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Summer holiday grounded?
It’s a holidaymaker’s worst nightmare; the holiday you have been looking forward to all winter is suddenly grounded as the recession continues to force some holiday companies to the wall.
What can you do to protect yourself from potential disaster?
Pay on your credit card
Some holiday makers like to tailor their holiday to suit their own needs and pockets by arranging the different sections of their holiday separately. However this carries its own risks as this means they are unlikely to be ATOL protected. Paying on your credit card carries certain benefits when trying to obtain a refund. Section 75 of the Consumer Credit Act 1974 means that credit companies are liable for poor goods or services and this includes most payments made to overseas companies which means that if your holiday company goes bust then you can reclaim most of the cost of your holiday
Ensure you’re covered on your travel insurance
Before you even contemplate going on holiday, you should ensure you obtain travel insurance and that it covers you for the activities you will partaking in. Some insurance companies now will provide cover for airline failure; cancellation and some will even cover insolvency. Always check the terms and conditions of any policy you purchase.
Ensure ATOL protection
If you’re already abroad, the most effective way of ensuring you get home is to ensure your holiday tour operator is ATOL protected. The Air Travel Organisers License ATOL is issued by the Civil Aviation Authority and means if your company goes bust, alternate accommodation or flights will be arranged on your behalf without any additional payments. If your operator goes bust before you go away then you are also entitled to a full refund.
Moneyextra.com recommends you take independent financial advice before acting on any article
Back2010-08-20 13:59:40 © Moneyextra.com
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