Overview

• Martin Lewis emphasizes his 'ASAB' rule: purchase travel insurance as soon as you book to ensure pre-trip cancellation coverage.
• He explains that roughly half of a travel insurance premium covers protection against cancellations before departure.
• A real-life example shared by Lewis involved a family who lost most of their refund after delaying insurance purchase when a medical emergency arose.
• Lewis clarified that single-trip policies provide immediate coverage once paid, while annual policies must start on or soon after the booking date to cover cancellations.
• Millions of UK households are expected to travel abroad this summer, making timely insurance purchases even more crucial.