What's included?
Stay cancellation: Refund of partial payments or any amount retained by the property manager to the Guest in case of total rental cancellation.
Expenses for stay interruption: Refund of unused land services for early return to the Guest.
Refund of the booking balance to the Property Manager in case of Guest cancellation.
You will find detailed information about the coverage and conditions of each type of coverage in the attached pdf below.
Companies from all over Europe, except France:
Companies from France:
Benefits for the Property Manager
In addition to the benefits of Pack 1, the main benefit of this formula is ensuring 100% of the amount of any booking *, in case of cancellation by the Guest, regardless of the justified reason, once it has been settled.
This pack offers the following two options, from which you must choose one:
Payment of a re-rental bonus to the property manager if they have been able to re-rent a booking after a guest cancellation; in short, in case of guest cancellation, the property manager retains their fees for the original booking, earns fees for the 2nd re-rented booking, and benefits from an additional bonus of 50% of the re-rental amount**.
Example workflow:
-A booking with a base accommodation amount of €1,000 is canceled for which the guest had insurance.
-The property manager retains the amount already charged to the guest (for example, €250).
-The property manager re-rents the apartment (charges this second booking, for example €900) and the guest of this new booking takes out insurance.
-After the departure date of the second booking, the Property Manager contacts Gritchen to request the re-rental bonus of 50% of the re-rental amount (in this example, 50% of €900, which is €450).
Total amount received by the Property Manager: €250 (from the canceled booking) + €900 (from the new booking) + €450 (insurance bonus) = €1,600
Refund to the Property Manager (PM) of the unpaid amount of the original booking if the PM has not been able to re-rent a booking after the Guest's cancellation.
Example workflow:
-A booking with a base accommodation amount of €1,000 is canceled for which the guest had insurance.
-The property manager retains the amount already charged to the guest (for example, €250).
-The Property Manager decides not to attempt to re-rent the property.
-After the departure date of the canceled booking, the Property Manager contacts Gritchen to request the refund of the unpaid amount of the original booking (which will be €750 in this example).
Total amount received by the Property Manager: €250 (the part charged to the guest before cancellation) + €750 (insurance refund) = €1,000.
In case an event makes the stay impossible (for example, fire, natural disaster, water leak), the insurer will reimburse the Property Manager for the additional costs of the alternative booking.
In addition to generating additional income in case of cancellations, the insurance premium is paid by the Guest in the funnel, being an optional service. Therefore, the insurance is free for the property manager.
*The insurance covers 100% of the base rental amount
+
Optionally: a personalized amount in euros corresponding to the extras of the booking
** To request a re-rental bonus, the property manager must open a claim by writing an email to [email protected]
It is recommended to set the first payment the guest must make at 25% of the booking amount. This way, in case of guest cancellation, the property manager keeps the initial payment and receives the remaining 75% of the booking amount through insurance.
Benefits for the guest
Refund of the consequences of a cancellation before the arrival date and pro rata of unused services in case of early return.
No deductible in case of Illness, Accident, Hospitalization (# 85% of claims).
More than 25 risks covered.
Limit of €20K per file (with the possibility of reaching up to €50K).
Very broad definition of family members covered by the warranty.
Option to cover lack or excess of snow for winter destinations.
Individual consequences of epidemics (including Covid-19) covered.
Open territoriality: The guest can come from anywhere in the world for any accommodation in Europe.
Prices
Gritchen is dedicated to offering first-class service to its customers. Therefore, prices are exclusive to each property manager and tailored to the specific needs of the company.
Contact Alfredo Valero.
+34629911889