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View Full Version : Do you buy insurance?


papertraveller
01-05-2010, 05:52 PM
Do you purchase trip cancellation coverage when you're using DVC points for your vacation, in case you can't make the trip? Or do you just risk it?

DisneyStarWisher
01-05-2010, 06:33 PM
I am interested in others' opinions, as well.

I am really thinking about buying insurance for my October AKV trip since I am using 264 points. That's a lot of points!!! Plus if we have to cancel, I'm not sure we would be able to get back to WDW before the end of my UY (which is June). But I may not buy insurance for my July HHI trip since it's just my husband and me and we are staying in a studio for 56 points. If we have to cancel it, we will probably reschedule for another time since HHI is closer to home than WDW is.

This thinking is based on the assumption that if you buy insurance and have to cancel you get compensated a monetary value but you just lose the points. Is this correct? Or do you get the benefit plus get to keep your points? That's going to make a difference for me!

Sandisw
01-05-2010, 07:22 PM
I am not sure how the insurance reimbursement works, but I believe it is a monetary amount (maybe $5.00 per point?).

I don't plan on ever buying it as my yearly trips will take place at the beginning of my UY. If I ever had to cancel, I would have a good 10 months to reuse the points.

And, if I couldn't use them, I know that I could find someone, friends or family, to take them.

But, if you are using borrowed points, or traveling at the end of your UY without much time to replan a trip, then it is something that you might consider.

AirGoofy
01-05-2010, 07:51 PM
We have not purchased the insurance. I think if you cancel 30 days prior to the booked vacation, then you can still bank the points to the following year, as long as you had not borrowed them from the previous year and you are within your window. So, since the trip is October and your UY is June, you have to bank points prior to Jan 1. I will defer to someone smarter than me to answer that question. If you are within the 30 days, then they go into a holding account that you can use with some additional stipulations.

Wow! That's complicated. Even without the insurance, we had to cancel a vacation within 30 days and MS was good at working with us with the holding account and we were able to take another vacation shortly thereafter.

DebbieB
01-05-2010, 10:05 PM
With a reimbursement of $5 per point, that would not even cover dues. I'll take my chances. I think the premium is high too. If it would reinstate the points, I might be more willing.

Tiger926
01-05-2010, 10:16 PM
I researched it several times and it's not good at all. The rep even admitted that they had some flaws in the program. There are a ton of exclusions, but even if you did qualify, the amount is not very high at all. We travel at the beginning of our use year, and even with my very limited schedule as a teacher in terms of when I can travel, we don't buy insurance. I had several immediate family members on death watch last year (one just passed away 2 weeks ago) and they said insurance would only cover if they actually passed away, and there would be limitations and exclusions as they had pre-existing conditions. Also had my hubby with kidney stones, and baby with severe asthma/ear tubes/pneumonia, and again, due to pre-existing conditions, they wouldn't be covered either. We used close to 400 points for 2.5 weeks during that trip, as we stayed at both DVC and non-DVC resorts (Yacht Club and Contemporary Concierge) and we didn't get insurance at all. We figured it we got called home for a death of an immediate family member, losing points would be the last thing on our minds.

I would seriously do your research before shelling out the money - I would love to know if anyone actually is able to collect on a DVC insurance claim? MS is good about cancellation periods, working with you on re-booking, etc.

Good luck, Tiger

Tozzie
01-05-2010, 10:18 PM
I don't buy insurance, I look at it this way in over 20 years I have only had to cancel a vacation once and that was extrordinary circumstances that affected the entire country. If that was the only time I have ever had to cancel a vacation I will take my chances and not purchase the insurance the return isn't worth it.

Crystal_27
01-06-2010, 08:03 AM
We don't buy the insurance either, except when cruising. And, with cruising, we don't buy it because we are worried about not making the trip, we buy it in case of a medical emergency. :thumbsup2

WolfpackFan
01-06-2010, 08:05 AM
Nope. If something comes up we just reschedule. We've only had points go into holding once and we were able to use them later on.

braudcms
01-06-2010, 09:52 AM
I never buy travel insurance. Most people will still make a vacation work, unless it's a catastrophic illness or event.

Girlie1
01-06-2010, 12:16 PM
Sounds like I am the only sucker out there because I always get the insurnace. I have two children (DS5 and DS9) and we always fly so I am always worried that they will wake up sick the morning we are supposed to leave. If my points went into holding, I would more than likely not be able to use them as we travel on school vacations. I can see why others would not bother but under my circumstances, I like to know I would not lose everything if we had to cancel.

Tiger926
01-06-2010, 03:40 PM
Sounds like I am the only sucker out there because I always get the insurnace. I have two children (DS5 and DS9) and we always fly so I am always worried that they will wake up sick the morning we are supposed to leave. If my points went into holding, I would more than likely not be able to use them as we travel on school vacations. I can see why others would not bother but under my circumstances, I like to know I would not lose everything if we had to cancel.

Just to let you know that if they become sick with a pre-existing condition within the last 8 months, I think (I'd have to look back on my notes), they won't cover you. So, say for example, your child has throat infection for which he/she was treated for, and then during vacation, he has another throat infection, insurance will not accept your claim. My baby has asthma, and so if he had come down with pneumonia on vacation, we would not have been covered because his pre-existing condition of asthma caused his pneumonia. I went over and over with them on this, so maybe you should call for clarification before shelling out the high premiums they charge.

Tiger

Anal Annie
01-06-2010, 04:24 PM
Sometimes, but not always. I purchase it for really expensive trips (like to Hawaii), cruises and during hurricane season. I would consider it for a winter trip too in case of flight delays. I guess overall we're about 50/50 on it.

papertraveller
01-06-2010, 04:37 PM
I'm not sure that I am persuaded to buy it to cover the land-based vacations... yet.
But I am regretting that I did not pick it up before the 75-day mark for our cruise.
Ah well, live and learn.

bumbershoot
01-06-2010, 05:37 PM
Just to let you know that if they become sick with a pre-existing condition within the last 8 months, I think (I'd have to look back on my notes), they won't cover you. So, say for example, your child has throat infection for which he/she was treated for, and then during vacation, he has another throat infection, insurance will not accept your claim. My baby has asthma, and so if he had come down with pneumonia on vacation, we would not have been covered because his pre-existing condition of asthma caused his pneumonia. I went over and over with them on this, so maybe you should call for clarification before shelling out the high premiums they charge.

Tiger

Wow! That's way more stern than "normal" travel insurance, it seems.

Tiger926
01-06-2010, 05:50 PM
Wow! That's way more stern than "normal" travel insurance, it seems.

I see most insurances have pre-existing clauses, but not sure of how far back they go back for pre-existing? We have travel insurance with our VISA Platinum card, but we don't use it as we can't use it for DVC and we don't fly. I remember comparing it to our VISA insurance, and it was similar. It is very restrictive as far as I can see - the agent apologized a bunch of times, as I was calling because I had several relatives on death watch, plus DH had a kidney stone bout a few months before, and a sick baby. None of these would have qualified due to pre-existing conditions. They would have covered a portion of fee to return home for a family member's death, but again, there were a bunch of stipulations and exclusions, as far as I can remember.

Tiger

DisneyStarWisher
01-06-2010, 07:56 PM
The reason I'm interested in the insurance is because I had to cancel our summer 2008 trip when my grandfather became ill with a rare brain disease for which there was no cure. He lived 3 months from his first symptom. We had WL booked on cash and were able to get our money back. (This was pre-DVC.) I never thought we would have to cancel a trip, but it happened. That's why I'm curious about the insurance. I still would like to know if you still get your points even if you collect a monetary payment. Anyone know how that works?

AnnaS
01-07-2010, 07:14 AM
Another 50/50 buyer here. It all depends on the vacation. Flying, yes, cruising, yes, leaving the country, yes. Land vacations - no.

dcfromva
01-07-2010, 07:35 AM
I have not purchased ins, yet, either. I think it is too expensive for what is covered.
I generally fly on SWA and they have pretty generous rebooking policies.
One thing you could do if you are really worried is to book a room offsite for the first night. You can generally find some competitive rates--some may even permit same day cancellations in case you have to cancel at the last minute unexpectedly. Canceling a day before would put your Disney points into holding, but at least you wouldn't lose them. (Of course, if you are using points at the tail end of your UY, it could be problematic to reschedule. )