Travel insurance - your opinion please

[mickeymom629]

I have a trip booked using banked, borrowed and current points - a lot!! The trip is in January and my use year is June so, if I had to cancel for some reason (I pray not!!), there seems to be plenty of months if we are flexible to try to rebook within 60 days some how to use those points. So, I was thinking I would not buy the travel insurance.

However, I realized that the travel insurance may actually be worth it if, for some reason, our trip is disrupted..

Do most of you buy insurance? I think I used to when I first became a member, but I have not done that of late. With all the points I'm using for this trip, I am thinking it might be good since there are 7 or 8 of us going and you never know...

 

[dworldlovers]

I've gotten the insurance on a couple of our trips when there was a possibility of something popping up. Since you're using points (I'm not familiar with DVC points!) I might consider the insurance to protect them! For the cost, it really isn't that bad a deal and for the piece of mind, well that can mean quite a bit!!! Have a 'Magical' trip-we'll be at POR in Feb.

 

[erionm]

Since you are using points, you will be limited as to where you can purchase travel insurance from. DVC has arranged for coverage through Travelex Insurance Services.

The cost is $79 per UY (covers all persons listed on reservation). Since you are using three UY's worth of points, you would need to insure all three years ($237).

Brief description: http://advc.disney.go.com/media/dvc...ionplanning/travelex/DVC_Travelex_Info_V2.pdf
Policy Details (NY Residents): http://advc.disney.go.com/media/dvc...nplanning/travelex/DVC_Travelex_COI_NY_V2.pdf
Policy Details (WA Residents): http://advc.disney.go.com/media/dvc...nplanning/travelex/DVC_Travelex_COI_WA_V2.pdf
Policy Details (All Other Residents): http://advc.disney.go.com/media/dvc...tionplanning/travelex/DVC_Travelex_COI_V2.pdf

 

[butsy113]

I'm going to tag along. We too have a 3UY trip planned. I've been debating Do most people buy it or not?

 

[DVCPal]

I have never bought the insurance, but find it interesting that it is based on UY and not number of points. Because I usually combine 2 member numbers and borrow from at least one, it would truly be costly.

 

[erionm]

I have never bought the insurance, but find it interesting that it is based on UY and not number of points. Because I usually combine 2 member numbers and borrow from at least one, it would truly be costly.

The $79/UY fee covers all trips taken during that UY. You don't pay per trip.

 

[abdgeek]

I have a trip booked using banked, borrowed and current points - a lot!! The trip is in January and my use year is June so, if I had to cancel for some reason (I pray not!!), there seems to be plenty of months if we are flexible to try to rebook within 60 days some how to use those points. So, I was thinking I would not buy the travel insurance.

However, I realized that the travel insurance may actually be worth it if, for some reason, our trip is disrupted..

Do most of you buy insurance? I think I used to when I first became a member, but I have not done that of late. With all the points I'm using for this trip, I am thinking it might be good since there are 7 or 8 of us going and you never know...

Because of an incident in 2010, I now get the DVC travel insurance every year because I do ABD and DCL trips in addition to going to WDW. To me, it's a small price to pay to be covered in case something happens. I also get travel insurance from another company that covers my OOP for everything else.

Here's what happened: I was supposed to travel to WDW for Xmas week 2010. A huge snow storm hit and my flight was cancelled and I couldn't get out for three days. I immediatedly called MS and they modified my reservation and put my points in holding. I was told at that time that WDW was being lenient because the travel insurance had just come out. I was told that if something like that happened in the future that I would loose my points if I didn't have the travel insurance.

 

[mdinme]

We never buy it. There's nothing that would get in the way of us going to Disney.

 

[tjkraz]

We have never bought travel insurance. Philosophy is similar to extended warranties on appliances, electronics and other devices, which we rarely purchase. What you need to consider is how much you stand to lose vs. the cost of the insurance and likelihood that something may happen.

In 9+ years we've never had a travel delay or single resort day lost. That includes stays at WDW, DL and three Disney cruises. If we had paid to insure some or all of those trips, it would have cost us thousands of dollars.

We know that someday an issue may arise which would causes some loss of vacation time. But in light of the thousands saved by NOT purchasing insurance, there is a high likelihood we would still come out ahead.

That said, I think it's wise to evaluate each stay on its own merits. There's not much reason to insure a 3-night studio stay for 2 people in June. Low number of points, little chance of weather-related travel delay, etc.

However, a week or more at Aulani--which uses a lot of points and has high travel cost--is a better candidate for insurance, IMO.

 

[bwvBound]

We don't buy the insurance sold by DVC for DVC stays, but we do have the similar product, TravelSecure, from our other points-based timeshare, Worldmark. Some of the TravelSecure benefits are applicable to all forms of travel, even without connection to a Worldmark reservations.

Beyond these, we will typically buy travel insurance for trips outside the U.S.

 

[msabol01]

So I am feeling a bit dense. I understand why travel insurance in a must for a cruise and/or to cover airfare in the event of a disruption or emergency. I don't quite get how it works for points!?!

If I had booked a stay using points (for arguments sake, 200 points at AKL) and I have an emergency that prohibits me from traveling 3 days prior. I know I can be reimbursed for my airline tickets with all the proper documentation, but how does insurance help with my points that would be forfeited?

Thanks in advance!

 

[AnnaS]

I purchased it (1st time) for this year and next year - we have three cabins booked - two cash and dh and I are booked on points so I really wanted to have it. ($79 x 2). Plus we have/had three trips this year and besides cruise - two more trips next year.

We do purchase insurance if we are cruising or leaving the country.

 

[mickeymom629]

Thanks! I will be calling today to purchase the insurance for the 3 UYs for our upcoming January trip. I think it will give me peace of mind and hopefully it will turn out that we didn't need it. Not sure if we will be taking another trip next year but, since I will be purchasing insurance for that UY, it may be another excuse to plan!

 

[Coffee Princess]

Definitely get it... you can't go wrong.

 

[tjkraz]

So I am feeling a bit dense. I understand why travel insurance in a must for a cruise and/or to cover airfare in the event of a disruption or emergency. I don't quite get how it works for points!?!

Last I heard, the insurance provided some cash stipend for any points which are lost. The figure was around $5 per point, which may not even cover the dues on some resorts.

Bear in mind that the points may have to be completely lost in order to collect. If the trip is cancelled due to some late-term medical issue (i.e. emergency surgery a week before the trip), there is no immediate loss on the points and there may not be a valid claim.

FWIW, I would definitely get a hold of the full policy before buying. Several people have commented that they were shocked to learn the insurance did not cover certain circumstances.

Also, some credit card companies offer free travel insurance to their cardholders. Look into that before spending more money. Homeowner's insurance policies often cover physical losses.

Lastly, you don't have to go through TravelX...you can always insure the trip through another carrier. When doing this, you can basically name your own terms and trip value and the carrier will calculate a price based upon your figures.

 

[LisaS]

Last I heard, the insurance provided some cash stipend for any points which are lost. The figure was around $5 per point, which may not even cover the dues on some resorts.

Bear in mind that the points may have to be completely lost in order to collect. If the trip is cancelled due to some late-term medical issue (i.e. emergency surgery a week before the trip), there is no immediate loss on the points and there may not be a valid claim.

I booked a trip recently and the MS CM asked if I wanted the insurance. I asked how much it pays out and she said it covers the dues on points that are lost.

 

[mickeymom629]

I purchased the insurance yesterday through DVC phone call. She charged my cc $79 3 different times for the 3 UYs. The 2013 points I am not using for this upcoming trip are covered for whenever I use them. Reimbursement will depend on membership dues per point.

I think it's great that the insurance is for UY rather than per trip, since they cover the points for that year whenever you use them. Also, the insurance is for so much more than just membership. It covers loss of luggage, some medical, theft, etc.

I hope I won't need it, but I'm glad I have it for peace of mind!