Following the sad news of Thomas Cook going bust, money.co.uk reveals that one in six travel insurers do not cover airline failure on any of their policies.
Tola Fisher, consumer rights specialist at money.co.uk, comments: Our research has revealed that one in six travel insurance providers do not offer cover for airlines or holiday companies going bust on any of their policies. This means the holidaymaker is left footing the bill for any additional costs caused by delays in getting home. This happens in cases like Thomas Cook going out of business. These costs could include items such as accommodation, food and drink. If they fall outside of the Government and Civil Aviation Authority free repatriation two-week window, it also includes return flights. The cost of these items can soon add up and cause consumers additional money worry on top of what is already a very stressful situation. Our research also revealed that a further half (47%) of insurers only offer scheduled airline failure on some of their products. So we would advise any travellers to triple check their insurance documents if they are worried about situations like this happening in the future.
Salman Haqqi spent 10 years as a journalist reporting in several countries around the world. Salman left the world of journalism and moved to the UK to pursue a passion for personal finance and a desire to help people make informed financial decisions.Read Salman Haqqi's articles and guides
Salman is our personal finance editor with over 10 years’ experience as a journalist. He has previously written for Finder and regularly provides his expert view on financial and consumer spending issues for local and national press.