Travellers urged to book early as airfares are on the up!
With air fares set to rise this summer, due to the increased cost of fuel, buying travel insurance to protect your money is becoming increasingly important.
Travellers are being urged to book summer holidays early to avoid rising air fares as aviation analysts warn that flight prices are set to increase as the price of jet fuel continues to rise.
The price of jet fuel has risen 4% since last month and is now 5% higher than it was this time last year. With fears of more conflict in the Middle East oil prices are unlikely to go down in the coming months and airlines will be forced to increase prices to cover costs or risk going out of business.
Booking your holiday early? Be sure to buy travel insurance
If you do choose to book your holiday early to avoid rising prices, be sure to buy travel insurance at the same time to protect the money you've invested in your holiday against the risk of cancellation.
Travel insurance can provide cover in the event that you need to cancel your holiday due to illness, redundancy or your home becoming inhabitable. From the moment you pay for your holiday it makes sense to have travel insurance in place to provide cover in case you need to cancel. Otherwise you could find yourself out of pocket if you or a close family member become ill and you are unable to travel on your holiday as planned.
Booking independently? Buy travel insurance with insolvency cover
If you book elements of your holiday independently, for example booking flights direct with an airline and booking your accommodation separately, rather than booking a ‘package' holiday, it will not be protected under the CAA's ATOL Protection Scheme.
In this situation it's important to have insolvency cover or Scheduled Airline Failure included in your travel insurance policy. Scheduled Airline Failure allows you to make a claim to recoup costs in the event that your airline, or other holiday supplier, becomes insolvent either before you travel, or whilst you are away.
As rising fuel costs could cause less well established or weaker airlines to struggle it pays to make sure your holiday is covered in the event of insolvency.
Insurewithease.com includes Scheduled Airline Failure (Insolvency Cover) on all travel insurance policies, so whether you choose to buy single trip travel insurance or annual travel insurance, you will have insolvency cover included.