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.