Are you renting or do you own a timeshare?
Friday, June 5th, 2009Melissa, Operations Analyst
Many people own timeshares and other people rent timeshares through either a rental agency or directly from the timeshare owner. Recently, we have been asked if this expense can be covered by travel insurance. I have created 3 cases below which will hopefully help you if you are involved in a rented or owned timeshare property.
Are you renting a timeshare from a Realtor or website which specializes in timeshare rentals?
If so, you may want to cover the cost of the rental in case you are unable to travel. These types of rental agencies will give you a receipt and will have rules related to cancellation fees and penalties. If the cost of the timeshare rental is prepaid, non-refundable, you can insure the cost associated with this. Remember to include your airfare and additional prepaid non-refundable travel expenses so that if you are unable to travel for a covered reason (of course), you will be able to recover the entire cost of your trip.
