• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 26 years!

    Join tens of thousands of other owners just like you here to get any and all Timeshare questions answered!
  • TUG has now saved timeshare owners more than $16,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $16 Million dollars
  • Follow the TUG Member Banner as it travels the world on vacation with Timeshare owners! Also sign up to get the banner sent to you so you can submit a photo of your vacation with the banner to share with TUG! Banner Thread
  • Sign up to get the TUG Newsletter for free! Join tens of thousands of other owners who get this every week! Latest resort reviews and the most important topics discussed by owners during the week!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    Read more Here
  • A few of the most common links here on the forums for newbies and guests!

Cancel when resorts close due to wildfire/hurricane evacuation order

Bunk

TUG Member
Joined
Jan 28, 2010
Messages
842
Reaction score
612
Points
303
Location
New York
Perhaps I am missing it, but the overview indicates that the insurance would reimburse non-refundable trip payments. I don't see where it says the week would be replaced (meaning a replacement deposit or certificate). The insurance is provided by a third party (Allianz). They don't really have any ability to provide a replacement week, only to pay out up to the policy limits and actual costs incurred. One could argue here that maintenance fees are a non-refundable trip payment.
View attachment 39790
I called up Travelex and asked about damages paid under their Marriott policy. For a covered loss under a Marriott policy, they will reimburse: i. Maintenance fee for the year of the policy (prorated to reflect the portion of the maintenance fee used) and ii. Airfare.

It is unclear to me what happen when you pay maintenance fee in one year and the loss is suffered in another year. So let's say that I pay insurance for the 2022 year and I book something in 2023. It is not clear to me whether the 2022 policy would cover maintenance fees paid in 2022 when the Covered Event occurs in 2023. I was told that if you buy a policy for 2022 and another policy in 2023, that would cover the maintenance fees paid in both 2022 and 2023 if the covered event occurs in 2023.
 

dioxide45

TUG Review Crew: Expert
TUG Member
Joined
May 20, 2006
Messages
33,894
Reaction score
7,366
Points
899
Location
NE Florida
Resorts Owned
Marriott's Grande Vista
Marriott's Harbour Lake
SVV - Bella
SVV - Key West
It is unclear to me what happen when you pay maintenance fee in one year and the loss is suffered in another year. So let's say that I pay insurance for the 2022 year and I book something in 2023. It is not clear to me whether the 2022 policy would cover maintenance fees paid in 2022 when the Covered Event occurs in 2023. I was told that if you buy a policy for 2022 and another policy in 2023, that would cover the maintenance fees paid in both 2022 and 2023 if the covered event occurs in 2023.
Good point, but with II exchanges you don't buy them based on the year like you do with The Visana or MVC policies, You buy the insurance on each individual exchange. So that may change how they work because the MF can be tied to the deposit used for the exchange.
 

dougp26364

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
13,254
Reaction score
1,443
Points
498
Location
Kansas
Resorts Owned
Marriott Grand Chateau
Marriott Shadow Ridge
Marriott Ocean Pointe
Marriott Destination Club Points
Hilton Grand Vacation Club Las Vegas Blvd
Grand Colorado on Peak 8
Spinnaker French Quarter Resort Branson
Perhaps I am missing it, but the overview indicates that the insurance would reimburse non-refundable trip payments. I don't see where it says the week would be replaced (meaning a replacement deposit or certificate). The insurance is provided by a third party (Allianz). They don't really have any ability to provide a replacement week, only to pay out up to the policy limits and actual costs incurred. One could argue here that maintenance fees are a non-refundable trip payment.
View attachment 39790
It says non refundable trip payment, “deposits”, and non refundable payments.

It’s an assumption but, when it speaks about deposits, I’m assuming that they’re talking about a timeshare deposit. It could be speaking about a monetary deposit, it’s somewhat unclear.

The issue is I can’t see the fine print unless I take out the insurance. You have the opportunity to take out insurance and cancel during the “free look period.”
 

boraxo

Guest
Joined
Aug 11, 2020
Messages
61
Reaction score
23
Points
18
Resorts Owned
Villa Resorts (Mexico); considering Hyatt
Sounds like the insurance is almost worthless if it doesn't cover the value of the points that may expire (which may exceed the maintenance fee). Many people (myself included) push the dates close to expiration. Nobody really gives a _ about the exchange fee - that's the smallest expense of my vacation. But losing a years' worth of points - that's substantial.

Last year many people lost their entire week due to COVID with no recourse. Of course the resorts can't just rebook everyone the following year because that time is already allocated. That's where insurance would make sense, assuming it is offered. But travel insurance typically covers the cost of prepaid lodging, non-refundable airfare, etc. Not timeshare time that expires.
 

jaaron2

Guest
Joined
Aug 23, 2006
Messages
2
Reaction score
0
Points
161
Location
Boston
Sounds like the insurance is almost worthless if it doesn't cover the value of the points that may expire (which may exceed the maintenance fee). Many people (myself included) push the dates close to expiration. Nobody really gives a _ about the exchange fee - that's the smallest expense of my vacation. But losing a years' worth of points - that's substantial.

Last year many people lost their entire week due to COVID with no recourse. Of course the resorts can't just rebook everyone the following year because that time is already allocated. That's where insurance would make sense, assuming it is offered. But travel insurance typically covers the cost of prepaid lodging, non-refundable airfare, etc. Not timeshare time that expires.
Perhaps this goes without saying, but strictly from a contract law point of you, if the resort is not available because of Covid natural disaster or something else, they have breached their contract for you to provide you accommodations. You should get everything back. Same with RCI. And this would be regardless of whatever contract they say you sign. They just can’t get out of it on a contract basis. That is a matter of public policy. You might have to check your own states laws on this.
 

dougp26364

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
13,254
Reaction score
1,443
Points
498
Location
Kansas
Resorts Owned
Marriott Grand Chateau
Marriott Shadow Ridge
Marriott Ocean Pointe
Marriott Destination Club Points
Hilton Grand Vacation Club Las Vegas Blvd
Grand Colorado on Peak 8
Spinnaker French Quarter Resort Branson
Sounds like the insurance is almost worthless if it doesn't cover the value of the points that may expire (which may exceed the maintenance fee). Many people (myself included) push the dates close to expiration. Nobody really gives a _ about the exchange fee - that's the smallest expense of my vacation. But losing a years' worth of points - that's substantial.

Last year many people lost their entire week due to COVID with no recourse. Of course the resorts can't just rebook everyone the following year because that time is already allocated. That's where insurance would make sense, assuming it is offered. But travel insurance typically covers the cost of prepaid lodging, non-refundable airfare, etc. Not timeshare time that expires.
Which is why I’ve always taken the risk vs buying the insurance. As I understand it, you don’t get your MF’s for the week you exchanged back, you get a replacement week to re-exchange. But his is my interpretation of what’s available to read online. It seems expensive for what’s typically a low risk event.
 

dougp26364

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
13,254
Reaction score
1,443
Points
498
Location
Kansas
Resorts Owned
Marriott Grand Chateau
Marriott Shadow Ridge
Marriott Ocean Pointe
Marriott Destination Club Points
Hilton Grand Vacation Club Las Vegas Blvd
Grand Colorado on Peak 8
Spinnaker French Quarter Resort Branson
Perhaps this goes without saying, but strictly from a contract law point of you, if the resort is not available because of Covid natural disaster or something else, they have breached their contract for you to provide you accommodations. You should get everything back. Same with RCI. And this would be regardless of whatever contract they say you sign. They just can’t get out of it on a contract basis. That is a matter of public policy. You might have to check your own states laws on this.
I don’t believe this is correct, but I’d need to read some of the fine print of an exchange, or what you as an exchanger agree too as part of the exchange process. Examples would be resorts closed secondary to hurricanes, which happens with some regularity. Cruise lines also would be an example. Cruises are the one time we ALWAYS buy travel insurance and, we’ve used it twice. Without it we’d have lost some or all of our money.

Let’s say your renting an owned week. Typically part of that contract spells out the risk assumed by each party. If I was renting, I’d make certain the renter assumed the risk and not me.
 

tschwa2

TUG Review Crew: Veteran
TUG Member
Joined
Dec 19, 2008
Messages
13,646
Reaction score
3,008
Points
548
Location
Maryland
Resorts Owned
A few in S and VA, a single resort in NC, MD, PA, and UT, plus Jamaica and the Bahamas
I asked interval about the value of an exchange if you purchased Allianz insurance and cancelled for a covered reason. I did let him know I planned to share the answer on TUG.

Thank you for your email. If a member purchased insurance through Allianz for an Interval International transaction and are canceling for a covered reason, then the compensation provided by the insurance company is of a monetary value. The value is based on the information provided in the claim by the member. Please keep in mind, Interval transactions are valued at $1000.00. For information regarding covered reasons, please contact Allianz directly.

Sincerely,

Mark Delcampo
Sr. Social Media Correspondent
Interval International


So I think the exchange including the week/points and fees are valued at $1000 plus any other non refundable expenses.
 

tschwa2

TUG Review Crew: Veteran
TUG Member
Joined
Dec 19, 2008
Messages
13,646
Reaction score
3,008
Points
548
Location
Maryland
Resorts Owned
A few in S and VA, a single resort in NC, MD, PA, and UT, plus Jamaica and the Bahamas
That seems to contradict itself. First they state it is based on information provided in the claim, but then states they are valued at $1000. Which is it?
Based on some old posts, or past times when I had insurance but I couldn't find the documentation, it was $1000 was the max. So if you tell them you paid $425 for MF's they could give you less but if you paid more than $1000, then $1000 was the max. Or it could mean that $1000 was what they paid out for the exchange but you could have a higher total claim based on non refundable car/air, etc.
 

dioxide45

TUG Review Crew: Expert
TUG Member
Joined
May 20, 2006
Messages
33,894
Reaction score
7,366
Points
899
Location
NE Florida
Resorts Owned
Marriott's Grande Vista
Marriott's Harbour Lake
SVV - Bella
SVV - Key West
Based on some old posts, or past times when I had insurance but I couldn't find the documentation, it was $1000 was the max. So if you tell them you paid $425 for MF's they could give you less but if you paid more than $1000, then $1000 was the max. Or it could mean that $1000 was what they paid out for the exchange but you could have a higher total claim based on non refundable car/air, etc.
Max would make sense, and maximums are often indicated in the policy limits.
 

boraxo

Guest
Joined
Aug 11, 2020
Messages
61
Reaction score
23
Points
18
Resorts Owned
Villa Resorts (Mexico); considering Hyatt
So how much are the premiums for a policy that has a $1k max payout limit?
 

dioxide45

TUG Review Crew: Expert
TUG Member
Joined
May 20, 2006
Messages
33,894
Reaction score
7,366
Points
899
Location
NE Florida
Resorts Owned
Marriott's Grande Vista
Marriott's Harbour Lake
SVV - Bella
SVV - Key West
So how much are the premiums for a policy that has a $1k max payout limit?
For getaways, it looks like it varies by the getaway price. Looks like it may be about 10% of the getaway price.
I am not sure about exchanges, it may be a flat price.

That said, the $1000 max may just be for accomodation. The policy may cover additional travel expenses.
 

tschwa2

TUG Review Crew: Veteran
TUG Member
Joined
Dec 19, 2008
Messages
13,646
Reaction score
3,008
Points
548
Location
Maryland
Resorts Owned
A few in S and VA, a single resort in NC, MD, PA, and UT, plus Jamaica and the Bahamas
Yes, I want to protect my trip for $86.00 total.
*Exchanges are valued at $1,000 for trip cost purposes.

Protection that travels wherever you go. Benefits include:
  • More flexibility: Reimburses up to 100% for covered trip cancellation, interruption, and eligible travel delay expenses
  • Peace of mind: Insurance for lost, stolen, damaged or delayed personal belongings
  • Reliable benefits: Protection for covered emergency medical care and transportation during your trip
  • Help when you need it: 24/7, award-winning travel and emergency assistance services
  • NEW Epidemic Benefits: Get reimbursed up to 100% for certain expenses if you or a family member gets sick with COVID-19 (see link below)

Benefits
Coverage (per person)
Trip Cancellation CoverageUp to 100% of trip cost ($20,000 max.)
Trip Interruption CoverageUp to 150% of trip cost ($30,000 max.)
Emergency Medical/Dental Coverage$50,000 ($750 Dental Coverage max.)
Emergency Transportation Coverage$500,000
Travel Delay Coverage$1,200 (Daily max.:$200 with receipts; $100 without receipts) - Minimum Required Delay - 5 hours
Baggage Loss Coverage$1,500 ($500 High Value Item max.)
Baggage Delay Coverage$200 ($100 no receipts max.) - Minimum Required Delay - 12 hours
Change Fee Coverage$500
Loyalty Program Redeposit Fee Coverage$500
Travel Accident$10,000
ConciergeIncluded
24 Hour AssistanceIncluded
Pre-existing Medical Condition Exclusion WaiverAvailable
 

dougp26364

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
13,254
Reaction score
1,443
Points
498
Location
Kansas
Resorts Owned
Marriott Grand Chateau
Marriott Shadow Ridge
Marriott Ocean Pointe
Marriott Destination Club Points
Hilton Grand Vacation Club Las Vegas Blvd
Grand Colorado on Peak 8
Spinnaker French Quarter Resort Branson
Yes, I want to protect my trip for $86.00 total.
*Exchanges are valued at $1,000 for trip cost purposes.

Protection that travels wherever you go. Benefits include:
  • More flexibility: Reimburses up to 100% for covered trip cancellation, interruption, and eligible travel delay expenses
  • Peace of mind: Insurance for lost, stolen, damaged or delayed personal belongings
  • Reliable benefits: Protection for covered emergency medical care and transportation during your trip
  • Help when you need it: 24/7, award-winning travel and emergency assistance services
  • NEW Epidemic Benefits: Get reimbursed up to 100% for certain expenses if you or a family member gets sick with COVID-19 (see link below)

Benefits
Coverage (per person)
Trip Cancellation CoverageUp to 100% of trip cost ($20,000 max.)
Trip Interruption CoverageUp to 150% of trip cost ($30,000 max.)
Emergency Medical/Dental Coverage$50,000 ($750 Dental Coverage max.)
Emergency Transportation Coverage$500,000
Travel Delay Coverage$1,200 (Daily max.:$200 with receipts; $100 without receipts) - Minimum Required Delay - 5 hours
Baggage Loss Coverage$1,500 ($500 High Value Item max.)
Baggage Delay Coverage$200 ($100 no receipts max.) - Minimum Required Delay - 12 hours
Change Fee Coverage$500
Loyalty Program Redeposit Fee Coverage$500
Travel Accident$10,000
ConciergeIncluded
24 Hour AssistanceIncluded
Pre-existing Medical Condition Exclusion WaiverAvailable
On the surface this looks pretty good, but remember the fine print as to what’s covered and what’s not. For instance, we were stranded once due to a fisherman’s strike blocking the port. On the surface, our insurance covered strikes. In the fine print, only SPECIFIC strikes, which did NOT include a fisherman’s strike that blocked entry into the port. They did not reimburse the cost of airfare in this instance. The result was we were out $1,800. They did cover the hotel, taxi to/from the airport and meals.

Now let’s look at all the benefits. Except the cost of the exchange, valued at $1,000, the majority of these are covered by other means, so they’re really not much of a benefit. Often times they’re secondary, so they only pay out if there’s no other coverage available.

Then there’s that $1,000 valuation. Most of my MF’s are in the $1,500 to $2,500 range. That’s not exactly full coverage. I’d be better off with a replacement week in most situations IF I can get one.

Now let’s look at the mileage, or cost vs risk. This will be different for everyone.

We’ve been timeshare owners for 25 years and average 4 full timeshare week vacations per year plus a few weekend trips, but let’s just look at the full week vacations. I believe the insurance cost has gone up a little over time, but so has the valuation of the week, so let’s just say $85 per reservation.

4 X 25 = 100
85 X 100 = 8,500
I know I’ve lost at least one week due to the pandemic, but other than that I can’t think of another week for certain, but let’s add another one in there anyway.
2 X 1,000 = 2,000

Buy insurance $8,500 - $2,000 (benefit payout IF it’s one of 20 covered reasons) = $6,500.

So if I bought the insurance, the true cost (cost - benefit pay out) is $6,500 paid $85 per reservation. It seems small per transaction but is costly over time. This is why I say the cost outweighs the benefit for us. I understand that I’ll suffer the “big” loss occasionally, but that cost is less than the guaranteed cost (premium) when it comes to assumed risk.

It’s also the reason I decline rental car protection every time I rent a car.

Everyone e needs to asses their risk tolerance. Risk losing the vacation week or risk buying the cost of insurance that will pay in all likelihood a portion of your weeks MF’s. If you tend to frequently travel to hurricane prone regions during high hurricane risk season, it’s probably worth the cost of insurance. If your traveling to Lake Tahoe during fire season, based on historical resort closures, I’d say your typically better off assuming the risk. Based on pandemic closures? It’s likely that the insurance is a reasonable purchase at this time as there is so much uncertainty, but I’m far enough ahead that I’m still willing to assume the risk myself, plus the exchange companies and management companies have shown so member/owner goodwill by offering some compensation in the form of replacement weeks or replacement points. Yes there are restrictions so it’s not FULL value, but the insurance isn’t typically full value either.
 
Top