Trip cancellation insurance when renting points - how have you done it?

[peacefrogdog]

I know this is a rental question, but I it looks like the rental board is only for "for rent" or "wanted" posts.

I just arranged my first point rental from a member, for a trip in July 2011. I'm about to pay the rental fees through Paypal (with funds coming from my credit card).

The person renting them to me has said that in the event I have to cancel, there is a possibility of getting a refund if the points can be easily rented out to someone. The points are for VGC so I'm guessing that would be fairly easy to do. However in the event where that is not possible, then I would not receive a refund.

Because of this I'm thinking of getting trip cancellation insurance mainly because my wife's line of work is something when she could get called in to court to provide expert testimony. Most policies I've reviewed say that such a policy would need to be purchased within 48 hours of purchasing travel arrangements.

In this case, I would be looking to get insurance to cover the costs of the DVC rental. Has anyone done this, and if so, when the travel purchase (for the rental) is less formal than purchasing through a travel agency, what timeline did you purchase trip cancellation insurance relative to paying for the rental?

Also, will trip cancellation insurance policies even cover the costs of DVC points or other timeshare or apartment rentals for that matter?

Thanks in advance

 

[rlovew]

I don't know about when renting point but I know there is insurance available when using points- normally you would get back about $5 a point. If you might need to cancel that close to a trip there is a high likelyhood the points/reservation wouldn't be able to be rerented.

 

[MrShiny]

Disney sends the travel insurance brochure when you rent on points (in fact the confirmation letter that will probably be sent to the member should have it). I am not sure how they value a reservation on points, but they do offer the insurance.

 

[peacefrogdog]

Can I still use the Disney insurance if I'm not the person making the reservation?

 

[Sandisw]

Can I still use the Disney insurance if I'm not the person making the reservation?

You probably really need to investigate what types of cancellations would be covered and whether or not the reason you mention would be included with any type of insurance. I would assume that the insurance Disney uses can be attached to the reservation but not sure if the owner would have to take care of that for you or not. Most policies I have seen have pretty specific reasons in which they will pay.

One of the great benefits of renting a DVC reservation from an owner is that you get a great deal. Of course, the big drawback is that the cancellation policies are usually a lot more strict than when booking something directly with Disney.

 

[JimMIA]

By far the best alternative to the renter is to purchase trip insurance directly through Travel Guard. Travel Guard is an industry leader, and the same company that DVC uses. I've used them probably a dozen times and had to collect twice.

You cannot purchase the DVC insurance because they are not your points, and it's not a very good deal anyway.

Getting the insurance directly from Travel Guard will not only cover the full cost of your DVC rental, but also airfare, car rental, and any other non-reimbursable expenses you have...for covered causes of cancellation.

That last little phrase is very important. You MUST know what you are insured for and what you are not. Generally, trip insurance only covers cancellations due to medical causes, natural disasters, etc. The medical cancellation coverage is not just for the people on the trip, but for any close family member. The Travel Guard reps will be glad to explain it all to you.

 

[Atotty]

I've also been wondering how to do this. Our parents are very sick.

Thanks OP for asking the question and thnaks to all those who answered.

 

[DebbieB]

I would be careful before purchasing a policy. Employment related cancellations may not be covered. It's typically for illness of the traveling party or their immediate family.