Trip Insurance when renting DVC points?

[triplefigs]

I am very interested in renting points for a trip next summer. I always buy trip insurance when we travel, so that I don't lose any money in case something happens. Is there a trip insurance that I could get that would protect me (as the renter) and the DVC owner? A policy that would allow me to pay the DVC owner in full even if I cannot make the trip and allow me to recoup my deposit?

thanks!

 

[tjkraz]

Info on trip insurance is included with every DVC reservation confirmation. But, from what I've heard, the policy isn't very good. The proceeds are only $5 per point, which means you'd probably get back half (or less) of the amount you spent for the reservation. You'd also want to review the policy carefully to see what situations would actually be eligible for a claim.

Can't help with any premium estimates.

While there are many companies that write trip insurance policies, you may have trouble finding another that will work with DVC. Since DVC is a point-based timeshare system, it's difficult to establish any real cash value for the trip.

 

[Doctor P]

I'm also not sure if a renter can use the points insurance. I think the policy would have to be in the owner's name, but I'm not sure of that.

 

[dianeschlicht]

I kind of think the DVC point insurance is for the owner too. Pretty hard to insure a private timeshare rental anyway.

 

[JimMIA]

I would Google "trip insurance" and check with some of the insurance companies.

I don't really think the points basis of DVC rentals should be an impediment to you getting trip insurance. Obviously it is if you are buying DVC's trip insurance, but not if you are purchasing your own.

I wouldn't even mention the concept of points. You are dealing with a private individual and you are renting X# of nights' accommodations from them for X$, just like you rented a ski condo from someone. How I get accommodations to rent to you - and what/how I pay for them - is irrelevent, as long as the insurance company is okay with the private rental

I would explain the private rental nature of the deal to the insurance carrier up front and be sure that is an acceptable type of rental for them to cover. It may or may not be.

[Incidentally, if you find a company that will write trip insurance for private rentals, that would be very good information to post here. It would be helpful to a lot of people -- both owners and those renting points from us.]

I would also make sure the DVC owner renting the points knew that you were buying trip insurance, and that they would be prepared to furnish you with a "Paid in Full" invoice for the rental in the event you needed it for insurance purposes.

 

[JimMIA]

I took my own advice and did a Google search. Right near the top was Travel Guard, a big company which I have used previously. I also had a claim with them once, and it was promptly and professionally handled.

I called their 800 number and asked whether they insure timeshare rentals from private individuals.

"Of course we do!" came the reply.

I was told they will reimburse any nonrefundable lodging cost or nonrefundable deposit, regardless of who the deposit is made to, as long as the claim otherwise meets the coverage requirements (cancellation due to illness, natural disaster, etc, etc.)

Travel Guard's website is www.travelguard.com and their toll free number is 800-826-4919. They gave me permission to post both contact methods here.

I'm sure there are other fine companies who also provide this insurance, but this one I happen to have dealt with several times, and they are widely used by travel agents.

 

[triplefigs]

thank you! I think you have 2 weeks from 1st payment to buy insurance, so I wanted to take care of this up front! With kids, you NEVER know what may happen 11 months from now. I would not want to chance losing my deposit or money, and I definitely would never want to short change the DVC owner when they trusted me in the first place. I just don't do business that way.


Thanks again!

 

[dianeschlicht]

That's some great information, Jim!

 

[Doctor P]

Makes perfect sense, Jim. Good catch and thanks for the information. We use Travel Guard for our insurance when we buy.