Insurance that covers airline failure

by Dave on 20/10/09 at 3:08 pm

If you’re worried that, in this economical turmoil, your airline might go bankrupt, you can opt in for a travel insurance that covers you exactly for this. The British Insurance Brokers’ Association (BIBA) now includes in its packages protection against airline failure that affects holidaymakers who booked tickets.

More than half of holidays are booked independently by the traveler, avoiding travel agency, but getting exposed to the risk of insolvency. Over 50 lowcost and regular airlines worldwide have collapsed over the past year, leaving thousands of customers stranded or facing losses.

Several travel insurance plans, such as M&S Money’s annual policy, already cover such failure. But BIBA’s Protect insurance goes beyond and offers insurance against car rental companies, airlines, hotels and even theme parks that go bankrupt when the customer has already paid for the service.

Airline Post