DVC cancelling trip policy?

[lovinpoohbear]

I am thinking of buying into AKV, actually most likely too in the upcoming month =) But I was thinking of something, All of my WDW vacations, I always purchase the cancellation insurance. Just in case someone gets sick. How does this work when using points? What if DS became ill the day before we left? Can I still buy insurance or do I lose all of the points? Thank you!

 

[Disney Spaz]

We are new members too so I can only give you a little idea. there is an insurance policy offer that you can buy that covers I believe $5 per point if you have to cancel. It also covers some other things but I am not sure.

 

[Deb & Bill]

The insurance policy available for DVC members using points will pay $5 per point used, but you have to meet the terms of the insurance. If you have to cancel 30 days or less out, your points go into holding and can only be used 60 days out to make another reservation. And they have to be used by the end of the use year.

If you cancel 31 days or more, your reservation is just cancelled and you can use or bank the points (if they weren't already banked, if they weren't borrowed and you are more than four months out from the end of your use year).