What are the Pros and Con of DVC Travel Insurance

[StevenTheGeek]

Hey Gang!

Received our confirmation letter for our 12-day vacation at BCV March/April 2004.

Along with the letter is a brochure about travel insurance. I have never used this insurance before, however taking into consideration the length of our vacation (12-days) and the number of people going (4 adults, 5 children), I'm wondering if travel insurance would be a wise investment.

So, my questions:
What are the pros and cons of travel insurance?
Would you or would you not use it in the future? Why?

 

[DebbieB]

How many points is the reservation? It doesn't seem to pay much, $5 per point. Not enough to pay for a comparable room on a rescheduled trip.

 

[StevenTheGeek]

550 points via the 300% method

 

[DebbieB]

So if you would cancel, you would get $2,750 from the cancellation insurance. The premium will be $137.50. There is also baggage & medical expense insurance on the flyer that would be additional.

I don't think anyone has ever posted the details of how this insurance works. I'm not sure if anyone here has even used it. I would call the 866# and ask some questions. Does it only pay if you cancel within 30 days? Since you are using banked & borrowed points, would it pay more than 30 days out? How about pre-existing conditions (if anyone in your group already has a medical problem)?

Question to ask yourself - what is the chance you would have to cancel completely? With 4 adults, I assume you have 2 families. Would the others still go if 1 cancelled? Would you have time to reschedule before your use year is up? If you are getting a grand villa it might be tough. It would be easier to reschedule 2 rooms.

Let us know if you find out any details on how the insurance works.

 

[Richyams]

I wouldn't do it.

It only pays $5 per point.

It seems to me that you are going to make sure that you make it. If its worth $137 to you to be able to recoup $2750 in the remote chance of you canceling, or if you think there is a good chance you will not make, it may be worthwhile.

I wouldn't do it, never have, never will.

 

[DEH3rd]

I wish i had done it. Never thought I would need it, but now i am concerned. My wife's grandmother is in bad shap (cancer), & it could be any time. We leave in 10 days, & who knows what will happen. oh well, what are ya gonna do?

 

[StevenTheGeek]

I always heard that the insurance only applies to the current use year and that the banked and borrowed points aren't insurable? Am I incorrect?

 

[Sims]

Since we had three unexpexted cancellations this year, we were going to use the insurance for next year's trip. But we used renting and transferring for the first time because of all the points from those canellations that we would have lost by September 30th. Renting or transferring results in more than $5 per point. I don't know how the airline part of the insurance works. If you could buy it without buying the point insurance and if you can buy it without a DVC made plane ticket, it could be worthwhile.

 

[Doctor P]

I bought the insurance for our cruise to be able to get the catastrophic medical insurance beyond what my HMO will cover. You had to buy the basic insurance to get the medical. Given the prices for the medical alone that were quoted by other providers, the DVC insurance appears to be a good deal.