Those that are renting DVC points, did you buy travel insurance for Covid?

[DisneyNOVA1]

We are considering renting DVC points for a spring trip, but I'm nervous with it being "non-refundable". Covid seems to be increasing and it seems inevitable that the kids will get it at some point being in school. I was thinking our travel credit card's travel insurance would cover everything, but it looks like they don't cover anything for covid. If you rented points and are traveling soon, what are you doing?

 

[DLgal]

I don't think there are any travel insurance offerings that will cover rented timeshare points where you exchange money directly with an owner. If you rent points through a company, like Dave's, sometimes the company will offer "insurance" that will reimburse you a portion of what you paid (but not 100%). Its the reason why I won't consider renting points right now.

 

[houseofduck]

Although I did not purchase it, I did inquire about travel insurance for a DVC rental done directly through an owner. I was told by a travel insurance company representative that as long as there was a contract showing the rental total and proof of payment, the rental would be covered. At that time (about a year ago), the travel insurance policies were not covering losses due to COVID.

I would have to look it up to see which company, but I did a search on one of the travel insurance comparison sites and called one of the companies.

 

[_19disnA]

I would make sure to read the fine print to see what any type of 'insurance' does/does not cover. Get things in writing and don't go by what someone on the phone tells you. Later on they can simply deny what they previously said or that you misunderstood them. If you choose not to travel since you think covid makes it unsafe would likely be a different situation there where your travel destination is closed by local officials as a result of covid.

Anyone selling insurance is running a for profit business and intends to collect more in premiums then they payout. Rates are set based on what their expected risk is and how much they expect to payout.

 

[DLgal]

I would make sure to read the fine print to see what any type of 'insurance' does/does not cover. Get things in writing and don't go by what someone on the phone tells you. Later on they can simply deny what they previously said or that you misunderstood them. If you choose not to travel since you think covid makes it unsafe would likely be a different situation there where your travel destination is closed by local officials as a result of covid.

Anyone selling insurance is running a for profit business and intends to collect more in premiums then they payout. Rates are set based on what their expected risk is and how much they expect to payout.

Yes! You need to comb through ANY travel insurance contract. The people on the phone will straight up lie to make a sale. In all my searches, I could not find ONE travel insurance provider that would cover a "peer to peer" timeshare rental. Not one. They are explicitly excluded. Probably because it would be way too easy for people to collude and files claims fraudulently.

 

[gregskellington]

To echo what others have said, I've never heard of anyone being paid out for something like this, even though tons of people recommend insurance for rentals.

 

[BamaGuy44]

Most travel insurance policies specifically mention pandemics as an exclusion they won't pay out on, and peer to peer transactions like rentals are rarely if ever covered. I doubt you'll find anything that will cover a COVID related cancellation. Insurance companies would be crazy to offer it. It would be so expensive nobody would want it. The point rental service associated with the board offers some levels of refunds on cancellation, but at a higher point cost.

 

[Brett Wyman]

We rented points for years and loved it. But with Covid its definitely a risky proposition. Are you AP holders? Sometimes room discounts from Disney can get very close to rental costs with the full benefit of cancellations.

Another option is to rent from an owner directly and come to an agreement about rescheduling if needed.

 

[DisneyNOVA1]

We are looking at booking with the DVC Rental Store (not a person), so I think the travel insurance would cover it since through a company. I did a search online and it looks like TravelEx insurance covers Covid in their policy. Anyone used/heard of it? Thoughts?

 

[Brett Wyman]

We are looking at booking with the DVC Rental Store (not a person), so I think the travel insurance would cover it since through a company. I did a search online and it looks like TravelEx insurance covers Covid in their policy. Anyone used/heard of it? Thoughts?

I wouldn't believe it unless the travel insurance company puts that explicit reason in writing on your policy.

 

[gregskellington]

I would be so careful about this. I am quite sure the insurance company will still consider this peer to peer. I see a zero percent chance you get reimbursed the cost of points by anyone other than what the rental company may offer you.

Is renting really worth it with your level of concern and everything going on? I love DVC resorts but I would just stay cash somewhere I know I have an out for. Again, I have never EVER seen any evidence that travel insurance paid someone out for point rentals. I can't imagine you'd be the first.

 

[Marionnette]

We are looking at booking with the DVC Rental Store (not a person), so I think the travel insurance would cover it since through a company. I did a search online and it looks like TravelEx insurance covers Covid in their policy. Anyone used/heard of it? Thoughts?

Doesn't DVC Rental Store offer a cancellation policy as a part of their rental agreement? I think I saw some sort of reference to it on their website.

 

[DLgal]

Doesn't DVC Rental Store offer a cancellation policy as a part of their rental agreement? I think I saw some sort of reference to it on their website.

Yes, this is what the poster needs to look into. Travel insurance won't cover this type of transaction. The rental companies offer their own refund options because they know it's the only way people renting points can get some peace of mind. Otherwise, why would they bother?

 

[georgina]

My room was booked before Covid, but when I cancelled a DVC points rental through a company in Oct 2020 they were able to re-rent it and I was given a full credit for up to 3 years. I was fortunate because I only cancelled a month before, but with not many resorts open at that time there was demand. I could have taken a refund but it wasn't 100%. My rental booked through a person directly for May 2020 I lost all of the money on.

You may be able to get insurance through a company that includes covid for flights and room expenses. I would look carefully at the fine print. Not a great time to be renting with all the uncertainty.

 

[houseofduck]

Take a look at the last post in this thread on the same topic.

http://disboards.com/threads/trip-insurance-for-renting-dvc-points.3859198/
@magicmountainmama bought travel insurance for rented points from AIG and made a successful claim in 2017.