Travel insurance for insolvency

conradmum

Does anyone know of a travel insurance policy that covers insolvency of the airline and the travel agent? We got stung when Oasis collapsed because we didn't pay by credit card. We paid with Visa Debit and got the cost of the flights back but not the difference in cost of replacement tickets.

Now we're in the process of buying some more flights, the cost of which exceeds my credit card limit, so I'm having to buy with Visa Debit again. I'm trying to buy insurance that will buy us equivalent tickets should the same thing happen again, but I can't find a single policy which will cover us in the event of cancellation due to insolvency.

Can anyone help?

buglawton

Looking for the same thing, was previously covered with Colombus Direct, will be discussing Renewal shortly and this will be the 1st question I ask.

Insolvency is not mentioned one way or the other in my previous policy with them, but Colombus Direct Online Policy Wording one of their policy wordings does EXCLUDE insolvency of an airline.

The way it is going now, you are not even sure if your Insurer will still be in business by the time you need to male a claim...

Porker

i dont think any travel policies cover insolvency - they are basically set to rely on ATOL and ABTA bonding being in place when you book your trip, which is not really appropriate this day in age...you CAN buy a separate policy to cover airline insolvency from IPP.

Re insuers still being in business - none have gone, despite AIG being v close. In the UK all are covered by the Financial Services Compensation Scheme - so you get money paid on claims.

fifitrix123

I have seen an ad for Post Office offering cover.:j

Quentin

The Post Office policy does NOT cover a tour company going bust. They cover you only for a scheduled airline going bust, and will only pay for any expenses incurred which are NOT part of an inclusive tour.

We Will Not Pay For:


3. The financial failure of:
a) any scheduled airline in Chapter 11 insolvency at the date of issue of the travel insurance policy or booking.
b) any scheduled airline who is bonded or insured elsewhere (even if the bond is insufficient to meet the claims).
c) any travel agent, tour organiser, booking agent or consolidator with whom the insured has booked a scheduled flight

.

cajef

http://www.protectmyholiday.com/



Covers airline insolvency if booking direct yourself, but not tour operator.