Who pays for Vero Beach repairs?

[LewB]

thanks, gritzel4

The boards they are a changing.

 

[Dean]

The members are responsible for all costs and lost revenue. DVC doesn't even pay dues on the points they own. Technically the members there should lose use of the club during this period of time but hopefully DVC can float it.

 

[LewB]

I agree with Dean, however, having gone to VB on many occasions, I feel a particular affinity for the joint. Speaking only for myself, if the worst were to happen, I would be willing to subsidize a rehab. Obviously, within reason.

(just re-read your post, Dean. I am assuming that it is only VB members who have assumed the risk of ownership at that resort.)

 

[micki1]

In response to Gary, here in NJ our hurricane deductible for barrier islands is 4% as well. That is common. As for the premium amounts, I'm not sure how correct they are. But consider a $20,000,000 home without a mortgage of some kind and then consider that company not requiring insurance. I doubt it. I would believe that Disney would at the very least partially self insure. They're liability is huge. Just additional food for thought from another insurance person.
micki1

 

[Dean]

Originally posted by LewB
I agree with Dean, however, having gone to VB on many occasions, I feel a particular affinity for the joint. Speaking only for myself, if the worst were to happen, I would be willing to subsidize a rehab. Obviously, within reason.

(just re-read your post, Dean. I am assuming that it is only VB members who have assumed the risk of ownership at that resort.)

Yes, just the members that own at VB.

 

[Desperado]

Originally posted by LewB
Can't we take a break from the partisan politics? There are many better venues available.

I checked out the thread because I was interested in the subject matter, not in the personal politics, habits, ...ad nauseam of anybody who has the right to post.

Go find a new Debate Board. This isn't it.

aaaahhhhhhh.......... lighten up, will ya?

 

[SStJean]

Originally posted by johare
Insurance will likely cover the damage, but not the income lost due to the entire resort being empty for an entire month. Not sure if that's a loss that could or would be passed on to DVC members though.

There are actually commercial insurance policies that cover lost revenue as well as things like warehoused stock and supplies and losses due to power loss. I would assume that Disney's policy covers these, but with either a $ deductible or having to wait a certain # of days.

 

[stacy6552]

Originally posted by KennySC
John Kerry just called in and stated that if he were President the Federal Goverment would pay for all repairs, lost income and candy for all the kids!

He just called back.....He's changed his mind......

 

[stacy6552]

LOL...Guess I should read the enitre thread, so I can make a more original joke.

 

[Desperado]

Originally posted by Dean
Yes, just the members that own at VB.

But in ths case, all members from all resorts could share the cost equally to help insure Vero's repairs.

 

[CarolMN]

Originally posted by Desperado
But in ths case, all members from all resorts could share the cost equally to help insure Vero's repairs.

Only on a volunteer basis - there's nothing in my contract that says I am responsible for damage at VB.

 

[Desperado]

Originally posted by CarolMN
Only on a volunteer basis - there's nothing in my contract that says I am responsible for damage at VB.

We're paying for OKW's slide, aren't we? Shouldn't Ver repairs come out of the same pot?

 

[Zimbubba]

This is an interesting yet pointless debate. Our contracts clearly spell out what hppens in such cases or worse disasters. Read your contracts!

 

[Dean]

Originally posted by Desperado
But in ths case, all members from all resorts could share the cost equally to help insure Vero's repairs.

Not legally or contractually. DVC could not do this without a direct vote of the members, per the POS.

We're paying for OKW's slide, aren't we? Shouldn't Ver repairs come out of the same pot?

Actually NO, DVD is paying for the slide themselves.

 

[Lisa loves Pooh]

You guys are a riot!

Not a DVC member, so I do not know what will happen--but I agree that your contracts should state clearly.

Wow, 4% in NJ for the islands, ours is 2% and I thought that was high. No claim for us this hurricane, thankfully. What is the risk for hurricane in NJ?

 

[Desperado]

Originally posted by Dean
Not legally or contractually. DVC could not do this without a direct vote of the members, per the POS. Actually NO, DVD is paying for the slide themselves.

Who is DVD?

 

[HookdonWDW]

Originally posted by Desperado
Who is DVD?

DVD is the Development company. When you signed your contract, you signed a contract with DVD.

DVC is the group that you then belong to.

DVD builds the resorts, furnishes them and provides all of the initial ammenities.

DVC collects dues, taxes, and maintains the resorts.

So... if DVD updates a pool at OKW, replaces defective siding at BWVs, or replaces couches with queen sized beds in the BCVs, it does not come out of your dues. It comes out of DVDs operating funds (or the initial purchase price/point).

On the other hand, if DVC replaces furniture that someone has destroyed (without charging them), repairs defects in units, pays electrical bills and deals with hurricane damage, the money for these items comes from the dues that the DVC owners at that resort pay. This is part of the reason why the dues are not the same at each resort.

 

[manning]

Each unit is seperate and has their own budget. All of us will not pay the damages on VB. Just VB owners.

 

[BobH]

If repairs to the Vero DVC equal 2 million - which I doubt after reading posts here and seeing pictures posted that were taken that show the walkway to the beach still standing - it would cost 80,000 DVC member $25 each to cover the costs if we were charged. This is a good issue to examine but I don't think anyone should have to worry too much about assessments even if they can legally be requested.

 

[Dean]

Originally posted by BobH
If repairs to the Vero DVC equal 2 million - which I doubt after reading posts here and seeing pictures posted that were taken that show the walkway to the beach still standing - it would cost 80,000 DVC member $25 each to cover the costs if we were charged. This is a good issue to examine but I don't think anyone should have to worry too much about assessments even if they can legally be requested.

The costs will go to just the members who own at VB, not all DVC members. Minus any insurance paid. And in the future, only the members at VB will pay any increased insurance premiums. As it should be.