Your Airline Declared Bankruptcy, Will your insurance coverage be valid?
- Ask yourself this question: When you bought your travel insurance, was it within the the eligibility window?
Most plans generally require you to buy your insurance within 15 days of your trip. Others require 10 or 21 days so do not wait too long otherwise you will not be covered. Also commont is waiting for 14 days after buying the insurance, so that they will be able to file a claim for reimbursement. Many insurance companies, generally, want to ensure that you bought insurance because of precautionary reasons and not on the basis of flying as soon as news announced your airline has gone bankrupt and completely shuts down its operation. Always remember that insurance is a high target for fraud. Yes, insurance companies have their customer’s interests in mind. Use a company that is reputable you should receive exact answers to your questions. - Most important of all is that you want to make sure that your travel supplier (in this case, an airline, or this may include a cruise or tour company) is included in the list of covered companies by your travel insurance. A good travel insurance company always informs their customers of what companies they have blacklisted.