New insurance for the modern-day traveller

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In such economically uncertain times, travellers are becoming increasingly wary about hotels and airlines going bust and leaving them stranded abroad. They might be pleased, therefore, to hear that LV= has just released a new travel insurance product which provides cover for such events.

One of the most important features of the new premium insurance policy is that it covers any loss caused as a result of a supplier going bust. This can happen to hotels, airlines and other travel companies, and it seems to be happening a lot these days, to large as well as small companies.

Whenever this happens, it can be a nightmare for travellers. We regularly hear horror stories of travellers being stranded abroad with no way to get home, relying on their credit cards to keep them going.

In this day and age, it is something that all travellers have to think about.

Under this new policy, if travellers pay money to an end supplier and it then goes bankrupt they will find themselves covered not only for the money they paid to the supplier but for any extra additional expenses they incur up to £1,000.

On top of that, the policy also covers delays outside the UK. Although many insurance policies provide cover for delayed departure within the UK, if travellers then go on to miss a connection they may find themselves out of luck, and it can be a disaster if they have to go back home and miss their holiday.

But with this policy, if the traveller misses a connection after they have left the country then they will still be covered.

John O’Roarke, the MD of travel insurance at LV=, said that many policies “do not fully meet travellers’ needs” and that this policy has been created to provide “complete peace of mind”.


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