With fuel prices now beginning to quietly climb down from their lofty prices they’ve been set at for the past few months at least now we can look forward to petrol being under £1.00 for the first time in a long time. But whilst we may be able to afford our journeys in our cars the same cannot be said for airlines of which many have folded or gone bankrupt forcing many holiday makers to be left in the lurch.

A number of high profile cases of airlines in America and the UK folding under the pressure of raised fuel costs has left many people either without a flight to go on holiday or worse, stranded at the airport trying to get a flight home. One such case was the recent collapse of popular budget airline XL Holidays, who folded under the pressure at the end of the summer holidays with many customers still on holiday and unable to get home.

Whilst this was a terrible thing to happen at the end of your holiday (or a good thing if you didn’t want to come home!) many people were left with no replacement flight as they had booked their flights independently through cheap flights websites where they pick and choose their flights and are subsequently not covered by ATOL agreements that come with package deals which would cover your flights even if your provider were to collapse.

With the outrage over the recent events it’s becoming abundantly clear that optional extras like fully comprehensive travel insurance policies are essentials for future holidays. Whilst UK travellers are covered to some extent for medical costs when travelling in the EU it would not cover the closure of your chosen flights company. A dedicated holiday insurance policy would cover this as well as other mishaps like delayed flights (leading to late hotel check ins) and lost luggage.

Some companies cover more than others and so some companies may cover activity holidays where some may cover ski holidays too, it’s advised that you compare travel insurance policies of most insurers to make sure you get the right amount of cover for your particular holiday.

Don’t make the mistake many people have and travel uninsured, remember that cheap holiday may quickly become the most expensive one you’ll ever have if the airline closes up shop when you’re away or weeks away from jetting off.

Shane