I know this is a horrrible question.......

[PamOKW]

Disneyberry, the insurance is purchased by DVD and the price is included in our yearly maintenance.

 

[DebbieB]

I work for a Commercial Insurance Company. War and Nuclear Hazard are standard exclusions on Commercial Policies. It was ruled in the WTC case that Terrorism does not meet the definition of war and would have to be excluded separately. I don't know how WDW works their insurance, but my guess is that it is insured through a group of companies. That is how the WTC was insured. A big court case right now is if the WTC was one occurrence or two under insurance. If it is ruled two occurrences, the owner can collect twice the amount (I believe it's $7 billion vs $3.5 billion).

 

[TheRustyScupper]

1) Typical Insurance exclusions (not a total list):
. . . Acts of War (declared or undeclared)
. . . Self-originated (arson, sabotage, deliberate damage etc)
. . . Nuclear accidents (military)
. . . Nuclear (power, but plants may be sued in some instances)
. . . Flood (must buy separate Federal flood insurance)

2) Terroism
. . . Was included on some policies as an act of others.
. . . Was excluded on other policies as act of undeclared war.
. . . Recently has been an exclusion (since 9/11) on many policies.
. . . Terrorism is now a separate rider with most companies.

3) DVC: (in cases of building or total resort destruction)
. . . If covered by insurance, they would have to rebuild.
. . . If not covered by insurance they are not obligated to rebuild.
. . . If they rebuild, your points have value.
. . . If they do not rebuild, your points are worthless and no value.
. . . If you loose value, you still have to pay off any balance.

4) Your Options
. . . We have deeded tiemshares and catastrophic insurance.
. . . This covers our investment if the timeshare does not rebuild.
. . . Do not know if this is possible with DVC.
. . . DVC is a deeded insterest, but not deeded property.
. . . Check if you have an "umbrella" policy; it might cover.

 

[GrammieMame]

I have also thought about this from time to time. I read somewhere that the Arab League (don't know when) actually issued an anti-Disney statement because they found Disney movies' depiction of Arabic people offensive. Alladin and another movie with Steve Martin where a Middle Eastern person was stereotyped were specifically mentioned. But what are we to do? Stay locked up in our houses for however many years it takes to lock up the terrorists. We would be locked up as well, indefinitely. Not for me.

 

[disneyberry]

Originally posted by PamOKW
Disneyberry, the insurance is purchased by DVD and the price is included in our yearly maintenance.

okay, phew. i was hoping it was included in the annual maint dues. otherwise, i'd have to start looking for another insurance policy to cover DVC.

i would be interested in finding out exactly what is covered by the policy DVD uses though. is this outlined in the member guidebook or public offering statement?

i agree, that it seems most insurance policies don't cover acts of war or terrorism.
i'm not sure there's much to be done about that though...

 

[DebbieB]

It is listed in the Public Offering Statement. They have to cover property at 100% replacement cost.

My guess is they have terrorism included on their policy or bought a separate policy. These days they couldn't leave themselves open for that. I have never heard of any company writing a policy for war or nuclear, it is too much of a catastrophic exposure.