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.
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
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
Property Review
Guest's online review of a property they rented. Often posted to channels such as AirBnB, VRBO, Expedia, Booking.com, TripAdvisor. Etc.
See also: Guest Review Origin: Wm. May
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
Scheduled trip departure city
The city where the scheduled trip on which the guest participates originates.
Origin: Vacation Rental Association