easyJet flightBarry Batchelor/PA Wire/Press Association Images

A new form of travel insurance has been launched today. People flying with easyJet can sign up for missed flight insurance - which will pay out no matter why you miss the flight.

So what does it cover, and is it worth it?

Travel


The policy

The cover has been launched by a company called No Exclusions, which is backed by Sir Stuart Rose (the former M&S man). Rose said: "Since I left full-time employment I have tried to look for companies which are entrepreneurial and see a gap in the market and are young and dynamic. For me, what's exciting is that this is a new product that is totally simple, everyone can understand it."

Travel



The cover is likely to have broad appeal. It will cover travellers for everything from oversleeping to getting caught in traffic, and will provide a full refund or tickets on the next available easyJet flight - as long as passengers make a claim in person at the sales desk at the airport within four hours of the scheduled departure. And at £7.50 for a single flight, and £9.50 for a return cover it is relatively affordable.

Andrew Lothian, No Exclusions' CEO commented: "We are extremely proud to have designed and developed Missed Flight Cover and are thrilled that easyJet will be the first airline to launch the policy. We believe it provides an innovative and effective solution to a proven passenger concern and are confident that uptake will prove popular." The company is in talks to offer this product to passengers with other companies.

But is it worth it?

The fact is that the business model works on the fact that people worry about missing their flight, but relatively few people actually do so. In pure maths terms, the likelihood is that the typical regular traveller will end up paying far more for cover than they will ever claim back.

If you are torn between spending the money on this cover or on regular travel insurance - which will cover everything from lost luggage to medical emergencies while you are away - then clearly the comprehensive cover is far more vital. It will only cover missed flights in very specific circumstances, but has much broader cover for all sorts of eventualities.

However, if you can afford both, the question is whether the missed flight cover is worth it to you - and whether you are happy to pay to alleviate the stress. Given that 71% of people sleep restlessly, or not at all, before a morning flight, it could make a big difference to your mood at the start of your holiday. In addition, 43% of passengers will consider staying at an airport hotel in order to alleviate this travel stress before flying, so this cover could actually constitute a saving for some people.

So what do you think? Would you buy it? Let us know in the comments.

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