Damage Protection by Assurant - Overview and Installation

Article contents

• Install Damage Protection by Assurant app
• Set up coverage level and payment options
• Summary of coverage terminology

NOTE: 

• 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 

NOTE: 

• Premium cost is shown for each coverage level
• One coverage level is selected for all properties

Step 2: Choose a payment plan

1. Pay at booking
2. Pay at check-in (requires signed agreement with MyVR)

Step 3: Choose Damage Waiver setting 

1. No Damage Waiver - renter will not be charged for damage protection
2. 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

1. Disable damage deposits - automatically prevent existing damage deposit from being added to a quote when damage protection is activated
2. Keep damage deposits - existing damage deposit amount will be added to quote along with damage protection

Step 5: Confirm settings, agree to terms

NOTE: 

• 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

1. Damage coverage = dollar value covered per stay
2. Premium = charge to MyVR customer credit card on file
3. Damage Waiver = charge to renter as a booking fee

NOTE:

• 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. 

Additional Resources

Damage Protection by Assurant - Updating in a Reservation

Damage Protection by Assurant - Filing a Claim