There are a number of schemes available to ensure that your money is safe and that you will be repatriated should your travel company go out of business. Financial protection in travel can be confusing, so here is an easy-to-follow run down of when your money should automatically be protected and what you can do when it isn’t. Also provides a checklist for what paperwork you need when booking your holiday.

Look for an ABTA member before booking your holiday. ABTA members are financially protected so that if your travel company fails, you’ll be able to continue your holiday as planned or get your money back.

By law, every UK travel company which sells air holidays and flights is required to hold an ATOL, which stands for Air Travel Organiser’s Licence. If a travel company with an ATOL ceases trading, the ATOL scheme protects customers who had booked holidays with the firm. It ensures they do not get stranded abroad or lose money.