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Last year, for the first time, I had a timeshare insurance policy with VacationGuard. It expired at the end of 2015 and I thought it was weird that they had not asked me to renew. I called and found out that Berkshire Hathaway has now taken over the product.
After much discussion with the rep, I discovered that a new policy would only cover 2016 weeks I had not deposited with RCI yet. The rep said even if I am traveling in 2016, the policy would not pay out on exchanges that had been made using 2015 weeks.
I said that that did not make much sense, yada yada, and the rep politely said that if I were to file a claim on a 2016 trip, their claims department would research it and determine what the source week was, and they might or might not pay up depending on their findings.
Is this everyone's understanding of "timeshare insurance"? Is this product in any way useful to anyone?
BTW, my 2015 policy with VacationGuard cost $159, and the new Berkshire Hathaway policy would cost $299.
After much discussion with the rep, I discovered that a new policy would only cover 2016 weeks I had not deposited with RCI yet. The rep said even if I am traveling in 2016, the policy would not pay out on exchanges that had been made using 2015 weeks.
I said that that did not make much sense, yada yada, and the rep politely said that if I were to file a claim on a 2016 trip, their claims department would research it and determine what the source week was, and they might or might not pay up depending on their findings.
Is this everyone's understanding of "timeshare insurance"? Is this product in any way useful to anyone?
BTW, my 2015 policy with VacationGuard cost $159, and the new Berkshire Hathaway policy would cost $299.
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