“Even when a trip is booked well in advance with only a minimal deposit, that date still determines how long the Financial Default benefit is available for purchase,” explains Chris Harvey, CEO of Squaremouth.
Most travel insurance providers also have a 14 day wait period after the policy is purchased. As a result, if someone bought a policy today, they would not be able to make a travel insurance claim within the first two weeks due to bankruptcy.
If someone misses the 14 day time frame to buy Financial Default coverage, they should look for policies from Travelex Insurance Services, CSA Travel Protection and HTH Worldwide. CSA and HTH both offer Financial Default coverage if the policy is purchased before the final trip payment, while Travelex’s Basic, Select and Max policies offer the benefit at any time.
It’s important to remember, if a traveler purchases travel insurance directly from the airline and that airline goes bankrupt, coverage may not be valid. “To protect your travel investment, whether a single airline ticket purchase, a cruise or other vacation, third party travel insurance is the always the best option,” says Byrne.
Squaremouth is America’s fastest growing travel insurance comparison site, helping customers instantly quote, compare and buy policies from every major carrier. Squaremouth has web sites in the US and UK, and an extensive network of partner sites worldwide. The company is headquartered in St Pete Beach, FL., with offices in Fort Wayne, IN. Visit Squaremouth.com or Squaremouth.co.uk.
About our Zero Complaint Guarantee
The cornerstone of our commitment to customers is Squaremouth’s guarantee to remove any company from our website if there is a customer complaint that cannot be resolved to our satisfaction. Squaremouth offers the broadest selection of insurance with an emphasis on quality and follow-up care in companies featured. We also factor in independent evaluation from the insurance industry watchdog AM Best.
Squaremouth offers products from the following travel insurance carriers:
Air Ambulance Card, CSA Travel Protection, Global Alert Admin, Global Rescue, Global Underwriters, HCC, HTH Worldwide, IMG, ITravelInsured, Medex, Medjet Assist, MH Ross, On Call International, Seven Corners, Travel Guard, Travel Insurance Services, Travel Insured, Travelers Liberty, Travelex, TravelSafe and USA Assist.
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