Strange Question

[Marie17]

Since these are timeshares ... what assurances do you have from Disney "just in case something happens" to your investment? Let's say a hurricane hits and damages your "property" - is everything easily convertible to another property or are you allow to "bank" your points until your home property is fixed?

I know that Disney has rarely seen tremendous damage from a hurricane - but what if it was a tornado? I don't know if you have some sort of insurance policy for the time missed????

Weird question - I know.

 

[Chuck S]

The resorts themselves are insured. If a disaster completely devastates a resort, and it is deemed to be pointless to rebuild, the insurance, after expenses, will be divided amongst the owners at that resort and they will no longer be DVC members.

If a resort is temporarily closed, there are several possibility. If it is a short closure, like the VB closure a couple years ago, the owners could continue using their points anywhere they wished, or could bank them. If itis a prolonged closure, DVC has theright to temporarily suspend the membership, this has neve been used. In fact, they even have the right to suspend your membership or distribute the insurance if the individual building you own the points in is destroyed, but the rest of the resort remains open.

If a building is severely damaged, but is deemed worth re-building, if the insurace and available gov't disaster funds do not cover the cost, there can be a special accessment to those members.

 

[salmoneous]

Think of it as buying any other property. The DVC resorts buy insurance to cover damange due to hurricanes and whatnot. But if, say, a giant hole in the earth opened up and swallowed the resort, land and everything on it, Disney doesn't "owe" you a vacation somewhere else.

 

[mj2vacation]

DVC is much better situated than other timeshares in that you can bank points.