To travel guard or not - question about cancellation?

[Anjelica]

We have our upcoming trip this December with 5 nights at VWL and then a 7 night Disney Cruise. We used points for our 5 nights at VWL and almost 700 points for our Disney Cruise and some cash to pay for children. We are contemplating getting travel guard insurance BUT I wanted to know what exactly are the rules (DVC/DCL using points) if we have to cancel our DCL say at the last minute? Do those points get "lost" or do they go into some type of holding account where we can use them but only on another DCL within 30 days or so?

TIA - Anjelica

 

[cherylp3]

It depends, I have read that there have been people with extreme situations that have gotten the points back.

Regarding insurance, the point value is: $5- $7 a point
If cancellation, it depends on what day you are at, you can check with member services.

 

[Deb & Bill]

If you cancel 30 days or less out, the points will have to be used before the end of the use year and they remain reservation points. That means they can only be used for non-DVC reservations. Also, you can only make a reservation 60 days out.

If you cancel 31 days or more out, all of the above apply except for the 60 days out on reservations.

I thought the trip insurance only paid $5 a point per point lost. Plus there are limitations on what counts as a valid reason to cancel.