DVC Travel Insurance

[DVCanadian]

Has anyone read the policy documentation? I have and it doesn't match the description above in this thread, or the description provided by the phone agents when I call DVC.

I read this description of coverage document

I am using 3 years of points to go to Grand Cali and then Aulani, right at the end of my use year, so I need coverage. I'm willing to pay the 3x$89 because any comparable coverage (that I could find) was a lot more. BUT I still like a deal and after reading the policy I don't agree that I need to buy multiple coverages for multiple use years if I am using banked and borrowed points.

There is no reference to multiple use years in the text and certainly nothing as clear as an example. Here is what is written on panel 9 (pdf page 3):

"If you are prevented from taking your Covered Trip for one of the Covered Reasons, we will reimburse you:

1. up to the amount in the Schedule for the amount of forfeited, prepaid, non-refundable, and unused Payments or Deposits, Exchange Fees, Maintenance Charges and/or Guest Fees that you paid for your Covered Trip and/or Exchange; "
​

I think the writers of the policy didn't really understand what they were doing. The policy is written more to cover all trips DURING a use year, and the points used for those trips (reservations).

The DVC agent on the phone also told me that the insurance was for points in the insured use year and not by reservation. So what is the most prominent text on the first page of the policy document?

"*All coverage is per reservation unless otherwise noted. "​

I could post more references but I'm wondering if anyone who has read the policy can see how they can enforce the stated advice of buying for each use year of points used?

I will be calling the insurer to clarify (argue) but in the meantime I'd love your input.

 

[jekjones1558]

I am not a lawyer but even though it says coverage is "per reservation," the points that are used "per reservation" must be insured. For example, if you are using 3 years worth of points but have only insured one year of points then it makes sense to me that the company would not be liable for 3 years worth of points. By the same token, if you have 6 separate reservations using points from one year of insured points, then all of those reservations would be covered because you are using insured points for all 6 reservations. Note that reservations for rooms you make for others but are not staying in yourself are not covered, even if those reservations are concurrent with your own reservation and even if those reservations are made with insured points.

 

[miTnosnhoJ]

It is important to realize that theythere do not cover the "value" of your reservation, whatever that is. They just cover the maintenance fees. You get no compensation for the money you spent buying the points.

 

[DVCanadian]

I am not a lawyer but even though it says coverage is "per reservation," the points that are used "per reservation" must be insured. For example, if you are using 3 years worth of points but have only insured one year of points then it makes sense to me that the company would not be liable for 3 years worth of points.

When I speak to the insurance company this could be the most fun part. According to Disney, if I bank and borrow points they become permanently part of that use year, so why would I need to buy insurance for the previous use year (for example) when Disney has confirmed that I no longer have points in that year I have permanently moved them?

Unless there is a more detailed insurance document the flyer provided does not refer to more than one use year or any of the other items referenced.

If anyone else has read it let me know.

 

[jekjones1558]

I have read it. I have also filed a claim. Those banked or borrowed points are not the same as your current use year points, even though they are in your current use year. You cannot borrow them, you cannot bank them. I will be surprised if you get the answer you want from the insurance company and if you do, proceed at your own risk. Like MS agents, I am sure there are some who are less well informed than others. You probably won't need to file a claim but it would be a bad time to check how the rules are applied if you do have a claim.

 

[Chereya]

https://disneyvacationclub.disney.g...tionplanning/travelex/DVC_Travelex_COI_V2.pdf

Thank you so much for sharing the link to the info!

 

[pmaurer74]

I find it confusing too. I called about insuring our GCV trip but they will give me a policy that does not cover points because they are transferred points and technically not mine. I think I will look elsewhere for a travel insurance policy but they were unsure how to handle it. I have insurance for 2016 and 2017 uy for pas trips. I am using 7 2017 points in December, technically my whole trip and those on my reservation are already covered even if I am using just 1 point from 2017? That is what I do not get. I am more interested in the medical, trip interruption and airfare than I am the point values. I plan to get a 2018 policy just in case.

 

[APiratesLifeForMe2]

Has anyone read the policy documentation? I have and it doesn't match the description above in this thread, or the description provided by the phone agents when I call DVC.

I read this description of coverage document

I am using 3 years of points to go to Grand Cali and then Aulani, right at the end of my use year, so I need coverage. I'm willing to pay the 3x$89 because any comparable coverage (that I could find) was a lot more. BUT I still like a deal and after reading the policy I don't agree that I need to buy multiple coverages for multiple use years if I am using banked and borrowed points.

There is no reference to multiple use years in the text and certainly nothing as clear as an example. Here is what is written on panel 9 (pdf page 3):

"If you are prevented from taking your Covered Trip for one of the Covered Reasons, we will reimburse you:

1. up to the amount in the Schedule for the amount of forfeited, prepaid, non-refundable, and unused Payments or Deposits, Exchange Fees, Maintenance Charges and/or Guest Fees that you paid for your Covered Trip and/or Exchange; "
​

I think the writers of the policy didn't really understand what they were doing. The policy is written more to cover all trips DURING a use year, and the points used for those trips (reservations).

The DVC agent on the phone also told me that the insurance was for points in the insured use year and not by reservation. So what is the most prominent text on the first page of the policy document?

"*All coverage is per reservation unless otherwise noted. "​

I could post more references but I'm wondering if anyone who has read the policy can see how they can enforce the stated advice of buying for each use year of points used?

I will be calling the insurer to clarify (argue) but in the meantime I'd love your input.

Ok I read the policy language and it does restrict coverage from "points accumulated or deposited from previous years". My understanding is that you would in theory need a separate policy from each use year since the coverage is for the maintenance fees/dues of each individual use year regardless of being banked. Depending on when you purchase the policy, you may not be able to cover the banked points since the policy excludes them in the first term. If you are still within the use year which you banked the points then you should be fine to start that policy now, and take out your second policy when you begin your next use year (presumably the one you will travel during)

Problem with insuring borrowed points is that you haven't actually incurred any dues fees yet so there is nothing to reimburse. I'm not certain how that portion of the claim would be handled.

When you refer to the text "all coverage is per reservation" is only in reference to the dollar limits listed above that being a reservation limit rather than an aggregate limit, "unless otherwise stated" like the $500 aggregate cap on value of redepositing airline miles.

Lastly this is an insurance policy so a licensed insurance agent at travelex or nationwide is the only person who will be able to tell you what is and is not covered. So basically unless the DVC agent is licensed to sell this product, they aren't the person to ask coverage questions to anyway.

 

[skier_pete]

We have used www.vacationrentalinsurance.com instead of DVC insurance because its more straight forward. It depends on what coverages you are looking for...we found them from CSA TRAVEL PROTECTION which we have used for travel insurance in the past. CSA is the insurance provider behind vacationrentalinsurance.com.

I don't know about this particular insurance, but a lot of insurance companies will not cover the "loss" of time share usage. In other words, while things like your flight and tickets may be covered, because you wouldn't technically lose your points (they would just go into holding) they don't cover them - whereas the DVC insurance does. I could be wrong and this particular insurance does cover timeshares, but as I said a lot of travel insurances won't fully cover your timeshare.

I haven't ended up buying the DVC insurance yet because our trips have always ended up having points from 2 or even 3 UY in them, but I do plan on buying it for my 2017 UY points.

 

[APiratesLifeForMe2]

I don't know about this particular insurance, but a lot of insurance companies will not cover the "loss" of time share usage. In other words, while things like your flight and tickets may be covered, because you wouldn't technically lose your points (they would just go into holding) they don't cover them - whereas the DVC insurance does. I could be wrong and this particular insurance does cover timeshares, but as I said a lot of travel insurances won't fully cover your timeshare.

I haven't ended up buying the DVC insurance yet because our trips have always ended up having points from 2 or even 3 UY in them, but I do plan on buying it for my 2017 UY points.

Agreed! The one offered through Disney still only covers your dues, not the "value" of your points.

 

[skier_pete]

Agreed! The one offered through Disney still only covers your dues, not the "value" of your points.

Right - it only covers the dues, but not your up front costs.

 

[mjr0483]

I couldn't be more confused about what happens to your points if you have to cancel for a covered excuse.
Can someone dumb it down for me?
I have an upcoming trip to GCF Villas in April that I used 124 points with a March use year and all 124 points came from this use year.
If I cancel within a certain time the points just go back to the use year and within 30 days to holding.

What does the DVC Insurance buy me on top of that?

 

[skier_pete]

I couldn't be more confused about what happens to your points if you have to cancel for a covered excuse.
Can someone dumb it down for me?
I have an upcoming trip to GCF Villas in April that I used 124 points with a March use year and all 124 points came from this use year.
If I cancel within a certain time the points just go back to the use year and within 30 days to holding.

What does the DVC Insurance buy me on top of that?

What insurance says is it will pay your MF if you have to cancel a trip for the whatever the covered reason - but that's assuming you can't use your points. I would think if you cancel far enough in advance and then end up using your points on a different trip, then insurance would not cover those points. Really to me the insurance is for last minute cancellations anyways. If I were to cancel a trip say 2 months in advance, even for a covered reason - I would likely just rent out the stay and that would more than cover my MF. I more look at it as either (a) I have to cancel last minute because of a accident or injury or (b) the more likely scenario that my travel has been delayed by a snowstorm or hurricane and I can't stay for the reservation.

 

[mjr0483]

I think I might do it. I have two trips scheduled on a single use years points. So one fee to cover two trips seems reasonable. The other benefits seem comparable to others I have shopped.

 

[Firepath]

At $89, even just per UY, it's a great deal. We always buy it every year and then don't have to worry about which points we used for a particular reservation. It doesn't cover the actual cost of the points, but worst case, they would go into holding so you could still use them. The policy provides so many other good benefits like fees for Frequent Flyer mile reinstatement, pet boarding fees if there is a delay, pre-existing conditions can be covered, and their definition of "relative" is really inclusive. We have many older relatives which could cause us to cancel a trip if something bad happened, so it's worth it for us. It might not be for everyone and every situation.

 

[BWV Dreamin]

I couldn't be more confused about what happens to your points if you have to cancel for a covered excuse.
Can someone dumb it down for me?
I have an upcoming trip to GCF Villas in April that I used 124 points with a March use year and all 124 points came from this use year.
If I cancel within a certain time the points just go back to the use year and within 30 days to holding.

What does the DVC Insurance buy me on top of that?

If you have to cancel last minute it will pay you the amount of your MF’s on those points. I used Disney nsurance ( not DVC) for a Disney cruise. Unfortunately, we had an incident (we were robbed over in Spain) and we had to use it. It was a great experience dealing with Disney. I know it’s not always the most inclusive, but we were very happy with the coverage and reimbursement.

 

[skier_pete]

At $89, even just per UY, it's a great deal. .

Yes and no...you can have a 500 point contract or a 50 point contract, and either way it's $89. I have two contracts at two different resorts, and so have to buy insurance twice if I want it. One contract is only 75 points, so paying more than $1 per point to get back $6.50 per point doesn't seem like a great deal to me...

 

[maburke]

Yes and no...you can have a 500 point contract or a 50 point contract, and either way it's $89. I have two contracts at two different resorts, and so have to buy insurance twice if I want it. One contract is only 75 points, so paying more than $1 per point to get back $6.50 per point doesn't seem like a great deal to me...

It is if you fly, and it covers flight cancellation.

This thread reminded me to buy it for this UY, but the link from the member site doesn't seem to be working properly -- it just takes me to a general quote request page for Travelex, with no indication of how to get the DVC plan. Anybody else have this problem? solution?

 

[wnielsen1]

Like all insurance, it's a good deal if you use it and not such a good deal if you don't. Some people are more risk averse than others. The deciding factor is does the purchase help you sleep better at night? Buying insurance on my house helps me sleep better at night. Buying insurance on a UY worth of points does not. Others likely feel differently.

 

[maburke]

Again, I don't buy it for the points coverage. I am very unlikely to use it for that. I buy it for the airfare, luggage delay, health, and all the other coverages. With all the travel we do, now that we're in the 1000 point club, it's well worth it for $89.