On VRBO, have you chosen damage protection or deposit? Why?

[Kevin Lefeuvre]

My thoughts:

Damage Protection:
Goods: The total cash paid by the guest at the time of the booking is less. Makes your property more accessible (at least on the surface).
Bad: Has a cost which is not used most of the time. I have setup the $59 for $1500.
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Deposit:
Good: Makes guests more responsible. Guest takes more care of the property, since you,  the host, are the only judge to decide if you retain or not the deposit in case of damage or issues.
Another Good: You can write in your contract that non respect of rules may lead to lose some of the deposit: Like noise, or a very unclean check out, etc... You can't file a DP claim for nuisance, for instance.
Bad: The out of the pocket cost shown at the time of the booking scares some guests. ($1500 in my case). And if you reduce the amount, you are reducing your protection.

I have tried both and I'm still not sure which way to go.
Airbnb's solution (neither one, just a virtual deposit, in case) is the best, IMO, but vrbo has not yet copied this one (I wish they would).

How are you dealing with this matter for those of you on VRBO?