MARTIN Lewis has issued an urgent warning for anyone booking a holiday and explained how to avoid losing out.
In the latest MoneySavingExpert weekly newsletter, Martin warned households to take out travel insurance as soon as they book a holiday.
Martin said: "It's peak holiday booking season right now.
Yet many book their holiday and think they'll sort everything else out later. That's a mistake."
"Get travel insurance ASAB (as soon as you book)," said the MoneySavingExpert.
The warning comes after Martin said that he gets regular complaints from readers who fall ill before a trip and can't get a refund because they didn't take out cover.
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Travel insurance is there to help if something goes wrong before or during your trip.
It can help cover costs if flights are cancelled, your airline goes bust or if you need medical assistance when abroad.
Martin answered some common travel insurance questions to help holidaymakers understand exactly what type of coverage they need.
The founder of MoneySavingExpert warned that those holidaying more than once a year should check out annual travel insurance policies.
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Martin said: "If you'll go away at least twice – even if just for weekends – annual policies usually win as they cover virtually all trips.
"If you just want a bog-standard no-frills policy – the cheapest range from £12 for individuals in Europe, and from £71 for a family worldwide."
But if you're just going away for a single trip, Martin said travellers can get cover for as little as £9 a week.
And if you're off skiing, Martin warned travellers to get a winter sports add-on.
He said: "A winter sports add-on covers lost or damaged gear, piste closures and medical costs from accidents.
"But, do be aware that if you usually go off-piste, these won't cover you."
And if you're travelling in Europe remember to check if your EHIC/GHIC card is valid.
The cards are free for Brits and it is advised to take them on holiday as it gives you access to healthcare across the EU for the same prices as a local.
But holidaymakers should still take out travel insurance as the GHIC does not cover all medical emergencies.
The cards are only used for necessary medical treatment and not for non-urgent care.
It's also important to be aware that some packaged bank accounts offer travel insurance which can beat standalone policies.
For example, Nationwide's FlexPlus account which comes with a £13 a month fee, gives worldwide annual family travel insurance up to the age of 69.
We've explained everything you need to know about travel insurance and how to bag the best policy below.
What is travel insurance?
Travel insurance is there to help you when something goes wrong with your holiday.
It can help cover your bills if your flights are cancelled, your luggage is lost, or you need medical help when travelling abroad.
The two main types of travel insurance are single and multi-trip cover.
There is also backpacking travel insurance which typically covers you for extended period to multiple destinations.
Which is best, single trip or annual travel insurance?
When you buy insurance, you will be asked if you want cover for a single trip or multi-trip.
It can get pricey if you keep buying insurance for several trips during one year.
For example, if you have two or three holidays in a year then it can often work out cheaper to take out annual multi-trip cover instead of a single policy for each time you travel.
Check how long you can be away for on each trip with an annual policy.
These policies will usually cover you for an unlimited number of trips but some insurers cap how long you can be away for, usually around 31 days.
What exactly does travel insurance cover me for?
Travel insurance can cover you for a range of situations, for example, if your luggage has been stolen, you need to cancel your trip, or you need medical treatment while abroad.
Some policies may even cover you if your hotel has to close and you had to move accommodation, or if your flight was cancelled and you are unable to get your money back from the airline.
It may also provide protection if you have to cancel because of an illness, redundancy or close family bereavement.
All policies have different inclusions and exclusions, so check the policy details thoroughly so you know what you are covered for before taking out a product.
How do I find the best travel insurance?
Travel insurance can be purchased from travel agents and holiday companies when you book, but there is no obligation to take this.
Banks, supermarkets and insurance companies also offer travel cover and a comparison website can help you find the best product for your needs.
You will need to provide the names and ages of all travellers, the destination and any medical conditions.
Results can then be filtered based on the level of cover and the excess you want to pay.
You can also sort policies by price to find cheap travel insurance but check what is covered, as the lowest-cost deals may not always provide the best protection for you.
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It may also be worth using an insurance broker if you have more complex needs. You can find a regulated insurance broker on the British Brokers Association website.
Also check your current account as some banks may offer travel insurance automatically to their customers, although you should still check what is covered.
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