Travel industry sees explosive growth in vacation rental market

Travel industry research has revealed a sharp rise in the vacation home rental market.

The company Vacation Home Rentals recently projected a 13.1 percent increase in its 2011 rental business, and the 2010 Radius Global Market Research survey revealed an $85-billion market in U.S. and European vacation rentals.

Travel Insured International®, the leading independently-owned provider of travel coverage, warns that risks necessitating trip insurance do not decrease with a vacation home rental compared to other types of trips such as cruises, resort hotel stays, or guided tours.

Travel accidents and illness, weather-related travel or destination disruptions, and natural disasters are all still part of the vacation risk potential when the vacation destination is a rental home. And with most vacation rentals requiring full prepayments prior to arrival, including taxes, security and cleaning fees, the loss of a complete vacation's cost is very possible if not covered by travel insurance.

Source:  PR Web