While the charge is nominal, so is the protection and reimbursement. It does have to be for covered reasons that were not in place prior to when you took the insurance. The reimbursement was still at $5 per point last I heard. Assuming one choses a favorable UY, you're really only buying insurance for 30 days as anything 31 days or earlier would have little risk from a DVC standpoint. I don't do insurance for timeshare stays including exchanges or for cruises as a rule. But one's personal situation might dictate the risk involved for a given trip and group and thus the reasonableness of said insurance. Just remember it's cheap for a reason.Sounds like it is so inexpensive..I called and they said for 4 people traveling it is something like $52 or so for all 4 for 200 points...Of course, cancellation would be for a "covered" reason like illness of people traveling, illness of relative, etc.
Added protection in my mind..They said they "work" with Member Services on point value..I tried to "pin" them down and they said something like $5 per point..Well that I know is really really low, but on say 200 points which had to be cancelled, that is $1,000 reimbursement..That almost pays in most cases dues for the year at least, at a bare minimum.
Then to the best of my knowledge, if you cancel anywhere between 30 days and 1 day before arrival, points are put in holding account..Reservation cannot be made before 2 months of arrival and holding points must be used before current use year expires.
I would think $52 is pretty nominal outlay for unexpected illnesses or covered reasons for family members...
A "covered reason" from Travelguard Gold Plan Trip Insurance is having to cancel a trip for a work related reason..Another words, if you are expected to take a trip and your employer requires you to work during that time, that is a "covered reason"...In their plan, also if you have been working full time for more than 1 yr and you get laid off from your position, that is also a "covered reason". In both cases, you would need to submit documentation from employer for reimbursement!
We are using Travelguard for our upcoming trip for that very reason!
Wow, I just did a quote on their site. That's an expensive policy. I've decided to stick with the policy available through the member web site. No, it doesn't cover every cancellation reason, but it's enough coverage for the things that would be most likely to occur for us. I also like that it's one premium to cover the entire use year, and not a fee for each trip anymore.
Bill
