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Why you should NEVER wait to buy travel insurance, according to Martin Lewis

Travel insurance covers all sorts of things that can go wrong for your holiday.

Booking UK travel insurance online is crucial to making sure you aren’t out of pocket if an accident occurs.

But when you book your travel insurance is just as important as who you book it with.

Travel insurance is essential to make sure your holiday goes smoothly, but leaving it to the last minute could be a huge mistake and cost you a fortune, according to Martin Lewis.

The financial journalist appeared on This Morning today to explain why.

“This month, millions of you are booking your summer holidays, so at the same time make sure you book your travel insurance too,” Martin said on the ITV show.

“You need cover from the moment you go, yet far too many people book a holiday and then leave the cover until later.”

Martin LewisGETTY/ITV

Martin Lewis: Never wait to buy travel insurance, Money Saving Expert reveals why

Martin Lewis: Never wait to buy travel insurance, Money Saving Expert reveals why

Martin revealed how even in extreme circumstances you might need to rely on your travel insurance to save money.

He said: “Sadly too often I hear stories like ‘I’ve just been diagnosed with cancer, I was due to go on holiday in six weeks, but now need chemo. The airline won’t refund my ticket, what can I do?’

The unfortunate answer is not a lot. You’re only covered for cancellation if you have insurance before an illness/injury, job loss, jury service call-up etc.”

This is why Martin always recommends buying travel insurance as soon as you book your holiday.

Travel insuranceGETTY

Martin Lewis: Travel insurance is essential to make sure your holiday goes smoothy

The expert added: “There are many cheap, decent value policies available online and via comparison sites from as little as £9 for a year’s European cover for an individual.

“If you go away two or more times a year then annual policies usually win.

“Plus, if you’re skiing or snowboarding you’ll need winter sports add-on for full cover, as this pays out for medical costs from ski accidents, damaged gear and cancellations due to piste closure.

“Check if your current policy includes this – if not, get a quote to extend it, then see if you can beat it buying new cover that includes winter sports.”

Travel insurance warningGETTY

Martin Lewis: You should buy travel insurance immediately after you book your holiday

Shopping onlineGETTY

Martin Lewis: Financial journalist appeared on This Morning today to explain why

Martin recently revealed how to save on your energy bills to the tune of £300.

Over 60 per cent of people are on their supplier’s standard tariff, paying typically £300 a year more than they need to, Martin Lewis is here to explain how you can do the same…

Martin appeared on ITV and said: “Even if you’re thinking I switched a year ago so will be on a good deal, you’re most likely not.

“Most cheap deals are for a year, so if you’ve not switched in the last 12 months and are with one of the big six – British Gas, EDF, E.on, Npower, Scottish Power and SSE – you’ll be on their very expensive standard tariff.”

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