Timeshare Insurance: Do You Need It?

timeshare liability insurance programs

Timeshare Insurance: Do You Need It?

If you want to make the most of your trips, then you might want to think about timeshares. Timeshares allow you to vacation in your favorite destination. If you purchase a timeshare, however, you may need to have it insured. Here are the situations where you need timeshare liability insurance programs.

Deeded Ownership

If you have a deeded ownership timeshare, you live in one place a few weeks out of every year. When you are not there, other people will use it. Now, you own the unit and may sell, lease or donate it. If you have this type of timeshare, you need insurance.

Types of Insurance

If you have deeded ownership, then the first insurance you need is title insurance. This ensures that the title for the units is clear and owned by you. Next, you need the deeded timeshare property insurance. This covers your property against weather, vandalism, theft or fire. Another policy that you should consider is the comprehensive policy. This will insure the building and your assets. Likewise, it can pay medical expenses, court costs and cover liability.

If you own a timeshare, you need to consider insurance. While there are some circumstances where you may not need it, if you own a deeded timeshare, then you need to timeshare liability insurance programs as crucial purchases.