each service rendered will be considered a Covered Expense.
Origin: CSA Travel Insurance

Out Clean Fee

A certain amount above and beyond the rental rate that is charged to renters to cover the cost of cleaning the property after departure.
Origin: Vacation Rental Association

PayPal

A fast and convenient online payment service. People like the convenience of this service since money is transferred automatically over the internet, directly from their credit card or personal checking account.
Origin: Redstone Systems

PayPal

A fast and convenient online payment service.
Origin: Plumbob Publishing

Per Person Pricing (PPP)

Often used for Vacation Rental homes, a pricing model where a minimum nightly rate is set for a property allowing a base or normal number of occupants. Guests pay an additional fee for each guest over the normal, up to a maximum number of guests allowed in the property. The additional fee is often much higher for unapproved guests.
See also: Dynamic Rates Origin: Istay

Physician

A person licensed as a medical doctor by the jurisdiction in which he/she is resident to practice the healing arts. He/she must be practicing within the scope of his/her license for the service or treatment given and may not be you, a Traveling Companion, or a Family Member of the guest.
Origin: CSA Travel Insurance

Pre-existing condition

An illness, disease, or other condition during the 180-day period immediately prior to the effective date for which the guest is scheduled or booked to travel (1) Received, or received a recommendation for, a diagnostic test, examination, or medical treatment; or (2) Took or received a prescription for drugs or medicine. * Item 2 of this definition does not apply to a condition which is treated or controlled solely through the taking of prescription drugs or medicine and remains treated or controlled without any adjustment or change in the required prescription throughout the 180-day period before coverage is effective under this Policy.
Origin: CSA Travel Insurance

Pre-existing condition exclusion

May apply to specific coverages. Please refer to the Policy/Certificate of Insurance for details.
Origin: Vacation Rental Association

Pre-Existing Condition Exclusion Waiver

May apply to specific coverages. Certain requirements apply. Please refer to the Policy/Certificate of Insurance for details.
Origin: Vacation Rental Association

Reservation Deposit

A certain amount of money collected upon booking that validates the rental contract. The reservation deposit can convert automatically in a damage deposit.
Origin: Vacation Rental Association

Resort View

When guests can see some or all of the resort they are staying in, 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, Water View Origin: Vacation Rental Association

Scheduled Departure Date

The date on which a guest is originally scheduled to leave on a trip.
Origin: Vacation Rental Association

Scheduled Return Date

The date on which guest is originally scheduled to return to the point where the Covered Trip started or to a different final destination.
Origin: Vacation Rental Association

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