Difference between insurance and financial protection

When planning a trip, it's important to understand the difference between travel insurance and travel financial protection. We understand this can sometimes be confusing, so we hope this article helps clarify the difference for you.

What is Travel Insurance?

Travel Insurance like Trip Cancellation Insurance, Travel Medical Insurance and Baggage Insurance is a specialized type of insurance policy that provides coverage for various unexpected events that might occur before or during your trip. Here are some potential reasons:

Trip Cancellations

If you need to cancel your trip for a covered reason, like illness or a family emergency, travel insurance can reimburse you for non-refundable expenses.

Medical Emergencies

Should you fall ill or get injured while traveling, travel insurance can cover medical expenses and sometimes even emergency evacuation. It's important to note that medical coverage is often an additional option that you may need to purchase separately.

Lost or Delayed Luggage

If your bags are lost, stolen, or delayed, travel insurance can provide compensation to help replace essential items or cover the cost of lost belongings. Like medical insurance, luggage coverage is frequently an add-on that you need to select when purchasing your travel insurance.

Canceled or Delayed Flights

If your flight is canceled or significantly delayed, travel insurance can help cover additional costs, such as rebooking fees or extra accommodation. However, this coverage may vary, so it's important to check if your policy includes it or if it's an add-on option.

So now you are wondering "Why do I need that?"

Be sure to review the policy details, as certain types of coverage, such as for medical emergencies, luggage, and flight cancellations, may require an extra premium.

What is Travel Financial Protection?

Here’s what you should be aware of:

ABTA and ATOL Protections

We as TravelLocal are members of ABTA and therefore every UK Booking which is getting confirmed via our website is financially protected in the unlikely event of TravelLocal becomes insolvent. 

These protections are vital, offering reassurance that your booking is secure. ABTA and ATOL protections will review your case and in case, will help you receive a refund or alternative arrangements for your holiday.

• ABTA: Provides protection from the moment you book, covering a wide range of issues including travel company failures and repatriation if needed.
• ATOL: Specifically covers air travel, ensuring that if a travel provider fails, you are either refunded or safely flown home.

You can find our Membership here:

https://www.abta.com/abta-member-search/results?search=Travellocal+ltd

More information you can find here:

https://www.abta.com/sites/default/files/2019-01/The%20benefits%20of%20booking%20with%20an%20ABTA%20travel%20company.pdf

Package Travel Regulations

Under the Package Travel Regulations in the UK, you are entitled to certain protections if your trip is significantly disrupted due to unforeseen and extraordinary circumstances. Within the legal requirements, these regulations help ensure that you either receive an alternative arrangement or a refund if your travel cannot proceed as planned. However, these entitlements depend on the specific circumstances and the fulfillment of the legal conditions.

So now you are wondering "Why does it matter?"

Financial protection is a significant part of the buying decision, and we ensure that these protections are highlighted early in your booking journey. This way, you can make informed choices with the confidence that your investment is safeguarded.

So what's the difference now?

These protections offer reassurance against travel provider failures and ensure you have recourse if parts of your trip are disrupted, providing an extra layer of security.