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Do You Have the Right Type of Insurance for Home Exchange?

Keen home swappers and credit traders with IVHE know that one of the best aspects of these types of holiday are the cost savings. Whether you are in the mood to lounge by the pool in a dreamlike villa in Sorrento, or you feel like taking in the sights and sounds of a buzzing city like London, all you need to do is either make a direct home swap, or earn credits for future holidays by letting someone else stay at your home, or by introducing new members to the vast IVHE network. It’s a win-win situation for everyone, though, as is the case with every holiday, you need to ensure you don’t pay more than you bargained for by incurring costs that could have been avoided with a sound insurance policy that will cover any losses incurred. When shopping for a policy that covers your next swap, try to make sure the following is covered.  
Try to find a dedicated home exchange protection plan: Seek out a company that can provide a plan which specifically covers home exchange. The plan should include the following:
* Reimbursement if you have to cancel travel plans: Issues like sickness or injury can force you to cancel a trip; this can mean a big loss for you and your family, especially if you have already paid for items like your airfares. Top insurance companies will offer you a reimbursement that can run into a maximum of thousands of dollars, which is good news as far as security is concerned.

* Reimbursement if the trip has to be cancelled owing to unforeseen circumstances; these can include poor weather, which may cause a flight to be delayed or cancelled. Also, your policy should take into account any natural disasters (such as floods or fires) in your area, or any problems that may occur in your home. This can include damage caused to your property, or even a robbery or the destruction of your property by third parties.

* Home exchange damage waiver: Your insurance policy should cover any damage you may cause to the home of your exchange partner. You will most likely be expected to pay the immediate cost of repair, though this will be reimbursed, provided the amount is less than the maximum limit. Although it is right to assume that members will take good care of your home and vice-versa, accidents do happen so it is a good idea to up the maximum limit to the extent you can.

*Medical costs: Your plan should cover things like emergency dentistry, medical and surgical needs, supplies, etc. If you have a pre-existing medical condition, try to ensure any treatment or services you require for your condition while you are on holiday, will be covered. Your transport costs to the nearest hospital or emergency center should also be included, so long as the doctor who is treating you deems such assistance necessary because you are unable to drive or otherwise make your way to the hospital/emergency center, by yourself.

* Additional expenses: Sometimes, the least likely things can cause economic loss. This can include the loss of luggage or passports, or the unauthorized use of your credit card. These should be included in a clause on reimbursement for personal effects. When baggage is lost and isn’t found immediately, this will involve purchasing new clothing and personal items. What you spend, provided it falls within the limit, should be reimbursed.

* Assistance: In the event of loss of personal items, you may need help with a host of administrative tasks, everything from obtaining a cash transfer to obtaining a new passport. When you are in a country you are not acquainted with, even obtaining a referral to a good doctor or obtaining transport, can be a challenge, especially when you do not speak the local language. Some insurance companies offer travel assistance, given by dedicated professionals who can arrange paperwork and recommend quality professional services in the local area. Whether you are driving on an unknown highway and you suddenly find you have a flat tire, or you need to make a quick change in travel plans and need help making a booking, travel assistance will do plenty to put your mind at ease. 

This is a freelance article sent in by site reader Sally Smart - THANK YOU   


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