cancellation insurance for guests

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Cas & Irene
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cancellation insurance for guests

Post by Cas & Irene »

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We get sometimes questions from guests about travel- and cancellation insurance. Now we thinking to offer all our guests a free cancellation insurance for the period that they can´t cancel without losing the down- or final balance payment.

We think that we can use this as a good selling point against all the "secureties" of the big ones.

The company we use now, don´t offer such a service. Anyone an idea for a good insurance company for group insurances?
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zebedee
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Post by zebedee »

An interesting idea!
So how will this work - you will be the client of the insurance company, I presume, and not your guests? Or do you just pay the premium like the travel agents used to and banks now do?


I would suggest a discussion with a specialist insurance broker - they would best know if such a policy if offered by any company. Schofields may be a good start.
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Cas & Irene
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Post by Cas & Irene »

zebedee wrote: So how will this work - you will be the client of the insurance company, I presume, and not your guests? Or do you just pay the premium like the travel agents used to and banks now do
The idea is that we forward the guest-booking details to the insurance company and we pay the premium. When there is a claim, the guest have to contact the insurance company direct, with a reference number or something like that. We don´t want be involved in claims etc!!

I think that we pay per month a amount in advance and
at the end of the month a list with the bookings and amounts involved, so they can calculate the right premium.
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gardenboy
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Post by gardenboy »

Good idea but why don't you just self insure, ie, underwrite the risk yourself. Collect say 5 gbp per booking as premium and just pay out on say medical emergency not change of mind.

I reckon over a few years you would be in profit.
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CSE
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Post by CSE »

Do you not have to have permissions (licence) to sell insurance?
Never try to out-stubborn your guests.
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Cas & Irene
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Post by Cas & Irene »

gardenboy wrote:Good idea but why don't you just self insure, ie, underwrite the risk yourself. Collect say 5 gbp per booking as premium and just pay out on say medical emergency not change of mind
We offer this insurance for free to the guests when they book. Just for the peace of mind. Sometimes we have bookings over the 3000 euro.
We have less than 1 cancellation per year, where guests losing deposit or final balance.
This is just a selling point, something new to offer to the bookers who are still in doubt.
If possible we will take a high owm risk to keep the premium low!
casasantoestevo wrote:Do you not have to have permissions (licence) to sell insurance?
I think so, but we don´t sell any insurance, we cover their risk for free. They don´t pay us any premium!
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Essar
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Post by Essar »

These folks have a UK travel cancellation insurance policy; they also have several other specialist travel insurance services, so maybe able to help.

I used to do what you are suggesting for the UK guests using this service. Not one cancellation is 5 years, I then cancelled it and have had 9 cancellations in the past 2 years. None of them had insurance and either lost their deposits or the full rental.

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CSE
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Post by CSE »

Just do not go there. far too complicated, will you cover other booked accommodation?
Will you be willing to attend a court or similar if the claim is disputed?
Even if you supply it for free there will be regulations to adhere too. It is like free breakfast that we supply, we still have to adhere to the food regulations.
Never try to out-stubborn your guests.
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Cas & Irene
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Post by Cas & Irene »

Thanks Essar for the link, but I think to be honest that we have to use a Spanish insurance broker/company instead of an English, because we are a Spanish company. And wat happends after the Brexit ... :lol:

I have send them an enquiry, so will see how they respond.
casasantoestevo wrote:Will you be willing to attend a court or similar if the claim is disputed?
Even if you supply it for free there will be regulations to adhere too.
Any idea about, and were to find this regulations??
casasantoestevo wrote: It is like free breakfast that we supply, we still have to adhere to the food regulations.
I don´t think this is a very realistic compare (ok, from both you can be sick :D ).
More and less the same as we give our guests a free meal in the marina restaurant, we are not responsable for the quality. When they have a bad meal, ok no selling point for us, bud they can´t charge us for anything unless they have to pay us.

Next to that, they don´t have to accept the insurance, but if they do, than on our conditions that we are not a third party and this is an agrement between them and the insurance company. They have also give us permission to provide the personal details to the insurance company. So some legal work have to be done.

There will be always people who try get more out of it with complains etc. But to court when the insurance company don´t pay their claim .... I´m pritty sure that we are not a party a dispute.
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CSE
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Post by CSE »

Any idea about, and were to find this regulations??
Ask your gestoria. They will be the ones providing your insurance. Ours does as she also sells insurance. The Gestoria should also know about the laws of Spain.
The comparison was only to illustrate that if you sell something but never charge for it, you are still responsible. It was not meant to be taken literally. If employing other persons you have to write a lot of small print to say you are not responsible for those services.


Again, and this is the most important message: Just do not get involved.
Never try to out-stubborn your guests.
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