Travel Insurance

Does travel insurance cover me if my airline or tour operator goes bankrupt?

 

Here’s a site where someone has done some research for you for travel insurance. We are not affiliated with Finder.com.au, we just think this info might be useful for our clients.

https://www.finder.com.au/insolvency-and-travel-insurance

We highly recommend that you purchase travel insurance the day you pay any money to anyone for your trip (i.e. deposits, or sometimes full payments if that is required for the product you are purchasing).

Things to look out for:
Car Hire Excess Insurance
Medical Insurance
Lost luggage
Travel delays
Adventure Travel cover (some companies won’t cover the more ‘risky’ type of sports).
Airline / tour / cruise operator financial default (end supplier)

Your style of travel might differ greatly from the person next to you on the plane. You might be skydiving, they might be going on a cruise. There is no one travel insurance policy that will cover everyone for what they need.

Most travel insurance policies do not cover you for the end supplier financial default (but they don’t mention this explicitly), so if that is something that concerns you, please do your research and select the appropriate travel insurance for you (some info is on the Finder link above, but you must read all PDS’s carefully yourself). Most insurance policies only cover you if you have to cancel your trip because of something happening on your end. Please speak to your insurance company and ensure that you are going to be covered for what is important to you.

We act as an Agent only, we are not the End Supplier (tour operator) of our tours and cruises. We have no control over their actions and unfortunately once we have paid the end supplier, we have no control over their finances either.

We have been in business since 2003.  We are not the ones who might go insolvent, as your money is safe in our Trust Account until we pay it to the end supplier. It is only once it leaves our hands that we need you to be insured on your own to cover anything that is beyond our control. We want you to be safe when you travel, we want you to be able to get home safely if something goes wrong. Please, get travel insurance and ensure you have the best protection for what you need. 🙂

For Adventure Travel insurance, or insurance for the basics after you leave home, we can recommend World Nomads Travel Insurance. They will cover emergency medical expenses, baggage, trip cancellation (that’s if you have to cancel, not if your trip is cancelled by the end supplier), and technical equipment. You can extend your cover while you travel and they cover heaps of sports like scuba diving, skiing, bungee-jumping, surfing and mountain-biking to name just a few!
World Nomads Logo

For other people, products that include Car Hire Excess Insurance or ESFI might be more important than cover for adventure travel and sports. In that case we recommend something different, as World Nomads does not cover either of those things.

For insurance that covers car hire excess, annual multi-trips, cover when you’re already overseas and group policies, we can recommend 1Cover Travel Insurance. Please read the product disclosure statements thoroughly and check anything you aren’t sure of with 1Cover.

 

You really do need to decide exactly what cover is most important to you based on your style of travel, your responsibilities at home, the possibility that you might need to cancel your trip to take care of a loved one, or whether you’re going to hire a car. Please read all the Product Disclosure Statements thoroughly and carefully and ensure that the cover they entail is exactly what you need. If you’re not sure, phone the insurance company and check with them. If you are going to use your credit card insurance, then please read it very, very carefully so that you know exactly what it covers. Most do not cover if the end supplier is in financial default.