Renting points - Insurance?

[ClaraOswald]

Thinking about using a site like David's to try to rent a villa for our next stay at The Grand Californian. (We are still a year or so away from deciding to purchase a contract or not.) Because you can't cancel at all...has anyone here used a site like this and then purchased trip insurance? Considering getting it in case one of us or a close family member were to get sick and we'd need to cancel.

Thoughts? Suggestions?

 

[SL6827]

Haven't heard of but one and I couldn't tell you who it was. This is the exact reason I won't rent points. It sucks too. I can't take a chance on a good amount of money.

 

[nw6675]

Yes. Bought a John Hancock policy with a cancel for any reason provision. No problem with it covering the points.

 

[SL6827]

I would like to hear from anybody that actually had to file a claim with insurance. I might look at John Hancock though.

 

[nw6675]

I would like to hear from anybody that actually had to file a claim with insurance. I might look at John Hancock though.

I did file a claim and they paid without an issue. Sorry I wasn't clear in my post.

 

[ClaraOswald]

The David's site has a link to a site called TravelInsurance.com and the prices seem reasonable. Sounds like if it's a medical reason for cancellation you just need a doctor's note. But that sounds almost too easy...?

 

[AnnaKristoff2013]

Thinking about using a site like David's to try to rent a villa for our next stay at The Grand Californian. (We are still a year or so away from deciding to purchase a contract or not.) Because you can't cancel at all...has anyone here used a site like this and then purchased trip insurance? Considering getting it in case one of us or a close family member were to get sick and we'd need to cancel.

Thoughts? Suggestions?

Every time I’ve looked into this I’ve come to the conclusion that you run a very high risk that trip insurance would not pay out because of the nature of the transaction. I know have yet to hear a reliable anecdote from anyone ever who has had to cancel a rented points trip and was successfully able to put in a claim with a travel insurance company. This is one of the primary reasons I ended up just buying DVC instead of renting.

 

[MillauFr]

I wouldn't bother with the insurance. I would just self insure in case I had to cancel. In my mind buying insurance is just flushing money down the toilet. I only buy insurance on things that would cause me to declare bankruptcy. To each their own.

 

[AnnaKristoff2013]

I did file a claim and they paid without an issue. Sorry I wasn't clear in my post.

Link to the insurance company? You’re the first person I’ve ever heard of who’s been successful in filing a claim with rented points.

 

[nw6675]

David's gave me documentation that showed it was nonrefundable and that's all I needed. I filed under the CFAR provision so no medical documentation, etc. was needed. I'm sure if you Google John Hancock travel insurance you'll find it without issue.

As with anything, YMMV. Just sharing my positive experience.

 

[ClaraOswald]

Every time I’ve looked into this I’ve come to the conclusion that you run a very high risk that trip insurance would not pay out because of the nature of the transaction. I know have yet to hear a reliable anecdote from anyone ever who has had to cancel a rented points trip and was successfully able to put in a claim with a travel insurance company. This is one of the primary reasons I ended up just buying DVC instead of renting.

I mean..spending $3000 (plus some insurance) to rent once in a while is a lot different than shelling out $40,000 plus annual dues. So not really sure how those compare in this instance.

I wouldn't bother with the insurance. I would just self insure in case I had to cancel. In my mind buying insurance is just flushing money down the toilet. I only buy insurance on things that would cause me to declare bankruptcy. To each their own.

What do you mean by self insure?

Losing $3000 on a vacation certainly wouldn't cause me to declare bankruptcy but it's a lot of money to lose if it can be avoided. Do you have any personal experience using travel insurance? That's the kind of advice I'm looking for here.

 

[CarolynFH]

Thinking about using a site like David's to try to rent a villa for our next stay at The Grand Californian. (We are still a year or so away from deciding to purchase a contract or not.) Because you can't cancel at all...has anyone here used a site like this and then purchased trip insurance? Considering getting it in case one of us or a close family member were to get sick and we'd need to cancel.

Thoughts? Suggestions?

I think that as long as you have a contract or other document that states you paid $xxxx, non refundable, for accommodations, you’d be reimbursed by travel insurance as long as your reason for cancellation was covered. Back in 2020 when renters were canceling due to COVID-19, I’m sure I read more than one report of successful claims by renters who couldn’t travel. Just be sure that whatever trip insurance you buy covers the reasons you need to cover.

We haven’t insured a points reservation (so not really relevant to your question) but did successfully file a claim for a trip cancellation due to a family member’s surgery. The coverage was via the credit card we used to buy the trip.

 

[MillauFr]

I mean..spending $3000 (plus some insurance) to rent once in a while is a lot different than shelling out $40,000 plus annual dues. So not really sure how those compare in this instance.



What do you mean by self insure?

Losing $3000 on a vacation certainly wouldn't cause me to declare bankruptcy but it's a lot of money to lose if it can be avoided. Do you have any personal experience using travel insurance? That's the kind of advice I'm looking for here.

First I would use the Chase Sapphire Reserve credit card to book your trips. They have excellent travel insurance benefits. Other than that I would forgo additional travel insurance and save that money in a separate account. In other words you are the insurance provider.

 

[ClaraOswald]

I think that as long as you have a contract or other document that states you paid $xxxx, non refundable, for accommodations, you’d be reimbursed by travel insurance as long as your reason for cancellation was covered. Back in 2020 when renters were canceling due to COVID-19, I’m sure I read more than one report of successful claims by renters who couldn’t travel. Just be sure that whatever trip insurance you buy covers the reasons you need to cover.

We haven’t insured a points reservation (so not really relevant to your question) but did successfully file a claim for a trip cancellation due to a family member’s surgery. The coverage was via the credit card we used to buy the trip.

Thank you, that's very helpful. I imagine the only reasons we would need to cancel would be illness/death in the family/another shutdown like Covid. I'll have to see if my CC offers anything like that.