What is a Damage Waiver?

A damage waiver is a type of coverage that is offered by some vacation rental companies and property management firms to protect the owner of the rental property against accidental damage caused by the renter. It is also sometimes called a "damage protection plan," "accidental damage insurance," or "accidental damage coverage."

The purpose of a damage waiver is to provide protection for the owner of the property in case the renter causes accidental damage to the property, such as spilling a drink on the carpet or knocking a hole in the wall. In most cases, the damage waiver will cover the cost of repairing the damage, up to a certain amount. The renter may be required to pay a fee to purchase the damage waiver at the time of booking the vacation rental.

Whether or not vacation homeowners should include a damage waiver will depend on their individual circumstances and risk tolerance. Some homeowners may feel more comfortable having a damage waiver in place to protect their property, while others may prefer to rely on their own insurance coverage or the security deposit to cover any accidental damages that may occur. It's important for homeowners to carefully consider their options and make a decision that is right for them.