Timeshare Owners To Have Vacation Guarantee

Avant Insurance Managers, an insurance management company dedicated to developing risk protection solutions for the timeshare industry, has introduced a VacationGuarantee™ program. The VacationGuarantee program, which has been in development for several years, will be offered on an annual basis through selected developers, homeowners’ association, and the Internet.

"I’m delighted the way is now clear to offer this product," says Jeff Post, Avant’s president. A 2004 federal lawsuit filed in a Nevada district court had forced Post to delay the product’s rollout for nearly a year, but U.S. District Court Judge Roger L. Hunt in December rendered a directed verdict in Avant’s favor, saying the suit had no merit. "The court recognized Avant as the concepts’ originator, and now we can get back to the business of providing a valuable insurance program to timeshare associations and their owners," Post says. "The Asian tsunami and last fall’s Florida hurricanes have underlined the urgent need for this program."

VacationGuarantee coverage protects timeshare and fractional owners from loss of ownership and travel expenses any time they have a confirmed reservation through their resort, club, or exchange company. VacationGuarantee coverage includes trip cancellation and interruption insurance, and owner legal liability features, plus many other benefits. Available coverage includes emergency road service, baggage, unit owner property, as well as sports equipment, such as golf clubs and skis, which is usually excluded from travel insurance products. Premiums for minimum core coverage start at $39 per week of ownership.