- Install Damage Protection by Assurant app
- Set up coverage level and payment options
- Summary of coverage terminology
- Once Damage Protection is turned on, it is activated for all future reservations at eligible properties.
- You have the option to collect a non-refundable Damage Waiver fee in place of a refundable damage/security deposit with all insured reservations.
- For more details: https://myvr.com/vacation-rental-applications/damage-protection/
Install Damage Protection by Assurant app
Step 1: Navigate to Apps > Marketplace
Step 2: Search for “Assurant”, click the app icon
Step 3: Review app overview and FAQ
Step 4: Click Install Application
Set up coverage level and payment options
Step 1: Select per-stay coverage policy level
- Premium cost is shown for each coverage level
- One coverage level is selected for all properties
Step 2: Choose a payment plan
- Pay at booking
- Pay at check-in (requires signed agreement with MyVR)
Step 3: Choose Damage Waiver setting
- No Damage Waiver - renter will not be charged for damage protection
- Add Damage Waiver - renter will be charged for damage protection. Choose amount to charge.
NOTE: To charge a non-refundable damage waiver fee and at what amount is a business decision. Many customers choose to charge an amount higher than their premium cost.
Step 4: Choose Disable Damage (security) Deposits
- Disable damage deposits - automatically prevent existing damage deposit from being added to a quote when damage protection is activated
- Keep damage deposits - existing damage deposit amount will be added to quote along with damage protection
Step 5: Confirm settings, agree to terms
- Once Damage Protection is active, it will be automatically included in all newly created eligible reservations
- The Assurant app overview shows the date of activation and total number of insured reservations
- FAQ and Summary of Coverage document available in the app for easy reference
Summary of coverage terminology
- Damage coverage = dollar value covered per stay
- Premium = charge to MyVR customer credit card on file
- Damage Waiver = charge to renter as a booking fee
- To charge a damage waiver fee and at what amount is a business decision.
- Credit card on file will be billed by MyVR for the premium for all covered bookings, even if the renter is not charged a Damage Waiver Fee.