Accidental Damage Waiver?

[dougsmom98]

We have finally decided on a house to rent for our trip in Feb. 2008, and the owner sent us a rental agreement. It shows an accidental damage waiver fee of approximately $79. I have emailed the owner to ask him what exactly this fee covers but was curious if any of you had some information regarding it as well. Is this fee refundable like a security deposit? Is it a form of insurance so if something were to get broken, this insurance would cover it? Does anyone have any insight into this?
Thanks!

 

[disneynewbee]

We had this at a condo down the ocean before I'm not sure if it's the same at your place but what it was was that instead of paying a security deposit and waiting to get it back you pay the $79 fee which is not refundable and it covers any damages and you don't have to put down a security deposit.