Vacation Homes Cancellation Policies!!!!!!!

[LSUmom4kids]

The fine print cancellation policies of the Vacation Homes has me very concerned! I've been looking at houses and now see that if you cancel your stay within 15 days you could forfeit your entire rental! I don't anticipate having to cancel, but this would definitely go on my "con" list.

What is trip insurance? Where do you get it and how much does it cost? How does it work? Has anyone had to use their trip insurance?

The rental homes have attractive prices, compared to resorts, but the forfeit fee scares me! I realize that hotels can always sell their rooms to someone else and the vacation homes don't always have that luxury, but a "one night" forfeit fee might be more reasonable. Am I being unreasonable?

How do these cancellation policies compare to other resort destination rental homes?

 

[sympatico]

We usually get cancellation insurance when stay at a vacation home. We used insuremytrip.com this time. When you put in what you want it will bring up insurance companies and how much it will cost, then you pick the one you want. To insure the places we are staying this time it only cost us $68. with Travel Guard. That covers the $1600. we've paid for accomodations. This cancellation is limited to health emergency or death related reasons as to why you're cancelling. There's also companies that cover you if you change your mind but the premium is higher. We've never had to use our cancellation insurance so I can't answer that part of your question. Most all vacations homes that I've seen have the same forfeit clause. Usually it's less than 30 days before your date unless they can rent it out.

 

[5mins2disney]

The fine print cancellation policies of the Vacation Homes has me very concerned! I've been looking at houses and now see that if you cancel your stay within 15 days you could forfeit your entire rental! I don't anticipate having to cancel, but this would definitely go on my "con" list.

What is trip insurance? Where do you get it and how much does it cost? How does it work? Has anyone had to use their trip insurance?

The rental homes have attractive prices, compared to resorts, but the forfeit fee scares me! I realize that hotels can always sell their rooms to someone else and the vacation homes don't always have that luxury, but a "one night" forfeit fee might be more reasonable. Am I being unreasonable?

How do these cancellation policies compare to other resort destination rental homes?

Almost all VRBO rental homes will have these kinds of cancellation policies, it's not just in Disney, it's everywhere you go that rents by owner. Your logic is dead on correct, it's because the owners lose their "chance" to rent the home to someone else. Trip insurance is the way to go.. www.insuremytrip.com 15 days is actually pretty lenient for the full cancellation...most are 30-60 days out...or 6-8 weeks out.

We've rented for years though by owner all over the country, and never bought trip insurance, never needed it. If we were going to cancel for some reason we would do it well in advance and avoid the fees, there's very little that would prevent us from going. Many "bargain" airfares and rental car rates (priceline.com) are non-cancellable and non-refundable too...vacation homes aren't all that different.

Owners just don't want people backing out and changing their minds at the last minute....can you blame them? You work your tail off to get rentors into your home...take it off the market for other potential guests..and you don't want someone cancelling at the last minute...it's not a hotel...you're going to lose all that income at the last minute with zero chance of getting someone else to take the rental! The closer you get to the arrival date, the less chance there is too! This is why as you get closer to arrival the "penalties" become more stringent.

 

[Brian Noble]

It's usually well more than 15 days. The home I'll be staying in next week was 70.

I just view it as a question of who assumes the risk of me not going. If the homeowner has to assume that risk, they have to charge more to make the same amount of money in the long run. After all, they typically have only 1-3 homes, and losing a week's rental is a serious blow to them. Instead, I assume that risk, and either pay to transfer that risk to an insurer, or bear it myself.

If you haven't already done so, I'd encourage you to get a recent copy of the Unofficial Guide and read their section on vacation home rental. The vacation home market works very differently than the hotel market does. It can be a really good value, but it's also strange if you've never done it before. In addition to the cancellation policy, there are many hotel "services" you might be expecting but won't see---no maids, no concierge, and no room service (unless you can convince your SO to bring you breakfast in bed.) On the other hand, you get a well-equipped home, tons of privacy, at a very attractive price.

The vacation home experience isn't for everyone, but we love it---it's one of our favorite ways to travel, and we've rented several homes in OBX and Orlando---all have been great experiences, and each home is unique.

 

[Mainebound]

Buy the trip insurance. We insured our family of five -- plane tix and villa -- for $100. It also covers lost luggage and a lot fo other events. If our luggage is lost for more than 24 hours, for example, we get $$$ to buy new clothes.

I have elderly inlaws who have been in and out of the hospital. I can't imagine going to WDW if one of them were to be re-admitted. We'd be driving to Long Island instead, and I would be out thousands of dollars. For me, the $100 is worth it for peace of mind.