Martin Lewis, the well-known Money Saving Expert, has issued a crucial travel insurance advisory for individuals planning their upcoming summer vacations. During a recent episode of the Martin Lewis Money Show on ITV, he emphasized the importance of taking action immediately after booking a holiday.

Lewis highlighted the potential disruptions and increased costs caused by the geopolitical situation in the Middle East before the peak travel season from July to September. He stressed the significance of following his “ASAB” rule, which stands for “As Soon As you Buy,” when it comes to purchasing travel insurance. This strategy ensures coverage for any unexpected events leading up to the trip, offering protection for pre-travel issues.

He urged holidaymakers to secure insurance promptly after booking, as a significant portion of the coverage applies to situations that may arise before departure. Lewis shared a success story where a consumer avoided a £5,000 expense by promptly obtaining travel insurance after booking a trip to Australia.

For single trip policies, Lewis recommended getting insurance that specifically covers the dates of the planned journey, such as from August 10 to 17. He explained that once the policy is in place, individuals are protected against unforeseen circumstances before their departure. Regarding annual policies, he advised individuals without existing coverage to acquire immediate insurance from the booking date, ensuring comprehensive protection.

While emphasizing the effectiveness of the “ASAB” approach, Lewis cautioned that some insurance providers might cancel policies in case of severe medical diagnoses. It is essential for travelers to act swiftly and secure adequate coverage to safeguard their holiday investments.