Vacation Guard "Timeshare Plus" insurance coverage may not be available to you...

[theo]

I have historically purchased this coverage each year as a "hedge" against the loss of use of our timeshare weeks in the event of unexpected medical situation or family emergency, etc. Since all of our timeshares are within the U.S. and all are within driving distance, the potential "loss" I've sought to insure against is not air fares and lodging, etc., but the maintenance fees pre-paid for weeks unable to be used. We have never filed a claim (knocking on wood), but have always figured that a $200 bet to cover nearly $5k in lost maintenance fees was / is a bet I am willing to place. Just tried to "re up" today for 2016 --- and that's where my story gets a bit strange...

On October 28, 2015 Vacation Guard insurer has reportedly been changed from TransAmerica to "Berkshire Hathaway Travel Protection" (whatever on earth that may be). Apparently, this change requires the approval of each individual state regulatory agency in order for coverage to be offered / available to residents of that state.

Bottom line is that as of right now, I cannot buy this insurance at all, since my state has yet to issue whatever "approval" of BHTP is required. I don't even know if the new "flavor" of coverage from "BHTP", if ultimately approved at all by my state, will cover maintenance fee loss (the one and only cost loss that I seek to insure against).

Just mentioning this in case you unexpectedly find yourself in the same boat of attempting to renew a Vacation Guard "Timeshare Plus" policy, purchased for numerous successive prior years, perhaps just expecting the customary and usual premium increase but finding instead that the policy is currently not available at all. If / when later available for purchase, it may also very well be an entirely different animal not even worth purchasing in the first place (that's yet to be determined). For us, if the new "BHTP flavor" policy doesn't cover maintenance fee loss, then it's essentially worthless (to us, anyhow), regardless of the premium cost. YMMV.

 

[WinniWoman]

Oh. no! I always get this as well to cover our maintenance fees! I talked to someone there last year and he said because the premiums had been rising so much he was going to design a plan that had graduated rates depending on how many weeks a person owned instead of just spreading the costs amongst all customers no matter what they owned.

I am going to check the website, but I think you actually have to wait until January 1st to obtain a policy.

 

[pedro47]

I was not aware of this change.

 

[theo]

<snip> I am going to check the website, but I think you actually have to wait until January 1st to obtain a policy.

In my experience over some years, that was never the case. I always obtained (and paid for) the policy well in advance of the commencement of the new calendar year, getting a coverage period for the full calendar year approaching.

If your state is one for which "approval" has not yet been obtained, you'll likely discover that obstacle if / when you attempt to proceed on the web site. That's exactly how I first discovered that something was clearly amiss. That being said, the required approval has (reportedly) already been obtained from many states.

"Approval" aside, what I really want to know is exactly how "Berkshire Hathaway Travel Protection" coverage differs from what was formerly an insurance company policy.
When I think of "Berkshire Hathaway", I somehow think of Warren Buffet, venture capital, etc. --- not actual insurance. I guess we shall see...

 

[WinniWoman]

I went on the website and it said it is not active or doesn't exist for NYS. UGH!

Are there any other companies that insure timeshares? I wonder if CSA does?

 

[WinniWoman]

I dug this up- something I book marked a long while ago. Anyone know anything about this plan? It looks like it was connected to CSA but not sure....

http://www.csatravelprotection.com/benefitTimeShare.do

 

[theo]

I dug this up- something I book marked a long while ago. Anyone know anything about this plan? It looks like it was connected to CSA but not sure....

http://www.csatravelprotection.com/benefitTimeShare.do

There are (...or were) certainly lots of different trip / travel insurance plans available out there; through Allianz, CSA and multiple others. The unique feature of the "Timeshare Plus" plan offered within Vacation Guard is / was that it covers (...or at least used to cover) lost maintenance fees in emergency situations. I don't recall previously seeing other policies which offered this particular very specific coverage; thank you for this CSA reference, which certainly warrants further examination and research. I don't yet have any idea what the new "Berkshire - Hathaway Travel Protection" product actually offers, but I am frankly not at all optimistic.
Investor return focused Berkshire Hathaway as a profit seeking enterprise simply does not give me much of a "warm and fuzzy feeling" as a consumer.

For us, owning and using six consecutive weeks, multiple lost maintenance fees due to unexpected last minute emergency situation(s) would be the most significant financial hit in interrupted travel plans. For us, everything else travel-related would be relatively painless to just absorb. YMMV.

I see that there is a toll free phone number (866-321-3001) embedded in very small print within your (undated) material. When time permits, I will try to call and hopefully gain more information to see if this policy still even exists at all, in which states (and through whom) it might be available, what maximums it might inherently impose on m.f. coverage --- and the policy premium. If you manage to learn any of this info first, sharing same here for the benefit of others would certainly be greatly appreciated.

 

[GrayFal]

Oh. no! I always get this as well to cover our maintenance fees! I talked to someone there last year and he said because the premiums had been rising so much he was going to design a plan that had graduated rates depending on how many weeks a person owned instead of just spreading the costs amongst all customers no matter what they owned.

I am going to check the website, but I think you actually have to wait until January 1st to obtain a policy.

This insurance has never been open to NY State residents. I joined several years ago -they took my premium money - but when I read the information about the policy I realized they would not honor any claim from me as NY was excluded.

I contacted them and they refunded my money.

 

[theo]

This insurance has never been open to NY State residents. I joined several years ago -they took my premium money - but when I read the information about the policy I realized they would not honor any claim from me as NY was excluded.

I contacted them and they refunded my money.

It's a real curiousity to me that the identical insurance policy and coverage might be available to residents of some states, but not others. Whassup with that?

Presumably, it has something to do with "approval" of the insurer by state insurance commission or similar regulatory body, but is still tough to comprehend.

 

[SMHarman]

It's a real curiousity to me that the identical insurance policy and coverage might be available to residents of some states, but not others. Whassup with that?

Presumably, it has something to do with "approval" of the insurer by state insurance commission or similar regulatory body, but is still tough to comprehend.

Bingo. State's Insurance Commissioners. All of them get to assess and opine on the financial solvency of the insurer. Insurance is a state not federal matter. Think about how medical insurers could not sell across states.

So same poilcy. Different insurance carrier (check book / reserves) that need to be approved 50 times over and in DC.

Never know it might be available in NYS with the new carrier.

 

[Jason245]

It's a real curiousity to me that the identical insurance policy and coverage might be available to residents of some states, but not others. Whassup with that?

Presumably, it has something to do with "approval" of the insurer by state insurance commission or similar regulatory body, but is still tough to comprehend.

Don't get me started. .Florida is one if the only states where you can't buy an extended car warranty from another state (like toyota care) online and save big money ... grrrr

Sent from my SAMSUNG-SM-N910A using Tapatalk

 

[WinniWoman]

There are (...or were) certainly lots of different trip / travel insurance plans available out there; through Allianz, CSA and multiple others. The unique feature of the "Timeshare Plus" plan offered within Vacation Guard is / was that it covers (...or at least used to cover) lost maintenance fees in emergency situations. I don't recall previously seeing other policies which offered this particular very specific coverage; thank you for this CSA reference, which certainly warrants further examination and research. I don't yet have any idea what the new "Berkshire - Hathaway Travel Protection" product actually offers, but I am frankly not at all optimistic.
Investor return focused Berkshire Hathaway as a profit seeking enterprise simply does not give me much of a "warm and fuzzy feeling" as a consumer.

For us, owning and using six consecutive weeks, multiple lost maintenance fees due to unexpected last minute emergency situation(s) would be the most significant financial hit in interrupted travel plans. For us, everything else travel-related would be relatively painless to just absorb. YMMV.

I see that there is a toll free phone number (866-321-3001) embedded in very small print within your (undated) material. When time permits, I will try to call and hopefully gain more information to see if this policy still even exists at all, in which states (and through whom) it might be available, what maximums it might inherently impose on m.f. coverage --- and the policy premium. If you manage to learn any of this info first, sharing same here for the benefit of others would certainly be greatly appreciated.

This one- the link I provided- covers maintenance fees. And-yes- certainly- when I get a chance to call I will relay any info I get here. I use CSA for timeshare rentals and other trips, but I have never used them for this type of insurance as I was already using Vacation Guard.

 

[GrayFal]

This one- the link I provided- covers maintenance fees. And-yes- certainly= when get a chance to call will relay any info I get here. I use CSA for timeshare rentals and other trips, but I have never used them for this type of insurance as I was already using Vacation Guard.

What I was trying to say above is that Vacatiin Guard will take your money but does not provide coverage to people in NY. (Do you live in NY as your information states?)

When you call them, see if you are in fact eligible. If not, request a refund.
My money was returned to me. '

 

[WinniWoman]

What I was trying to say above is that Vacatiin Guard will take your money but does not provide coverage to people in NY. (Do you live in NY as your information states?)

When you call them, see if you are in fact eligible. If not, request a refund.
My money was returned to me. '

OMG! Really? Thanks! I have been buying it all these years for nothing?! That is crazy! I am going to have to call them- it is weird because I had that whole conversation with them about the rates rising and so forth. They knew I lived in NY. This is nuts! I wasted an awful lot of money! I guess it was a good thing I didn't need to make a claim!

 

[theo]

This one- the link I provided- covers maintenance fees. And-yes- certainly- when I get a chance to call I will relay any info I get here. I use CSA for timeshare rentals and other trips, but I have never used them for this type of insurance as I was already using Vacation Guard.

I just called CSA at the above referenced phone number and have learned that:

1. Their policy which includes coverage of timeshare maintenance fees is currently called "Guest Protect".
2. The policy is travel date specific (not annual) and you must specify in advance the dates and m.f. amount you seek to "cover" at the time of application / purchase.
Premium is presumably determined accordingly.
3. Reportedly available to residents of all states (...yes, including NY).
4. Almost 50% more expensive than my former annual plan with Vacation Guard, but still under $300.

This might work for us since our travel involves six consecutive weeks. May not be particularly useful or applicable for those taking multiple, disjointed trips however.

I have not yet reviewed the "covered reasons" for trip interruption coverage; supposedly being sent to me shortly by email. I did not proceed with acquiring the policy --- and won't do so until such time as I have received and closely reviewed those "covered reasons".

 

[WinniWoman]

I also called CSA, but the rep said the only timeshare coverage they have is through arrangements with certain exchange companies and not with private timeshare owners! Hence that link I came upon. Hmmm.....I guess I have to make another call since Theo got different information.

I also called Vacation Guard and they said that people who reside in NY were covered under all the past policies, just not under the new ones issued starting this October by Berkshire Hathaway. Those do not cover NY residents as of now.

When I did a Guest Protect quote online it came out to $89 for my two consecutive weeks. I also would have a third week to insure. But, actually, my Vacation Guard coverage had been up to over $200 this last year.

 

[bellesgirl]

What about RCI exchanges

Does CSA cover exchanges or just maintenance fees to your home resort?

Determining "Use Years" gets complicated with exchanges and even more complicated now with RCI allowing combining and extending. I just got off the phone with Vacation Guard, the old company and the new one, to determine who would cover my upcoming RCI exchanges should I need to cancel.

I am going on a seven week RCI exchange trip in 2016 which uses some weeks from 2014 and some from 2015. Apparently I am covered on the old policy for my 2014 weeks and would have to buy a new policy for the 2015. I also found out my old annual policy is actually good for two years and will cover my 2014 weeks until November 2016. I am not sure it is worth $300 at this point to cover 2015 since I can restore my trading power for $89 per week and would only lose the exchange fees.

If you are confused, that's ok, because so am I.

 

[WinniWoman]

I just sent an email to CSA to clarify if they have a timeshare plan or not since the rep I talked to said they do not have this plan.

 

[GrayFal]

I also called CSA, but the rep said the only timeshare coverage they have is through arrangements with certain exchange companies and not with private timeshare owners! Hence that link I came upon. Hmmm.....I guess I have to make another call since Theo got different information.

I also called Vacation Guard and they said that people who reside in NY were covered under all the past policies, just not under the new ones issued starting this October by Berkshire Hathaway. Those do not cover NY residents as of now.

When I did a Guest Protect quote online it came out to $89 for my two consecutive weeks. I also would have a third week to insure. But, actually, my Vacation Guard coverage had been up to over $200 this last year.

Interesting info from Vacation Guard. Not what I was told and as I said, they refunded my money when I brought it to their attention. It was a great policy as it covered I believe up to 90 days/13 weeks of TSing a year.

 

[theo]

I just sent an email to CSA to clarify if they have a timeshare plan or not since the rep I talked to said they do not have this plan.

Fwiw, my clear understanding from my conversation with CSA this morning was that while they do not specifically have a "timeshare plan", per se, their "Guest Select" policy is supposedly one of broad based coverage that also includes timeshare maintenance fees if / when specified in advance by dollar amount and date. I did not ask (or care) about "exchanges". I am quite certain that this is exactly what was expressed to me, although less certain that was was expressed to me was factually correct.

I have received (but have not yet reviewed) the "covered reasons" (for trip interruption or trip cancellation) email from CSA, but it was accompanied by a very explicit prohibition against posting / duplicating that material elsewhere, so I cannot and will not "copy and paste" that material onto these TUG forums.

 

[BocaBoy]

When I think of "Berkshire Hathaway", I somehow think of Warren Buffet, venture capital, etc. --- not actual insurance.

Well, this is indeed actual insurance. One of Berkshire Hathaway's largest businesses is insurance. The most well known insurance company under their umbrella is GEICO. Berkshire is not into venture capital. Buffett primarily buys or takes large positions in well established businesses.

 

[WinniWoman]

My husband has life insurance from Berkshire Hathaway.

 

[WinniWoman]

Fwiw, my clear understanding from my conversation with CSA this morning was that while they do not specifically have a "timeshare plan", per se, their "Guest Select" policy is supposedly one of broad based coverage that also includes timeshare maintenance fees if / when specified in advance by dollar amount and date. I did not ask (or care) about "exchanges". I am quite certain that this is exactly what was expressed to me, although less certain that was was expressed to me was factually correct.

I have received (but have not yet reviewed) the "covered reasons" (for trip interruption or trip cancellation) email from CSA, but it was accompanied by a very explicit prohibition against posting / duplicating that material elsewhere, so I cannot and will not "copy and paste" that material onto these TUG forums.

It's amazing how different reps at CSA and Vacation Guard have given out different information. The CSA rep I spoke to said they do not cover maintenance fees, just other things associated with the timeshare vacation, like airfare.

And- the Vacation Guard person specifically told me NY'ers were covered in the policies prior to Berkshire Hathaway. I checked my policy and do not see any exclusions for residents of NYS. In fact, under "Who Is Eligible for Coverage" it states '...anyone who takes a covered trip, pays for the plan and is a citizen of the USA".

Not for anything, our name and address are on the policy and I don't think if we had a claim and they suddenly said a resident of NYS is not covered it would hold up in court, since it shows they issued the policy knowing we lived in NYS. Anyway- doesn't matter now. The year is over. Now need to see if can do anything for next year!

UGH! Keep us posted, Theo!

 

[theo]

I have scrutinized the entire "Description of Coverage" for the CSA "Guest Protect" insurance policy, number G-330CSA.
The first thing I must point out is a verbatim quote for residents of some specifically identified states (among which mine is not listed, so I have not dug any deeper):
-------------------------------------------------------------------------------------------------------------------------------------------------------
"Notice to residents of AK, GA, SD, OH, LA, CO, MN, WA, WY, IN, NY, KS, OR, TN. This document is for informational purposes only. To obtain your state specific insurance policy, please call (866) 999-4018 or visit http://www.csatravelprotection.com/certpolicy.do"
-------------------------------------------------------------------------------------------------------------------------------------------------------

The DESCRIPTION OF COVERAGE is 51 columns in total, printing out to 18 pages. You'll have to obtain and review the full document for yourself directly from CSA (just as I did, with a single phone call). Meanwhile, noteworthy is language quoted verbatim below, in directly pertinent part, from column 11, defining "Payments":

"PAYMENTS means the cash, check, credit card amounts paid for your Trip, including but not limited to reservation costs, timeshare exchange fees, ownership dues (not including the cost of your vacation ownership) and maintenance fees. {there are then a few more sentences, addressing "Points" as "currency"}.

So, it certainly seems plain enough to me that maintenance fees are indeed covered by this particular policy --- unless those enumerated states initially mentioned somehow have exceptions to that clear language. That particular state-specific detail you will have to independently obtain and ascertain on your own.

I hope this helps. I for one am not going to get involved with Vacation Guard / "Berkshire Hathaway Travel Protection" until such time as they get all of their "pending state approval" matters completely straightened out (...and maybe not even then, quite frankly).

 

[WinniWoman]

Thanks, Theo! I am waiting for the email response from CSA since I was told they do not have this type of insurance for private timeshare owners (in any state), just for some exchange companies' clients.