Travellers receive financial failure cover with insurance

ATOL-like cover now available to DIY holidays

Travel Insurance News - 03/12/2009

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Good news for those who love to travel regularly and take the precaution of getting travel insurance. Fierce competition in the travel industry has led insurance companies to improve their packages, offering travellers terrific deals.

The latest change is that those who book holidays independently and purchase travel insurance will now be automatically covered for the financial failure of the firms they book through.

In the latest resolutions adopted by the European Commission, DIY holidays will now be accorded the same protection previously only available to holidaymakers who booked through recognised agents.

Where independent travellers always ran the risk of being stranded if their airline or tour operator suddenly went bust; they will now have the extra umbrella of protection to cover them against such casualities.

This means travellers no longer need to book with agents covered by the Air Travel Operators Licence (ATOL) scheme, to be awarded the complete list of insurance protections offered.

This, of course, is excellent news for travellers who choose to save money and grab great deals by booking their holidays online rather than going through a travel agent. According to a recent study, 65% of flight bookings are done online these days, with this figure rising by 5-10% each year. The new policy means that these travellers will be protected, even though they book independently.

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