Trading Power Protection - Your Thoughts?

[FlaKmunKy]

Most of the confirmations cancelled (%70) are cancelled within 2 weeks of the start of the vacation (from what I have been told) which means those people would only get 45 percent back.

RCI is doing a new thing. 31 days after you book your vacation you are eligible for Trading Power Protection 2 which gives you all your trading power back. (The $49 protection can be purchased at that price up to 30 days after you book it) It is $89 and can be purchased up to the day of the vacation. So lets say you dont regularly get the protection... you can now add it last minute and get all your trading power back still (although it will cost you more)

 

[MLR]

Trouble is - you USED to have your fees protected too!

We always had 30 days after booking to purchase protection - but the protection protected MORE than just trading power. Sure, they gave you your trading power back on a sliding scale (and if it is true that most people cancelled within two weeks - then most would get all their trading power back anyway) but you ALSO GOT YOUR EXCHANGE FEE BACK as a credit towards your next booking/vacation.

Now you lose all your money and keep only the trading power. So - the plan is not nearly as good or user friendly as it used to be. Just another way to 'raise fees' without actually raising fees. Just like when they say WE WON'T RAISE TAXES we will just nix all your deductions. Still equals the same thing :0(

 

[MichaelColey]

(and if it is true that most people cancelled within two weeks - then most would get all their trading power back anyway)

I think he was saying that most cancel within 2 weeks of the check-in date, not the date they made the exchange. If it's for health or other last minute issues, I could see that. And if you only get 45% back, I can see where it might be worthwhile with high TPU exchanges and if your TPU cost is high.

But still... If your average exchange is 20 TPU and you value TPUs at $10, that's $110 difference (100% is $200 while 45% is $90). To make the math simple, if the protection was $55, you would have to cancel half of the time to break even.

 

[MLR]

Michael - I think your brain works better than mine :0)



DUH - Cancelling within two weeks of departure makes more sense. I think you may be correct there :0)

Since we care for an older parent, we usually buy the insurance. Have only used it once and thankfully that was when we got our points AND exchange fees back.

They just figured out a way to make extra $$ on each cancellation. You are kinda between a rock and a hard place if you feel you NEED to have it. But I certainly wouldn't bother unless I was using quite a few points.

 

[karibkeith]

Is there a decent alternative? I know this will probably generate some 'discussion' - but I am just interested in something that allows a decent choice as well as SOME PROTECTION for the consumer.

If you take a package, or assemble your own (Resort booking plus airfare, etc.), you can usually get insurance directly or with your credit card coverage. However, I know of no insurance for recovery of maintenance fees. What I want is insurance that covers the whole cost of a timeshare vacation if cancelled. This would be tricky to recover trading power obtained by exhanging time paid with maintenance fees, but I am sure some innovtive insurer coud come up with something. Perhaps a standard amount for a week.
Does anyone know of such comprehensive insurance?

 

[MLR]

insuring TS trip

I find it difficult to insure via normal trip cancellation insurance policy due to the fact that we often book TS well in advance of purchasing airfare and I am thinking that you must purchase insurance within a certain amount of time from 'paying for trip.'

If someone has sorted this sort of thing out and can clarify just HOW to insure the True Cost of a timeshare vacation - sure would like to know about it. Previously we insured TS and points by purchasing RCI insurance - but it no longer covers FEES - they are lost and if you book two weeks - you have lost nearly $200. :0(

Airfare is easy to cover either through airline insurance or buying a separate policy (we buy health and evac coverage along with covering cost of airfare).

Guess, I could call someone directly and ask, ha ha! Might be a good first step unless someone else had addressed this already.

 

[armrecsys]

cancel exchange protection nolonger for your money no longer exit

Hi, everyone. I have a question about what RCI members might think of the new option to purchase trading power protection with their exchanges. Just in case someone here doesn't know what this is, I'll give you a brief description. Basically, you pay $49 US for the trading power protection. If you cancel or change your exchange outside of the 24 grace period RCI gives you to change or cancel your exchange without penalty, you get back ALL of the trading power used to confirm that exchange. The reason for canceling or changing doesn't matter, you get your trading power back no matter what. Now, the caveat is that you don't protect your exchange fee with trading power protection. If you want to pay more money to protect BOTH the trading power AND your exchange fee, there's still the option to obtain vacation protection, which costs $89 US. However, when you change or cancel your exchange, the money used for the exchange fee is returned as a credit to your RCI account. You then have 6 months to rebook your exchange. Obviously, you don't necessarily need to travel within 6 months, you just need to rebook the trip. Can anyone tell me if they like either product? I'm seeking feedback tee if it's preferable to use one over the other. Or perhaps it's better to just only pay the exchange fee D

 

[MLR]

Pretty sure this was how it ''USED'' TO WORK - but no longer

Hi, everyone. I have a question about what RCI members might think of the new option to purchase trading power protection with their exchanges. Just in case someone here doesn't know what this is, I'll give you a brief description. Basically, you pay $49 US for the trading power protection. If you cancel or change your exchange outside of the 24 grace period RCI gives you to change or cancel your exchange without penalty, you get back ALL of the trading power used to confirm that exchange. The reason for canceling or changing doesn't matter, you get your trading power back no matter what. Now, the caveat is that you don't protect your exchange fee with trading power protection. If you want to pay more money to protect BOTH the trading power AND your exchange fee, there's still the option to obtain vacation protection, which costs $89 US. However, when you change or cancel your exchange, the money used for the exchange fee is returned as a credit to your RCI account. You then have 6 months to rebook your exchange. Obviously, you don't necessarily need to travel within 6 months, you just need to rebook the trip. Can anyone tell me if they like either product? I'm seeking feedback tee if it's preferable to use one over the other. Or perhaps it's better to just only pay the exchange fee D

ALMOST CERTAIN that this is how is 'used' to work - but it no longer works that way. NOW - the $89 fee ONLY COVERS your points - you lose, lose, lose your exchange fees :0( If you aren't sure - give them a call. You will get the same disappointing news that we did.

 

[MLR]

check RCI

http://pgs.rci.com/landing/ptr/vacationprotection/index.html?promo=VANNAENUSPP2RVacaPro

$49 to protect POINTS if you buy right away at booking time.
$89 if you buy after 30 days and up to two weeks prior to trip.

hope this helps.

 

[armrecsys]

No return on your money

I may be wrong, but I think the $49 option is new. It only insure the TPU not the exchange fee.

You are right I was just one day out of the terms and I did not get my money back. Ism not I happy, I look for trades a year out , but realize that things may chage so t brought the insurance not under standing that , it i would not get my money back.

 

[MLR]

I am sorry you lost your $$ - that's a shame!

the change in the insurance is a real bummer. They said it was due to so many people REQUESTING the change! HOG WASH! They said people were insuring their trips with trip cancellation insurance. I don't even know how in the world one would calculate the 'value' of a week or two at a time share when everyone's points are worth differing amounts and you use points AND exchange fees.

If anyone has done this and knows a company that would work with one as far as insuring the value with trip cancellation insurance - PLEASE POST HERE!! OR share a link or something.

We routinely insure our airfare and health - but used RCI to insure the timeshare.

 

[armrecsys]

Rci sinks

http://pgs.rci.com/landing/ptr/vacationprotection/index.html?promo=VANNAENUSPP2RVacaPro

$49 to protect POINTS if you buy right away at booking time.
$89 if you buy after 30 days and up to two weeks prior to trip.

hope this helps.

I think you ate wrong , I think no more insurance on getting your money back. I have been with rci for 27 years . This is the first time I might starting looking at other exchange companys

 

[MLR]

Feel the same way :0(

I think you ate wrong , I think no more insurance on getting your money back. I have been with rci for 27 years . This is the first time I might starting looking at other exchange companys

There's probably nothing better out there and THEY KNOW IT :0(

But shame on RCI for not giving people an OPTION to cover their fees at add'l cost, even.

 

[armrecsys]

No longer making long range plans

i. Did not see any ins. Offored from rci.
I wonder if Interval is still have their insurance on trip trips.?

 

[MLR]

Click on this link for an explanation of what RCI now offers us

i. Did not see any ins. Offored from rci.
I wonder if Interval is still have their insurance on trip trips.?

Originally Posted by MLR View Post
http://pgs.rci.com/landing/ptr/vacat...NUSPP2RVacaPro


It is 'POINTS PROTECTION' only now - not what was available previously. They weren't losing money on us losing our points - they were losing money on having to 'refund' or 'put our fees back into the system for a future trip' - one they KNEW WE WOULD EVENTUALLY BOOK - meaning they'd lose money on our next trip. This way, they still make the money on the FEES which is where they make their money anyway, as far as I can tell. :annoyed:

 

[FlaKmunKy]

http://pgs.rci.com/landing/ptr/vacationprotection/index.html?promo=VANNAENUSPP2RVacaPro

$49 to protect POINTS if you buy right away at booking time.
$89 if you buy after 30 days and up to two weeks prior to trip.

hope this helps.

You can now buy the $89 trading power protection up to the day of check in so if you cancel you get all your trading power back. Mind you this does not apply to points accounts. This applies to weeks accounts on the Tpro buying ability up to the start of the vacation.