07 June 2010

Foreclosure Insurance... On Holiday

This isn't about insurance for your own foreclosure. Rather, it's about the possibility that your vacation rental could be in foreclosure.

A friend told me that a recently received trip insurance policy had a new clause: protection in case you get to your vacation house and find it boarded up, locked up, or otherwise unaccessible due to a foreclosure action. Notice I said action, not auction, although the prospect of an auction during your stay is pretty darn interesting.

I'm new to travel insurance, myself. In 2010, for the first time, I was booking travel far enough ahead (more than year) to feel uneasy about the possibility of needing to cancel later. (Insurance doesn't cover all cancellations—just the ones you would approve if you were the insurer.)

I attribute this caution to being a boomer. As a boomer, I was compelled to book that trip far in advance; and, as a boomer, I was nervous that I was booking too far in advance.

© 2010 Mary Bold, PhD, CFLE. The content of this blog or related web sites created by Mary Bold (http://www.marybold.com/, http://www.boldproductions.com/, College Intern Blog) is not under any circumstances to be regarded as professional, legal, financial, or medical advice. Or education advice. Or marital advice. Or even a tip.

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