The Accidental Damage Waiver (ADW) program from Fudge Insurance, available to all active FAVR members, provides protection for your rental properties against accidental damage caused by guests. It replaces the need for security deposits, offers flexible coverage limits, and includes a simple, fast claims process. Whether you manage a single home or multiple units, this program covers any number of properties with no minimum or maximum requirements.
Submit claims within 7 days of guest checkout using our web form. Covered claims are reimbursed via ACH within two weeks. Each month, submit your stay report and payment for the previous month.
Q. Do I need to manage a certain number of properties to qualify for the ADW?▶
A. NO. A major benefit of signing up through FAVR is there is no minimum requirement.
Q. Is there any underwriting once I sign up?▶
A. No underwriting, another benefit of signing up through FAVR.
Q. What coverage options are available?▶
A. $1,550 for $13.50 a stay, $3,000 for $27.00 a stay, $5,000 for $40.00 a stay.
Q. How often do I need to report guest stays and submit payment?▶
A. Once a month at the beginning of every month.
Q. What is the process for reporting stays and submitting the monthly payment?▶
A. On the 1st of the month you will receive an email from us with a reminder to submit your prior month's stay report and make payment. There will be links on the email to guide you to the proper place to do both.
Q. Once I have signed up, how quickly can I start taking advantage of the program?▶
A. Once you have signed up you will be able to start using the program right away on any new bookings. Bookings that are already in process are not eligible.
Q. What information is needed to file a claim?▶
A. You will need the guest name, property address, description of the damage, photos of the damage, and a receipt/invoice/screenshot of the cost to repair or replace the damaged item. All can be uploaded through the claim submission portal.
Q. What is excluded and is not covered by the policy?▶
A. Please refer to the full list of exclusions.
Q. Who do I contact for questions?▶
A. Doug Fudge - info@fudgeinsurance.com or 407-965-4253
Q. If we use the ADW program do I still need to collect a security deposit?▶
A. This program is intended to replace the need for a security deposit.
Q. Is the coverage good for the entire guest stay?▶
A. Yes, you charge the guest at time of booking for a stay up to 90 days.
Q. How long do I have to file a claim once the guest checks out?▶
A. A claim must be filed within seven days of guest check-out to be covered.
Q. Does the guest have to report the damage?▶
A. No. You or your staff can file the claim.
Q. How do I file a claim?▶
A. All claims are filed through the Fudge website.