I have decided to only book in the future with the likes of Thomson/ Thomas Cook and Monarch.
I think that's fine if you like the sort of holiday that the big TOs have on offer but I think that I will be continuing to take my chances with going DIY because of the sort of holidays I like. If I don't I would probably never go on holiday again - or at least not on the type I really enjoy. Nor would I be able to afford to go away as frequently as I do whic means a lot to me given the stresses of my work.
So I will continue to go down the DIY route but I think that there are precautions you can take to minimise the risks such as:
1) Make sure that if booking flights and/or accommodation through a 3rd party that the agent is properly bonded.
2) Use your credit card for the booking. Yes, you will pay extra for it but I regard is as the equivalent of paying an insurance premium - you hope never to have to claim but it's worth paying it for the peace of mind.
3) Ensure if at all possible that your travel insurance includes cover for if the airline goes bust.
5) And finally accept that nothing in this world is ever certain and be ready to roll with whatever happens.
This isn't a new phenomena - going on for 25 years ago now my Mum organised a holiday for a large extended family group of us and with less than a week to go before we were due to leave the TO went bust. Having confirmed that they were bonded and that everybody would get their money back eventually, she sorted out an alternative for an almost identical holiday leaving a day later. Yes, I know that not everybody has access to the funds to make a new booking in this way or would feel comfortable with adding it to their plastic but if you can then you mightn't get the holiday you planned but it is still possible to get away. And, yes, it is disappointing when you've been looking forward to something but personally, I'll continue to take the risk on DIY rather than settle for what the big boys charge for something that I don't find very attractive.
And again I know that not everybody is in a position to do this because they can't afford the difference between a package and going DIY but a friend has a very novel approach to budgetting for a DIY holiday. She prices up what is the nearest equivalent package and then literally saves what she saves by going DIY - in other words she puts the difference into a savings account which she then treats as a rainy day fund she can draw on if things go wrong. Over the years, this account has sometimes built up to such a surplus that she's then used the savings that have accumulated to pay for an extra holiday! I'm seriously thinking of giving this a go for the future.
SM