Assurant insurance feedback
Mary Freiberg last edited by Mary Freiberg
I just had a guest leave, our first one after reopening, and it appears they broke the face off a drawer and cracked the interior side of a large window. I collect a $500 deposit for each reservation. This person booked through VRBO and I will process a claim. This is the first time for us having damage like this that warrants filing a claim against a guests deposit. Usually, the damage is a broken wine glass or soiled sheets. These are small enough I just eat the cost (yes, I know, I know) because it wasn’t worth it to me to make a claim against a guest when those are small mistakes that I could have made. This has me thinking about options and recalled MyVR offers Assurant. I’ve read discussion threads but did not find anyone posting their feedback and use. I am NOT integrated and only have one property and list on VRBO, AirBnB and my own website.
My question to this group is what is your experience in using this service - pros/cons?
If you are not integrated (or you are) how do you handle the charge for Assurant on VRBO and/or AirBnB?
Do you charge more than your cost and if so why?
Do you charge any other damage fees?
I would check first to see if they purchased a policy through CSA off VRBO’s website.
As for the Assurant Damage Protection, we sell it on every reservation of 30 days or less.
It is $40 to us for $1500 in coverage and $50 for $3000 in coverage . We chose the latter coverage and do a slight markup on our $3000 coverage. ( One of our local competitors charges $150 for $1500 in coverage. )
One reason we elected to move to the Damage Waiver product was to cut costs on Credit Card Processing Fees. Since those are no longer refunded when we return a Security Deposit, our properties were eating the fees on those $500 - $1000 deposits.
In our case, we cut the card processing cost of Security Deposits by 88%. We have more coverage and our Property Owners are happier.
Mary Freiberg last edited by
@mary-freiberg Hi Mary,
Filing the claim is easy through the App on MyVR. And it’s much easier to file a claim than to bicker with a guest over the price of the items they broke.
Not really getting any feedback. Possibly our pricing strategy seems to be working, we’re charging $20 less than VRBO for twice the coverage.
@joseph-sennish Apparently we’re selling it to every reservation of 60 days or less.