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Financial Protection with Supplier Failure Insurance
In these uncertain times, it is understandable that you look for the best value arrangements when organising your holiday, which often means booking early to get the widest choice, and sourcing flights, accommodation and airport transfers or car hire separately through different suppliers.
Price and convenience shouldn't be your only considerations though as you will want to ensure that your money is safe and your payment is protected should anything go wrong with your arrangements, such as a supplier becoming insolvent before or during your holiday.
When you book your accommodation through TGG Travel Ltd, we provide Supplier Failure Insurance (“SFI”) free of charge to cover all members of your travelling party. This means that in the unlikely event that TGG Travel Ltd, or one of our accommodation supplier partners were to cease trading, Supplier Failure Insurance up to a maximum of £1,000 per passenger would be available (subject to the terms of our Company Policy) for the cost of replacement arrangements.
How does it work?
In order to provide you with financial security and peace of mind all TGG Travel Ltd accommodation bookings made on or after 13 November 2008 include free Supplier Failure Insurance (“SFI”). In the remote event that we cease trading, you will be offered the opportunity to transfer monies paid to an alternative supplier or receive a full refund of monies paid for the accommodation in question.
How does this differ from a standard travel insurance policy?
Many travel insurance policies do not cover the insolvency of a company that is providing you with a component of your holiday To ensure you are completely financially protected you will need Supplier Failure Insurance in addition to your standard travel insurance policy. As such, Supplier Failure Insurance offers additional protection and is not an alternative to a standard travel insurance policy. You will need to purchase your own standard travel insurance in addition to this cover that we provide free with every booking.
What is not covered by Supplier Failure Insurance?
The Supplier Failure Insurance that we provide, financially protects the payments that you have made in relation to any accommodation booking through us. Our policy will not cover other elements of your holiday itinerary such as flights, car hire or transfers - you will need to consult their terms to assess your level of cover with respect to their services. In addition, the policy will not cover costs if you decide against travelling or any costs which are refundable or recoverable from credit card companies, trade bodies such as ATOL, or through other personal insurance policies.
What do I do in the event that you or an accommodation supplier ceases trading?
In the event of one of our accommodation suppliers ceases trading, we will contact you immediately and will liaise with the policy providers in order to arrange your refund or rebook with another provider. In the unlikely event that TGG Travel Ltd were to cease trading, you should contact Guarantees & Bonds Limited, 9D High Street, Maldon, Essex CM9 5PB or Telephone: 01621 858620 or Fax: 0208 150 9280 or by Email:. email@example.com and quote the insurance certificate number which is: 2014011TG
Who is our insurer?
Commodore Insurance Company Ltd is licensed and regulated by Nevis Financial Services. The company is authorised to operate under the Nevis International Insurance Ordinance of 2004 and the amendment to the Ordinance of 2006. NWIC capital and surplus of 1.5 Billion Euros allow it to be accepted in the London market as well as by brokers, intermediaries and banks around the world, as an insurer, reinsurer or guarantor.