Before we travel, no matter the length or destination of our trip, we plan. In fact, we try to anticipate all the things that may happen or may go wrong, so that we are as prepared as possible. In a lot of cases making that extra copy of your itinerary or bringing your more comfortable hiking sneakers rather than the new ones works out in our favor. But some things are still beyond our control. In the wake of both Thomas Cook and Wow Air filing for bankruptcy, air travelers need to be prepared for anything. We want to make sure, no matter where you plan to travel this year, your travel investments are protected.

Stay up to date with your airline.

Always be aware of airline changes in the news. Yes, this means even before you schedule your trip. The largest airline companies will probably have news coverage that you can’t escape, whether that be in the newspaper or through different media outlets. But smaller airlines probably won’t have as much coverage, so you should do a little homework before you purchase a flight, as well as leading up to your departure.

Have a back-up plan.

You’ve already taken time off from work, the kids are excited to visit a new place, and the trip just can’t be rebooked for another time. Make sure you are prepared to come up with new travel arrangements. By staying up to date on your airline carrier as well as other airline carriers that will travel the same route, on the exact date and time, as your already booked trip, you’ll be ready to rebook if need be. Knowing what’s available will save you stress and time.

Don’t expect to be compensated.

Very few companies will reimburse you for the total cost of your flight if your airline does in fact file for bankruptcy. On top of that, few airlines will honor the ticket that you have purchased, making it much more difficult to reach your destination on time. * The amount of assistance you receive will depend on the company that you booked your travel plans with.

Purchase travel protection that includes trip cancellation coverage for the bankruptcy or default of an airline.

By investing in a travel protection plan, such as the Worldwide Trip Protector Protection Plan, coverage for a bankruptcy may apply to you. If your travel plans were booked by a travel advisor for an airline that later declares bankruptcy you might be able to receive reimbursement for those prepaid costs.** It is important to note, however, that this cessation of service needs to occur 14 days following your effective coverage date. Additionally, you must have purchased the plan within 21 days of the date your initial deposit/payment for your trip was received. Benefits will be paid due to bankruptcy or default only if no other alternate transportation Is available. If alternate transportation is available, benefits will be limited to the change fee charged to allow you to transfer to another travel provider in order to get to your intended destination.

Always be prepared for the unexpected and you will be sure not to lose your travel investments! Talk to your travel advisor today or visit https://www.travelinsured.com/

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*https://hasbrouck.org/articles/bankruptcy.html

**There is no coverage for the bankruptcy or default of an airline if you directly purchased your tickets from that airline.  Rather,  our plans can only provide coverage if a third party, such as a travel advisor, purchased a flight with the airline on your behalf.