Rented my points - what about travel insurance?

[abamick]

Hi all,

I rented out my points this year and one of the "renters" is asking about travel insurance. Have any of you dealt with trip insurance before? Specifically, what is the travel insurance company going to want from me?

Thank you in advance for your help,

Allison

 

[WebmasterDoc]

The travel insurance offered thru DVC will pay about $5 per point for covered claims. You should have received a brochure about the service with your confirmation letter which you can pass along to your renters. There may also be some other sources they could secure themselves. Personally, I would stay at arms length from any involvement with insurance for your renter and simply provide them some information they can pursue on their own. Hopefully, you have a no refund policy in the event they cancel the reservation.

Good luck!

 

[abamick]

Doc,

The terms are 1/2 of the total amount (non-refundable) paid when they get the confirmation number from me. The other 1/2 (non-refundable) is due 90 days before their check-in. The renters are telling me that the insurance company is asking when my penalty period is. I guess I'm not sure exactly what they need. Any ideas?

Thanks,
Allison

 

[Deb & Bill]

Doc,

The terms are 1/2 of the total amount (non-refundable) paid when they get the confirmation number from me. The other 1/2 (non-refundable) is due 90 days before their check-in. The renters are telling me that the insurance company is asking when my penalty period is. I guess I'm not sure exactly what they need. Any ideas?

Thanks,
Allison

I guess your penalty period starts as soon as you receive the first half payment. Or at the latest, 90 days before the start of the trip. They don't receive anything back at all once you have received payment.

 

[WebmasterDoc]

Doc,

The terms are 1/2 of the total amount (non-refundable) paid when they get the confirmation number from me. The other 1/2 (non-refundable) is due 90 days before their check-in. The renters are telling me that the insurance company is asking when my penalty period is. I guess I'm not sure exactly what they need. Any ideas?

Thanks,
Allison

"Your" penalty period may be 31 days before arrival - or it could be the last 4 months of your Use Year (when you could no longer bank points). I think I'd give them whichever is earlier in your Use Year. If the reservation falls within the first eigth months of your Use Year I'd give them the 31 days before date and if it falls in the last 5 months, give them the end of the 8th month.

It sounds as though you have protected yourself with the non-refundable due dates for payment so you should be OK with either response and but the renter's penalty period is when they send any non-refundable payment and they will be a lot safer to not cancel (which is true for most all rentals).

Good luck!

 

[Jacky]

There is a company called Travel guard-- google it. They have lots of travel insurance---- to cover your "renters"

Jacky