MARTIN Lewis has issued an urgent warning to anyone going on holiday this year – and you could save thousands of pounds.
In the latest MoneysSavingExpert (MSE) newsletter, Martin Lewis warned travellers to have their insurance booked as soon as possible.
Writing in the newsletter, the consumer expert said: "If you've booked a holiday abroad, and don't have travel insurance, do it now, today, do not delay."
This is because your travel insurance will mostly cover costs and eventualities that might stop the trip from happening.
He gave the examples of someone with a serious diagnosis, a redundancy or a bereavement.
Martin added that holidaymakers are often "shocked" when an airline or a hotel won't let them cancel for one of the above reason – and they end up losing out on serious cash.
READ MORE IN MONEY
Martin Lewis issues urgent warning to ‘call don’t stall’ and claim free cash
Best and worst cards for spending abroad in 2023 – and you could save £80
"Unless you have booked with free cancellation, being ill doesn't give you rights," he wrote.
"That's why you need to get travel insurance ASAB (as soon as you book)."
There are annual travel insurance policies you can check out as well if you're travelling more than once a year, and it's best to always use the same provider if possible.
What is travel insurance?
Travel insurance will mostly cover costs if flights are cancelled, your airline goes bust or you need medical assistance when abroad.
Most read in Money
Three major energy providers pay £70 to over 100,000 customers after blunders
Thousands of users affected by outage as Sky mobile internet goes down
Four major mobile networks down affecting thousands of users in mobile outage
Major network down leaving hundreds of customers without mobile and internet
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.
The two main types of travel insurance are single and multi-trip cover.
There is also backpacking travel insurance which typically covers you for an extended period to multiple destinations.
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.
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.
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 a 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.
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.
Read More on The Sun
Vet nurse reveals the best dogs for first time owners & those to AVOID
I took a cheeky week-long break in Spain without using annual leave – here’s how
Meanwhile, one Martin Lewis fan has revealed how they got a £400 energy refund thanks to a clever tip.
Plus, MSE have warned that 750,000 families are missing out on £2,00 a year – we explain how you could claim.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected]
Source: Read Full Article
