Rental protection?

[Solomani]

Hello,
I am interested in renting points.............. however one thing that's worrisome is there seems to be no "renter protection". For example if I rent X points and need to cancel (doubtful, but 12m is a long time) I end up losing my money. Since I want to stay for 14 days that's quite an expensive proposition.

Is there any insurance or advice for this type of protection? Basically against cancellation etc.

 

[bakenatj]

I know the owner can get insurance on the points, but I'm not sure how that would work. Maybe others that are familiar with the policy on that insurance for points works. If you really want to insure ask the owner of the points to purchase the insurance and of course you will have to pay for it.

Make sure you understand how DVC system works before you get to serious. It is not like a hotel reservation. There is a lot of risk for the owner to rent their points out. Also make sure they have a contract so you have everything spelled out before you make the transaction.

 

[maburke]

I don't think the owner's insurance would be transferable like that, and it only pays for the MF's for the points. I'd look into regular travel insurance options and see if any of them would cover cancellation. Though the fact is, renting (or using DVC, for that matter) is just not as flexible as other options. It might not be a good fit.

 

[Brian Noble]

if I rent X points and need to cancel (doubtful, but 12m is a long time) I end up losing my money

That's one of the reasons a point rental ends up being less expensive than renting directly from Disney. You are taking on some of the risk of a change in plans yourself. Most owners won't be willing to do that.

Is there any insurance or advice for this type of protection? Basically against cancellation etc.

It depends on the reason you have to cancel. For example, most travel insurance policies will cover you if a member of your travel party falls ill or is injured and can't travel. However, almost no one will write a policy that covers you if e.g. that turns out to be a bad time to be away from work. Some (but not all) will cover you if you lose your job. MouseSavers has a short write-up on this: http://www.mousesavers.com/walt-dis...y-world-vacation-package-discounts/#insurance

If you want to go this route, you will want to rent from someone who has a clearly-defined set of policies in the rental agreement, stating when payments are due and when they become non-refundable. That sort of documentation will be important if you have to make a claim against any policy you purchase.

 

[Solomani]

Thanks all. I think I will stick with using Disney directly and just eat paying extra to play it safe.

 

[taaren]

Try looking at something like www.insuremytrip.com, and plug in the price you want to pay for a DVC rental/plus your other travel expenses. Some policies have a "cancel for any reason" clause but it is more expensive. If you have a contract and have to cancel, then potentially travel insurance could cover the rental cost.

 

[Solomani]

Try looking at something like www.insuremytrip.com, and plug in the price you want to pay for a DVC rental/plus your other travel expenses. Some policies have a "cancel for any reason" clause but it is more expensive. If you have a contract and have to cancel, then potentially travel insurance could cover the rental cost.

Thanks for the info

 

[sweetdana]

What about booking direct, n about 2-3 months out. See if a room is available 2 rent. Option 2 buy a small 25 point contract n transfer others poi to in. Though mine isn't 25, this is what I do. I transfer in enough at the resort I want for that yr, then I am in charge of the rental. An change. Add dinning, lose/add a day based in air fare w/o. Bothering someone else. IMO. This is he best kept secret