As we are now firmly into the new year and temperatures drop below zero, many Brits will be planning their next trip for some much-needed sunshine.
But in his latest weekly email, Martin Lewis from MoneySavingExpert has warned travellers to take out travel insurance as soon as they book their next trip.
‘The “As Soon As You Book” (ASAB) rule isn’t just so you don’t forget later,’ Lewis wrote on his website.
‘It’s because one of the big protections of travel insurance is to cover you in case something happens before your trip that means you can’t go.’
It comes as two-thirds of young Brits say they have travelled abroad without health insurance.
This could see travellers at risk of high costs for medical emergencies, flight cancellations or lost belongings – among other travel-related expenses.
Nearly half of Brits overall – 46 per cent – say they have travelled without taking out any form of travel insurance for trips abroad, according to a recent study.
Many of those who opt to forgo travel insurance could leave themselves exposed to high costs later down the line if things go wrong.
Nearly half of Brits overall – 46 per cent – say they have travelled without taking out any form of travel insurance for trips abroad, according to a recent study
According to the poll, the top common travel claim is trip cancellation due to illness, injury, or bereavement – in 49 per cent of cases.
It was also revealed that 48 per cent claim for travel delays.
Lewis continued: ‘Each year in the run-up to summer, I get questions like this: “I’ve been diagnosed with a serious condition (eg, cancer).
‘”We can’t go on our holiday now as I need treatment, but the airline/hotel won’t give us a refund. What do we do?”
‘Sadly, unless the ticket’s flexible, there’s no right to a refund, as nothing’s ‘faulty’ with the holiday, so I point them to travel insurance.
‘Yet some say: “but we haven’t got round to getting it yet!” And that’s the painful moment, as then there’s often little left to try.’
As a final note, the Money Saving Expert CEO adds: ‘While ASAB is the safest route, it isn’t 100 per cent foolproof.
‘Some firms may cancel cover if you’re diagnosed with a severe illness before you go.’
According to the poll, the top common travel claim is trip cancellation due to illness, injury, or bereavement – in 49 per cent of cases
It comes as a recent report found that one in four people hide medical conditions when buying travel insurance in order to save money.
But this puts them at great risk of huge bills if something does go wrong, as claims could be rejected as a result.
A quarter (24 per cent) of holiday makers intentionally avoid disclosing pre-existing medical conditions when purchasing their travel insurance to save money, new research from Gigasure has shown.
Failure to disclose conditions, whether intentional or not, can mean the difference between being fully covered while on holiday or facing expensive medical and repatriation bills.
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Martin Lewis issues urgent travel insurance warning as people risk losing money
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