Insurance question from Prospective SSR buyer

[golfmaven]

Has anyone requested a copy of the insurance policy (ies) covering DVC or know anything about their insurance coverage?

Specifically, does anyone know whether owner/members can be party/responsible for a liability claim made against DVC (i.e., someone's kid drowns in a pool and sues DVC and its "owner/members")?

Do the physical structures themselves have separate hurricane insurance and, if so, if there is a hurricane deductible?

 

[lenshanem]

bumping

 

[KyBill]

I don't know what coverage we have, but I have been in the Property, Liability insurance for 40 years. I'm sure DVC carries adequate coverage on the properties. As the management firm they are required to perform these duties. Also Florida Condo law has quite a bit to say regard to Director's responsibilities regard to insurance and reserves. They should also have Directors and Officers Liabilty coverage.
I could not forsee any liability exposures for us owners of timeshares.
As to hurricane coverage. Florida insurance coverage is different than other areas, especially since hurricane Andrew. Normal property insurance covers wind damage. In Florida they can have very high required deductibles. In some policies there are wind exclusions. I'm sure that DVC and Disney have have Risk Managers that evaluate all their risks and protect themselves and us accordingly.
I would say we are "In Good Hands" but probably not with Allstate. LOL.

 

[BillPA]

I recall that in case of storm or fire damage, DVC has a $25,000 deductable, that the owners may have to share, based on the % of the building they own. This was on the original paperwork for OKW back in '93 I assume it is still the same or very close. Also if your building is damaged, you cannot use you points at another location. If someone has their paperwork near by they can check on this. It's been over 10 years, so those memory cells are just about shot by now. So my .2% ownership in OKW building 27, could cost me $50.00, I can deal with that, but not being able to use my points would be hard to handle.