Martin Lewis, the renowned Money Saving Expert, has issued a crucial advisory regarding travel insurance for individuals planning their summer vacations. Appearing on a recent episode of the Martin Lewis Money Show on ITV, Lewis emphasized the importance of taking immediate action after booking a holiday.
In light of escalating tensions in the Middle East and potential disruptions due to global pressures, Lewis urged holidaymakers to adhere to his “ASAB” rule – purchase travel insurance “As Soon As you Buy”. He explained that many insurance plans offer coverage from the moment of booking until the departure date, safeguarding against unforeseen circumstances that may arise before the trip.
Notably, Lewis shared a success story where a consumer avoided a substantial £5,000 expense by promptly securing travel insurance after booking a trip to Australia. Emphasizing the significance of insurance, Lewis recommended that individuals with single trip policies should opt for “ASAB” coverage specific to their travel dates, while those with annual policies should ensure continuous coverage throughout their holiday period.
While acknowledging the effectiveness of the “ASAB” approach, Lewis cautioned that certain insurers might cancel policies in case of severe medical conditions. It is essential for travelers to proactively obtain suitable insurance coverage to safeguard their holiday plans.