Banking Deadline / Travel Insurance

[DVC Grandpa]

Now that the new banking deadline is in place, travel insurance might be the only safeguard for those who travel during the last four months of there use year. We normally travel in November or January-February with a UY of February. If for any reason a November or January trip has to be cancelled prior to the four month deadline, we would be "out of luck" without the travel insurance. Under the old system we could salvage 25% of the points if done so prior to November 30. Now, I wonder if the cost of insurance will go up, everything else has.

 

[eva]

Did you take out insurance when you went in January before?

 

[DVC Grandpa]

Did you take out insurance when you went in January before?

No, but things health wise have changed since we stayed for any length in January.

 

[DebbieB]

I think DVC needs to look at the reimbursement rate for the travel insurance. It's $5.00 per point and at many resorts that is not even covering dues anymore.

 

[eva]

I think DVC needs to look at the reimbursement rate for the travel insurance. It's $5.00 per point and at many resorts that is not even covering dues anymore.

I definitely agree with this one. This is the first time I have ever used the insurance. But since our upcoming trip is costing nearly 800 points I decided it was time to use it. We are using a lot of our Vero points for this trade through ABD. So the $5.00 doesn't even cover the dues for those points. Our BCV points are getting close too. I think it is time to raise the insurance to at least $6.00, probably $7.00 per point.

 

[bobbiwoz]

I definitely agree with this one. This is the first time I have ever used the insurance. But since our upcoming trip is costing nearly 800 points I decided it was time to use it. We are using a lot of our Vero points for this trade through ABD. So the $5.00 doesn't even cover the dues for those points. Our BCV points are getting close too. I think it is time to raise the insurance to at least $6.00, probably $7.00 per point.

I agree about the insurance pay back. I have already composed a letter to mail to DVC. We have taken the insurance for large point trips, and have a trip in June that we will buy the insurance again for.

Bobbi

 

[CarolMN]

As long as the cancellation is more than 31 days in advance, you would still have the option of renting a reservation or transferring the points.

I agree that the insurance values are too low - we self insure because of it. So far, we are ahead of the game by doing that.

 

[DISNEY FIX]

I agree that the insurance values are too low - we self insure because of it. So far, we are ahead of the game by doing that.

What is self ensure and how do you it?
Thanks

 

[CarolMN]

What is self ensure and how do you it?
Thanks

It just means we don't buy the insurance and accept that if we have to cancel, we "eat" the points or the cost of the airfare or anything else that is not refundable.

We did buy travel insurance when we went on our cruise to Alaska - (not through DVC). The price of the cruise for our family was more than I felt comfortable "losing" and I also wanted to make sure we had medical coverage if something happened when we were in Canada (our regular medical wouldn't cover us outside the US).

Anyway, for our WDW trips, I am OK with losing the points (or having to pay a change fee for the airfare) in the unlikely event we can't go at the last minute. The $$ amounts are relatively small (compared to the Alaska cruise). By "self-insuring", even if we occasionally "lose" points of $$ due to a last minute cancellation, we have already "saved" enough to cover it by not buying the insurance.

 

[drag n' fly]

Interesting thread. We live in Canada and would never consider getting on a plane without medical/cancellation insurance. We even make sure we have extra insurance when we travel out of province. It is interesting that it is cheaper to self insure than buy insurance for travelling domestically down in the US. I guess it depends where you are coming from in the US also. Obviously you are not going to travel from LAX to MCO without some sort of insurance. If it is a easy drive the CC may cover it.

 

[eva]

The cancelation policy is completely different with ABD. If we canceled just the day after making the reservation, we would lose 54 points per person. By 90 days out you lose it all. We also took out the medical coverage, since we will be in Italy.

 

[Inkmahm]

It just means we don't buy the insurance and accept that if we have to cancel, we "eat" the points or the cost of the airfare or anything else that is not refundable.

We did buy travel insurance when we went on our cruise to Alaska - (not through DVC). The price of the cruise for our family was more than I felt comfortable "losing" and I also wanted to make sure we had medical coverage if something happened when we were in Canada (our regular medical wouldn't cover us outside the US).

Anyway, for our WDW trips, I am OK with losing the points (or having to pay a change fee for the airfare) in the unlikely event we can't go at the last minute. The $$ amounts are relatively small (compared to the Alaska cruise). By "self-insuring", even if we occasionally "lose" points of $$ due to a last minute cancellation, we have already "saved" enough to cover it by not buying the insurance.

Same here. I wouldn't consider insurance for a DVC trip but I definitely purchased it for our Alaska land/cruise trip in August.

 

[Inkmahm]

Obviously you are not going to travel from LAX to MCO without some sort of insurance.

Why? I fly around the US all the tiem without travel insurance.