What are you hoping to claim?
Travel insurance would normally only pay £10-£20 pp for a delay of this length.
What travel insurance would pay isn't really relevant if you are claiming for breach of contract and negligence against a tour operator. What will determine the level of compensation paid if you take it to the small claims courts and win, is whether or not the judge feels that tour operator is telling the truth, and how much effort (if any) the tour operator made to switch you to any other flights different carriers were operating that day to the same destination, rather than leave you stranded until their own plane was back up and running.
Given how often this "plane hit by a truck" excuse would seem to have been used, I have to admit that it doesn't sound exactly plausible.
I suggest that it might benefit all of you who are complaining about this to exchange witness statements to use in evidence if you want to pursue this. If you decide to do this, message me and I'll send you an example of how to set out a witness statement for the small claims court.