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.
Family Member
Includes Traveling Companion's dependent, spouse, child, spouse's child, son/daughter-in-law, parent(s), sibling(s), brother/sister, grandparent(s), grandchild, step-brother/sister, step-parent(s), parent(s)-in-law, brother/sister-in-law, aunt, uncle, niece, nephew, guardian, Domestic Partner, foster child, or ward.
Origin: Vacation Rental Association
Fee Simple
When a real estate property is held in the property owner's name and ownership can be transferred at the will of the owner without other restrictions..
Origin: Vacation Rental Association
Financial Insolvency
Means the total cessation or complete suspension of operations due to insolvency, with or without the filing of a bankruptcy petition, whether voluntary or involuntary, by a tour operator, cruise line, airline, or other supplier of travel services which is duly licensed in the state(s) of operation other than the person, organization, agency or firm from whom you directly purchased or paid for your Covered Trip.
Origin: Vacation Rental Association
Fleece
Another word for towels, wash cloths and math mats
See also: Textiles, linens, towels Origin: May, William
Fractional
Describes a lodging property, usually a vacation home, owned by more than one person or party. Usually organized as an association having multiple owners who share use of the home on a pre-determined arrangement, each getting different times of the year.. In some, but not all, states fractionals are governed by timeshares but operate differently with owners having control over choice of manager, amenities and later sale or disposition of the parties.
Origin: Vacation Rental Association
Friendly Fraud
A customer proclaims they did not know they were buying something from the merchant when they gave their credit card. Or when the customer says a family member used their card without permission.
See also: Chargeback Fraud Origin: WM. May
FVRMA - Florida Vacation Rental Managers Assoc
Trade Association of Vacation Rental Managers in the State of Florida.
See also: VRIA, VRMA Origin: FVRMA
Gite
A French holiday home available for rent on a short term basis. Usually self-catering and fully furnished. Technically the owner must live close by to provide help, assistance, and a warm welcome to guests. Often Gites are old cottages or converted outbuildings and barns close to owners' residence.
See also: Vacation Rental, Holiday Villa, Holiday House, Holiday Let, Self-Catering Origin: Vacation Rental Association
Gleaning
In agriculture, farmers allow charity groups to enter fields already picked, to take left over crops. In lodging, charitable groups are allowed to use or sell nights unlikely to sell. This provides benefit to the charities, promotional value to properties and goodwill for all.
Origin: Vacation Rental Association
Goldener Inns
Company that provides lodging services to the Goldener Network of Inns and Resorts. Those members provide management services to small unique Inns and Resorts Vacation Rentals in various geographic areas. The Goldener Inns name is promoted to consumers to establish a national and international brand name.
Origin: Goldener Link: GoldenerInns.com
Guest House
A house, condo or other living unit used for short-term rental, usually in a resort or recreational area and having sleeping quarters, bath and kitchen. Also known as a Vacation Rental, Holiday let., Holiday House, Holiday Cottage, Holiday Villa or (in France) a Gite.
See also: Vacation Rental, Holiday Let, Holiday House, Holiday Cottage, Holiday Village, Gite Origin: Wm. May
Guestminder Program (For Complexes)
A co-hosting program for lodging owners offered by members of the Goldener inns & resort Network, such as Inns, Resorts and other multi-unit properties.
See also: Guest minders, guest minder, Origin: GuestMinders Link: GuestMinders.com
Home
A person's primary or secondary residence.
Origin: Vacation Rental Association
HomeMinder Program (Vacation Rentals)
A co-hosting program for vacation rental owners offered by members of the Sunspots Vacation rental network, such as for cabins, condos, homes & villas.
See also: Guestminder Origin: May, William
Hospital
An institution, which meets all of the following requirements: (1) It must be operated according to law;(2) it must give 24-hour medical care, diagnosis and treatment to the sick or injured on an inpatient basis; (3) It must provide diagnostic and surgical facilities supervised by Physicians; (4) Registered nurses must be on 24-hour call or duty; and (5) The care must be given either on the hospital's premises or in facilities available to the hospital on a prearranged basis. A Hospital is not: a rest, convalescent, extended care, rehabilitation or other nursing facility; a facility, which primarily treats mental illness, alcoholism, or drug addiction (or any ward, wing or other section of the hospital used for such purposes); or a facility which provides hospice care (or wing, ward or other section of a hospital used for such purposes).
Origin: Vacation Rental Association
Hospitality Industry
Another term for the travel industry.
Origin: Vacation Rental Association
Hot Tub Cleaning Fee
A certain amount above and beyond the rental rate charged to renters wishing to use your hot tub.
Origin: Vacation Rental Association
Icon
A facility or landmark which is visually synonymous with a destination.
Origin: Vacation Rental Association
Identity Theft Resolution Services
A service that provides assistance when your identity has been compromised while traveling on your vacation. This safeguard is automatically included for a full 180 days starting on your scheduled departure date. Identity Theft Resolution does not provide assistance for thefts involving non-U.S. bank accounts.
Origin: CSA Travel Protection
Injury
Bodily harm caused by an Accident which: 1. occurs while your coverage is in effect under the plan; and 2. requires examination and treatment by a Physician. The Injury must be the direct cause of loss and must be independent of all other causes and must not be caused by, or result from, Sickness.
Origin: CSA Travel Insurance