Martin Lewis has issued a stark warning to anyone with a summer holiday booked, saying that they must take action now to protect themselves and their cash.
The MoneySavingExpert founder explained that many of us make a crucial mistake when it comes to planning a getaway: not getting travel insurance as soon as we book the trip. Urging people to get the insurance as early as possible, Martin explained that failing to do so can cause you to lose out on huge amounts of money.
Taking to his latest weekly MSE Money Tips email, Martin wrote: "Summer is nearing. If you've booked a holiday abroad, and don't have travel insurance, do it now, today, do not delay. I admit I say this with a hint of desperation."
READ MORE: Martin Lewis urges anyone with a savings account to check it now to avoid being 'ripped off'
He went on: "EVERY summer, my heart sinks after someone asks me a question who'd had 'getting travel insurance' on their to-do list, but didn't prioritise it. Usually they've had a serious diagnosis (too often cancer), injury, redundancy or bereavement, can't go on holiday, and are shocked the airline or hotel won't let them cancel.
"So let me be blunt. Unless you booked with free cancellation, being ill doesn't give you rights. It's like arguing you can return a tennis racket as faulty because you have a broken arm."
Martin explained: "That's why you need to get travel insurance ASAB (As Soon As You Book). It's not just there to cover you in case things go wrong while you're on holiday. Half the value is protection BEFORE travelling, in case something happens to stop you from going."
The money expert said that anyone who has already booked a holiday but is yet to buy their travel insurance should "get it now", with prices starting from as little as £9. The cost of travel insurance will vary depending on your age and any pre-existing medical conditions you have.
Alongside getting travel insurance, the MSE team issued further important advice for all holidaymakers to follow in order to minimise the risk of losing money on their next trip. This includes paying for your holiday on a credit card, as Section 75 refund rules mean that the card provider is jointly liable with the seller on purchases over £100 in the event that something goes wrong - such as a cancelled flight or a hotel closing down.
The MSE pros also suggested booking easily cancellable or flexible flights and accommodation, which will allow you to get your money back or rebook for free if you find yourself unable to go. In addition, package holidays can offer greater protection when it comes to an event where a flight is still going ahead but you are unable to travel - because of, for example, a new travel warning from the Foreign Office banning all but essential travel to your destination.
Usually in this situation, you have few or no rights unless the airline or accommodation provider cancels the flight. But most package holiday providers won't operate holidays to countries where a travel restriction has been put in place, so they are more likely to cancel the trip anyway - meaning you are more likely to get your money back .
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