We had a trip planned to PV for mid January and my husband had significant back problems so we had to cancel the whole trip. This was our annual snowbird trip and we were supposed to be gone for 7 weeks- all T/S. A couple of weeks we own and 5 were exchanges.
We have had VG for several years, but this was the first time we actually had to use it. The weeks we owned were easy to value, since we could redeposit them with the resort for next year and only had to pay a cancellation/redeposit fee. But I wasn't sure how VG would handle the valuation of the exchange maintenance fees since RCI gives you back a percentage of your TPUs depending on when you cancel. I assigned a value to those TPUs based on our maintenance fee and calculated the amount we lost plus the exchange fees. VG paid the full amount of my request, which was great. I provided a lot of documentation and it took about 6 weeks, but I got the check yesterday.
As far as I know, VG is the only insurance to cover timeshare maintenance and exchanges. It is an annual policy and I will be renewing it for next year when the time comes.
We have had VG for several years, but this was the first time we actually had to use it. The weeks we owned were easy to value, since we could redeposit them with the resort for next year and only had to pay a cancellation/redeposit fee. But I wasn't sure how VG would handle the valuation of the exchange maintenance fees since RCI gives you back a percentage of your TPUs depending on when you cancel. I assigned a value to those TPUs based on our maintenance fee and calculated the amount we lost plus the exchange fees. VG paid the full amount of my request, which was great. I provided a lot of documentation and it took about 6 weeks, but I got the check yesterday.
As far as I know, VG is the only insurance to cover timeshare maintenance and exchanges. It is an annual policy and I will be renewing it for next year when the time comes.
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