Financial Default Cover of Travel Insurance
May 10th, 2009Posted in Advantages
One of the benefits of travel insurance is trip interruption/cancellation. Financial default cover is part of this benefit. Financial default cover is protection of the traveler in case that the carrier or supplier goes out of business.
Most policies that provide this coverage require that the policy be purchased a certain period of time prior to the actual travel date. Majority of policies also require a waiting time between the date of purchase and the effectivity of actual insurance coverage. There are other insurance companies that maintain a list of airlines, cruise lines and tour companies, which are not covered by financial default.
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