Just Wondering re Trip Insurance and..

[Wendybird55]

Renting DVC points.
I am posting here because the renting board seems to be mostly for listing and asking for points.

I am renting points for the first time this year (we did it thru a friend). We leave Aug 31!!!

Anyway, DH was talking with someone he knows and finds out that this person is also a DVC member with alot of points and told DH he usually rents some of them and if we're ever interested to ask. So there may be mroe renting in my future.

So..here's my question. I like to book trips in advance and with using DVC points I know the sooner you book the better to get your first choice.
I also know once I rent points the money is spent (which I totally understand). Yes, if I need to change the dates and the DVC member can do it without much hassles that may happen.

But what happens in the case of an unforseen emergency?
Has anyone ever or been able to take out trip insurance (from a seperate company) for a WDW trip that used rented points? I know the trip insurance should cover my airfare, park tickets, etc. but what about the cost of renting points?

I'm just curious - has anyone every tried this? Does it sound like a reasonable thought? I was thinking if there's a legitimate last-minute emergency and I can't make a vacation that I used rented points for, I dont' expect the DVC member to give me back the money at the last minute - after all it is a business transaction. But would trip insurance cover it? Just a crazy thought..

 

[GoofItUp]

I wondered this, too, since I'm renting points for the first time.

Anyone??

 

[Blahnde]

There are two things I know:

1) WDW trip insurance only insures the OWNER, not renters.
2) I have had 2 renters (1 Canadian, 1 American) purchase trip insurance from a separate company.

In order for the policy to cover the funds they paid for renting points from me I needed to provide an invoice for them to give to their broker; I use PayPal invoices for all transactions anyway so it was not a big deal. Neither used the coverage, but it did provide them with peace of mind had something unforseen happened.

I suggest you ask your broker what would and would not be covered and what they need from you to create a policy, and then decide if it is worth it to you.

Blahnde

 

[DebbieB]

Even if available to renters, DVC trip insurance really wouldn't do you much good because it only reimburses $5 per point, which is ridiculous. Doesn't even cover maintenance on the lost points when you deduct the premium.

 

[JimMIA]

Travel Guard (www.travelguard.com) will write trip insurance for people who rent DVC reservations from an owner. It's basically the same thing as insuring a ski trip where you are staying in a condo you're renting from someone. They also happen to be the same company that writes the $5 per point insurance for us, but for renters, they will insure any non-reimburseable costs if a vacation is canceled or modified because of certain covered risks (mostly health-related and travel disruption).

Travel Guard is one of the biggest companies in this field and I have used them numerous times for trip insurance on non-DVC vacations. I've had to file claims twice (both times when DW's parents' medical issues caused us to cancel), and they were great to deal with. I have not used them for points reservations, for the reasons Debbie cites above, but for regular trips, I recommend them highly.

With trip insurance, you have to be an informed consumer. You need to understand what coverage you are getting, and what kinds of things the insurance will cover. Also, most trip insurance has to be purchased pretty quickly after you make your first reservations. There's no waiting until the end and then buying insurance when you think you'll have to cancel.

So do your homework before buying trip insurance.

 

[Wendybird55]

Thanks for the replies everyone - they are very informative and at least now I know I can probably find trip insurance for future rentings - as PP said, I just need to read the small print. Again, this would only be for any unforseen medical or personal emergency. I know all insureacnes are very specific on what they cover.

Thanks again.

 

[Deb & Bill]

Renting DVC points.
I am posting here because the renting board seems to be mostly for listing and asking for points....Yes, if I need to change the dates and the DVC member can do it without much hassles that may happen......

I think you meant the member CAN'T do it without much hassles that may happen. They might not be able to change it at all.