Travelex Trip "Insurance", Worth it?

[IMMkXLVI]

I was making theme park reservations for an upcoming Disney trip when I saw an option to add travel insurance. It opened a new age for Travelex and I was able to read some of the terms, conditions and rules for the protection plan but it wasn't clear how they address the issue of points. All references to policy limits regarding coverage(s) are in dollars. This isn't helpful when we consider that DVC is a point based system. I plan to call them and see if they can point me to the written policy and not just give me a verbal answer but I thought someone here may have experience with Travelex and will have insight into how it works, and how it fails.

 

[MICKIMINI]

I have purchased it in the past and thankfully, haven't had to use it. For $99 it was peace of mind. Good luck.

 

[erionm]

If you file a claim for points, you are reimbursed the amount of the annual dues for those points.

 

[IMMkXLVI]

If you file a claim for points, you are reimbursed the amount of the annual dues for those points.

Thanks, that is what I was beginning to think based on the policy documents I read.
If my math is correct, that equates to whatever the dues rate is for your home resort or possibly, if lower probably, the dues for the resort the reservation was made for. Take my home resort of Riviera for example, it's $8.85 per point so this is what they'd reimburse at. While something is better than nothing, it is less than half what DVC charges for one time use points which someone might need to use if a reservation was lost and by extension, points as well. It seems strange that a policy promoted by DVC and geared for members of DVC would have a benefit that doesn't really cover the cost of DVC.

 

[erionm]

Thanks, that is what I was beginning to think based on the policy documents I read.
If my math is correct, that equates to whatever the dues rate is for your home resort or possibly, if lower probably, the dues for the resort the reservation was made for. Take my home resort of Riviera for example, it's $8.85 per point so this is what they'd reimburse at. While something is better than nothing, it is less than half what DVC charges for one time use points which someone might need to use if a reservation was lost and by extension, points as well. It seems strange that a policy promoted by DVC and geared for members of DVC would have a benefit that doesn't really cover the cost of DVC.

It would be the dues rate for the points used to make the reservation.

 

[IMMkXLVI]

It would be the dues rate for the points used to make the reservation.

Thanks. That is disappointing. While the policy cost is negligible, so is the coverage which only negates part of the trip cost, the dues. It doesn't return the points. tradition trip coverage with a cash paid trip covers you for the trip cost so you're made whole and able to book another trip. This coverage doesn't achieve this. Given this is what DVC promotes, I'm doubtful a better plan exists which begs the question, why. Does it because DVC is point based? Does this make it inherently more difficult to assign a cash value? Disney themselves seem to make it easier, with the one time use points. It seems like a good reference for a per-point basis and the increase in benefits paid could be covered by increasing the policy cost. I'd rather pay 2x or possibly even 3x the current $99 if it meant my rip was covered at a more realistic "trip cost" level. It also raises the question of why DVC didn't negotiate terms with Travelex to allow for points to be reinstated/returned but I suspect it has to do with real estate laws and time share rules.

 

[erionm]

Thanks. That is disappointing. While the policy cost is negligible, so is the coverage which only negates part of the trip cost, the dues. It doesn't return the points. tradition trip coverage with a cash paid trip covers you for the trip cost so you're made whole and able to book another trip. This coverage doesn't achieve this. Given this is what DVC promotes, I'm doubtful a better plan exists which begs the question, why. Does it because DVC is point based? Does this make it inherently more difficult to assign a cash value? Disney themselves seem to make it easier, with the one time use points. It seems like a good reference for a per-point basis and the increase in benefits paid could be covered by increasing the policy cost. I'd rather pay 2x or possibly even 3x the current $99 if it meant my rip was covered at a more realistic "trip cost" level. It also raises the question of why DVC didn't negotiate terms with Travelex to allow for points to be reinstated/returned but I suspect it has to do with real estate laws and time share rules.

Unless the trip is at the end of the UY and the points were banked/borrowed, there really wouldn't been a need to file a claim for points if the trip was cancelled prior to check in unless you didn't want to deal with points in holding.

 

[IMMkXLVI]

Unless the trip is at the end of the UY and the points were banked/borrowed, there really wouldn't been a need to file a claim for points if the trip was cancelled prior to check in unless you didn't want to deal with points in holding.

We're new to DVC but already I can see that availability really diminishes the closer you get to the desired check-in date. The points in holding have a 60 day limit on them which can really affect how and where you plan a reservation to use them. It can also, depending on the point levels involved, mean using untainted points on a reservation you'd otherwise not make. I just hope to never find myself in such a scenario but I have to admit, it would be a toss up which is the lesser bad outcome, loss of $12 per point (and by extension, the points themselves) or dealing with the points in holding hassle. There is the option of the Disney Collection but I haven't used it so I have no experience with it, to know if it has a lot of pitfalls that can dictate how you use points in holding.

 

[jekjones1558]

I always buy the insurance. It covers all points in a membership, no matter how many you own. It also covers other things. I haven't read the policy lately but years ago we had to cancel a trip last minute when my DH had a serious illness. The insurance paid for our canceled airline tickets.