Money expert Martin Lewis has warned anyone planning on going on holiday abroad this year that they need to do one thing as soon as they book.
Speaking on the latest instalment of The Martin Lewis Money Show Live on ITV1 and ITVX on Tuesday, March 4, Martin explained that this time of year is the peak time for people booking their summer holidays, especially families. But you could through no fault of your own find yourself losing the entire cost of the holiday if you fail to take out travel insurance at the same time you book the trip, Martin warned.
Martin said: “A warning for everyone who’s booked a trip abroad this summer…
“Most people book their holidays for the summer in January and February especially most families.
“I do an annual warning about travel insurance. Key thing to understand: travel insurance is not just to cover you while you’re away. It’s also very important to cover you in case something happens before you go that stops you going.
“So I have a rule, you should get your travel insurance ASAB, as soon as you book.
“But right now many people have already booked and if you don’t have your travel insurance, but your holiday’s booked, do it right now.”
Martin explained that there’s a tragic reason behind the warning, too.
He added: “The reason I do this, every year someone asks me a question, something like, ‘I’ve been diagnosed with cancer, we can’t go on holiday they’re saying we can’t have our money back. What do I do?’.
“And I’m impotent. Because the answer is, get on your travel insurance. And they say ‘well I haven’t got my travel insurance yet’.
“Do not get your travel insurance the day before you go. Get your travel insurance ASAB, as soon as you book.”
Martin then heard a message sent in last year by someone who couldn’t go on holiday as he told his audience ‘this is what I had a year ago, that I want you to read’.
The message read out by co-host Jeanette Kwayke said: “I booked a holiday for Christmas, I was then medically advised not to fly. The holiday was already paid for, and I hadn’t taken out any travel insurance. I’m now being told I lost all the money for the holiday, is there anything that can be done?’.
Martin added: “Please don’t be the person who asks me that question this summer. If you’re going to book a holiday, ASAB. The answer is no.
“Very simply just think about it for a second. If you bought a tennis racquet, and you broke your arm, you can’t say to them ‘I want a refund cos my arm’s broken’. The tennis racquet still works. The flight still works, the hotel still works, it’s not them that’s got the problem, it’s you.
“That’s the logic, that’s what you have insurance for.”
The Martin Lewis Money Show Live March 4 episode is still available to watch via ITVX.
