Dvc insurance (Travelex) questions..

[dis2cruise]

I was in the phone with DVC purchasing insurance but they are not giving me a straight answers or they just don’t know the answers ...

So lets say you need to cancel due to illness...

1. Is my airfare covered?

2. Do you receive your DVC points back into your account or receive cash for your points.
If it is cash what value do they give you does it depend on the resort?

Weird they couldn’t answer these questions...

 

[erionm]

1. Is my airfare covered?

Non-refundable expenses are covered. If your airfare is refundable, it will not be covered.

2. Do you receive your DVC points back into your account or receive cash for your points.
If it is cash what value do they give you does it depend on the resort?

If you file a claim, you will not get your points back. You will be reimbursed the maintenance fees for those points.

 

[dis2cruise]

I’m sorry but what does it mean to reimburse the maintenance fees?

 

[erionm]

I’m sorry but what does it mean to reimburse the maintenance fees?

Instead of giving you back the points, they give you cash equal to the amount of dues paid on the points used.

If the room required 100 points and your dues were $6.00 per point, you would get $600 and forfeit those 100 points.

 

[dis2cruise]

Oh ok thanks!

 

[Carol Cargile]

Instead of giving you back the points, they give you cash equal to the amount of dues paid on the points used.

If the room required 100 points and your dues were $6.00 per point, you would get $600 and forfeit those 100 points.H



Really? Is that it? I don't understand why anyone would bother with the insurance. It's obviously nothing like getting "replacement cost value"

And what about the meal plan????? Would that be reinbursed???

 

[Dean]

I was in the phone with DVC purchasing insurance but they are not giving me a straight answers or they just don’t know the answers ...

So lets say you need to cancel due to illness...

1. Is my airfare covered?

2. Do you receive your DVC points back into your account or receive cash for your points.
If it is cash what value do they give you does it depend on the resort?

Weird they couldn’t answer these questions...

It's because it's not a DVC product but a company they contract with. Here are the details https://disneyvacationclub.disney.g...ing/travelex/DVC_Travelex_Brochure_012418.pdf and https://www.travelexinsurance.com/policy/?plannumber=SDVC-1217 . One of the problems is the rules might change slightly from year to year, I know Marriott's has. As a rule I'm not a big fan of this type of insurance as the cost for risk is not reasonable just like extended warranties. But if you have a higher risk situation or more points, there are circumstances where it makes more sense. One point to note is that the 7 people traveling with you don't have to be the same ones if you have multiple trips.

 

[Donna M]

My understanding is that it covers the whole year, not just a single trip. We got it to cover a cruise paid with points. It was for the travel if there was a problem.

Interestingly, we have only gotten insurance once for a WDW trip out of the 14 years we have been going. That was the only time we have needed it (job loss), and we recouped $2000 for airfare for eight.

 

[Firepath]

If your trip used points from more than one use year, you need coverage for each use year, so potentially three, if you used current, banked, and borrowed points.

 

[suebeelin]

How much is the insurance per use year? We may need it this year....

 

[Donna M]

We paid $80 for a 4 day cruise for 2. I would think it would vary quite a bit.

 

[Dean]

How much is the insurance per use year? We may need it this year....

IIRC it's $99 according to the brochure PDF.

 

[luvthatdisney]

Hate to tag on, but did not want to start another thread just to get clarification on the same topic.

We have our Welcome Home trip booked for October 2019. I want to purchase the travel insurance, but not sure how to do it when half of our trip is our 2018 banked points (Aug UY). Are those still considered 2018 points? Would I need two policies to cover all of the points? I am getting myself terribly confused. I know the travel insurance company website asks the year of the points so I was not sure what to put. I would like to cover the maintenance fees for all of the points I am using, but did not know if 2019 "year" would include my 2018 banked points.

Want to be sure before I spend money on the 2018 policy if I do not need to.

Thanks guys!!!

 

[Donna M]

I think you would need two policies from what I remember because of the two use years. Call MS, they can answer your questions.

 

[Dean]

I think you would need two policies from what I remember because of the two use years. Call MS, they can answer your questions.

Or do a non DVC policy potentially.

 

[Donna M]

Or do a non DVC policy potentially.

Where do you get that info? The policy we had was to get money back when using points.

 

[Dean]

Where do you get that info? The policy we had was to get money back when using points.

Not my area of expertise but there are other packages for different insurance companies, I'm sure there are some here a lot more knowledgeable that I am on this subject or you may wan to ask on TUG (Timeshare Users Group). As a rule I'm not a believer for the average situation but when you can get a large economy of scale, it can make more sense. Some cover 365 days rather than a calendar year. You might look at:
https://insuremytrip.com/
https://www.squaremouth.com/
to compare.

 

[luvthatdisney]

Wanted to pop back in and update that I did contact Member Services. I asked if I would need two policies to cover our 2018 banked points and 2019 points we are using on our upcoming October 2019 trip. I was told that yes I would need two policies. He did mention that you need to look at the amount of maintenance fees paid for each UY to see if the premium paid would really be worth the return if the policy is used. This was discussed as we did purchase our points direct in 2018 and paid pro-rated maint. fees on those points. Our out of pocket in fees on those points was very small and any refund after the premium really would not be cost effective. Something I had not even though of.

Thanks for all of the responses!!

 

[DebbieB]

I would consider it more if the trip was at the end of your use year and there would be no time to reschedule.

People think of insurance for having to cancel a trip. One circumstance where it can be valuable is if you need to extend your trip and have additional expenses. Or leave early and lose ticket value.