If you’re planning a holiday this spring or summer, there’s one vital task you must prioritise: securing your travel insurance as soon as you book your trip. Martin Lewis, the financial expert behind Money Saving Expert (MSE), emphasises the importance of not delaying this step.
On The Martin Lewis Money Show Live, he explained that travel insurance isn’t just about coverage during your trip. It also protects you financially if unforeseen events prevent you from travelling in the first place. Without it, you risk losing all the money you’ve spent on your holiday, sometimes running into thousands of pounds.
Martin Lewis has a firm rule: get your travel insurance ASAB – “as soon as you book.” He urges anyone who has already booked their holiday and hasn’t purchased insurance yet to do so immediately.
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He shared a common scenario: “Every year someone calls me saying they’ve been diagnosed with a serious illness and can’t go on the holiday they’ve paid for. They’re told they won’t get their money back because they didn’t have travel insurance. Unfortunately, there’s nothing we can do at that point.”
His co-host Jeanette Kwakye recounted a listener’s dilemma: “They booked a Christmas holiday, were later medically advised not to fly, hadn’t taken out insurance, and were told they’ve lost all their money.” Martin’s advice is clear: “Don’t be that person this summer. Get your travel insurance ASAB.”
He explains the logic: if you buy something like a tennis racket and then break your arm, you can’t ask for a refund because the product still works. Similarly, flights and hotel bookings remain valid; it’s the traveller who faces the problem, which is why insurance is essential.
Be aware that even if you take out travel insurance promptly, it can be invalidated if you ignore travel advice. For example, the UK Foreign, Commonwealth & Development Office (FCDO) currently advises against all but essential travel to the United Arab Emirates, which means insurance may not cover trips there.
The FCDO website advises travellers to buy insurance immediately after booking and to carefully read the policy’s small print and exclusions. They also recommend checking travel advice for your destination and signing up for alerts. Ignoring these advisories could leave your insurance void and your finances unprotected.
In summary, the key to safeguarding your holiday investment is to get travel insurance as soon as you book your trip. Delay at your own risk, as you might lose out on thousands of pounds if an unexpected event forces you to cancel.