Why would a DVC member purchase trip insurance?

[walkdmc]

After reading about the BIG NEWS trip insurance listed on the DVC website, I'm confused. The rules on point usage and canceling trips are very clear. How would having trip insurance provide protection for those vacationing on points.

 

[tjkraz]

Illness, injury, death of a family member, weather-related delays, lost baggage...those are just a few of the things that trip insurance typically covers.

Yes, the point usage guidelines are very straightforward. But insurance can essentially help you make lemonade from lemons.

Let's say you break your ankle the day before you are supposed to leave. Per the DVC rules, your points go into holding, cannot be banked and expire at the end of your Use Year (which could just be days or weeks away.) Any airfare that has been purchased is subject to change fees imposed by the airline.

If you have insurance, it helps you cover most of those losses. Without insurance, you're left to fend for yourself.

I have never purchased vacation insurance, mostly because my work and home situation is fairly stable. But if the situation were less stable (caring for ailing relatives, possibility of work or weather-related cancellation, etc.) and/or if the trip in question were particularly expensive (international flights), it would certainly be worthy of consideration.

 

[DVC Mike]

I called today to book BLT for Dec 2011 and they offered me this.

I politely declined.

 

[LOVETHATMOUSE]

I always get trip insurance for every trip we take..better safe than sorry. We know of a couple that never got it, and in the end the husband had to be airlifted off their cruise. BIG money was owed, so for less than $100 I have the peace of mind that if anything went wrong we were covered. I also get the insurance on our points for every DVC trip..for me a few $$ is worth it. If I lose the points b/c we can't get down in time at least all is not lost.

 

[ssawka]

I often wondered this myself! I can totally see getting trip insurance for cruises and international travel, but for DVC trips I'm not all that concerned since you do not "loose" them until you are past the 1 day mark. Now I'm not sure how easy it would be to get a reservation with holding points, but I'm willing to take my chances.

With cruises and international travel you should get insurance since you never know what could happen in another country, or what the medical facilities would be like if something were to happen.

 

[toniosmom]

I always buy the insurance offered by the airline because those tickets are nonrefundable. I have also bought insurance for cruises due to the medical airlift costs, etc.

I have never bought the insurance for my DVC points because of the reasons others have posted -- they will go into holding, etc. However, the new trip insurance is $79 and covers all of it, so I think it may be worth it, especially since it covers a whole year's worth of trips.

Not sure -- what do you all think?

 

[Anal Annie]

We don't ALWAYS purchase trip insurance but often do. Depends on how expensive the trip is for us (flights etc) and the time of year. If trying to fly in the winter for example, it's a good idea. Or if cruising in August during hurricane season etc. Although not traveling on points this summer we will definitely be purchasing trip insurance for our trip to Europe & our Med cruise. Remember what happened last summer with that volcano on Iceland? There were thousands of people stranded all over Europe and many missed their DCL cruises. And as others mentioned there's always the chance of last minute illness or of getting sick while ON vacation. After planning this trip for 2 years and for the amount we'd be out if something happened you can bet I'll insure it.

 

[ssawka]

Not to change the subject, but is the insurance offered through DVC the only valid insurance for points? For a cash reservation, I know you can buy third party insurance, but I was just wondering how third party insurers would view points as a cost?

 

[Mom B]

We have purchased the trip insurance on a couple of trips. It really paid off for us several years ago on a non-DVC trip when we had to postpone the trip for a year due to medical issues, so I'm one of those who feels it's better to have it and not need it, than the other way around. So far we haven't needed it with our DVC trips. This time I opted not to use it, because of the additional expense and trying to keep things under budget. So of course this is the year that everyone in the household is sick with every possible virus we can think of and we are hoping everyone recovers sufficiently to travel this Friday. Hopefully we'll be okay but I am really wondering if I did the right thing this time. Sometimes it's just nice to have the peace of mind for a fairly small amount of money. But we're hoping for the best this time!

 

[AnnaS]

We purchase trip insurance when cruising and leaving the country.

 

[WilsonFlyer]

An interesting thing to note that some may not know...

I booked a trip yesterday that included banked and regular UY points (09 & 10). When she explained the new trip insurance benefit to me, she made it crystal clear that it would be 2x$79 because it was two different UY's points even though it was a one week (consecutive one res number) trip. $158 for ONE TRIP with all those limitations? I don't think so! LOL I also politely declined but I did listen to the speal (sp.?).

In the interest of fairness, I never purchase after-the-fact insurance for anything and never have (not even high-end electronics and I own a lot of them).

One thing is certain. DVC's opinion of a "Big announcement" and my opinion of a big announce vary greatly. This has certainly established that fact beyond a shadow of a doubt.

 

[Anal Annie]

Not to change the subject, but is the insurance offered through DVC the only valid insurance for points? For a cash reservation, I know you can buy third party insurance, but I was just wondering how third party insurers would view points as a cost?

Yes, I think so...insuring timeshares is a little different than regular hotel accomodations - they value them differently. We made the mistake of doing back-to-back cruises a couple of years ago - one on points & one on cash. We had to insure them with 2 different policies. Nobody would insure them together as one trip.

 

[Tiger926]

I started a thread about this yesterday. This new insurance has an interesting exclusions clause - if you buy the insurance before or at time of payment of dues, the exclusions clause is void.

This is a big deal for illness or medical issues. It also covers if you are robbed before your trip, loss of job, etc.

I read through the policy and there are some interesting things in there, Tiger

 

[bobbiwoz]

I've read enough posts from people who pleaded their case to MS and found sympathy and their points returned because of severe last minute health or weather issues. I wonder if now DVC will be more hard-nosed regarding this type of thing.

We take lots of DVC trips, and buy lots of airline tickets each year. I am going to discuss buying the insurace with DH before booking our December '11 trips.

Bobbi

 

[JWG]

I'm assuming (not having read up yet) that the insurance covers all (most) trip related costs (airfare, medical, etc.) EXCEPT point value. If you have to cancel for an insurance covered reason I'm assuming that points are still subject to DVR rules and aren't a part of the insurance package.

But, you'd still save on the other components.

 

[tjkraz]

Yes, I think so...insuring timeshares is a little different than regular hotel accomodations - they value them differently. We made the mistake of doing back-to-back cruises a couple of years ago - one on points & one on cash. We had to insure them with 2 different policies. Nobody would insure them together as one trip.

You can find other companies to insure DVC vacations. Travel insurance is all about risk vs reward. There doesn't need to be any sort of business arrangement between Disney and the insurer. The insurer will assign a value to the trip and then charge a premium based upon their risk tables. Sometimes they will even allow you to participate in that valuation. Bottom line is that the higher the assigned value, the higher the premium will be.

Just make sure that you understand ALL of the terms--values assigned to each vacation component, exact claim policies, etc.

 

[rcchello]

The interesting thing about this trip insurance is that it covers all trips made with the years points you buy it for. It will not cover trips made with banked or borrowed points unless you bought the insurance for those years also.

So, if you buy it every year you will be covered for all trips you make with your point - no matter how many. If you go to Disneyworld twice and a cruise - all three trips will be covered for the same fee.

Much more interesting when you make multiple trips.

 

[DVCSAMNH]

I've read enough posts from people who pleaded their case to MS and found sympathy and their points returned because of severe last minute health or weather issues. I wonder if now DVC will be more hard-nosed regarding this type of thing.

I admit that this is the first thing that crossed my mind when I saw that they were offering this. I would think it would take a while for it to start but I will not be at all surprised to see it happen in six months or so.

 

[BWV Dreamin]

Just a word about that volcano erruption that delayed and cancelled so many cruises...the trip insurance DID NOT COVER THIS. It was considered an act of God.....

We don't ALWAYS purchase trip insurance but often do. Depends on how expensive the trip is for us (flights etc) and the time of year. If trying to fly in the winter for example, it's a good idea. Or if cruising in August during hurricane season etc. Although not traveling on points this summer we will definitely be purchasing trip insurance for our trip to Europe & our Med cruise. Remember what happened last summer with that volcano on Iceland? There were thousands of people stranded all over Europe and many missed their DCL cruises. And as others mentioned there's always the chance of last minute illness or of getting sick while ON vacation. After planning this trip for 2 years and for the amount we'd be out if something happened you can bet I'll insure it.

 

[KAT4DISNEY]

I'm assuming (not having read up yet) that the insurance covers all (most) trip related costs (airfare, medical, etc.) EXCEPT point value. If you have to cancel for an insurance covered reason I'm assuming that points are still subject to DVR rules and aren't a part of the insurance package.

But, you'd still save on the other components.

It does cover your point value. At what amount though I am not certain. It might be for your dues.