Buying insurance at the time of booking can cover you if the holiday needs to be cancelled.
People who are booking holidays for the summer, whether at home or abroad, should make sure that they are seeking out appropriate travel insurance as soon as possible after booking their holiday.
Many people will take the option of waiting until such times as their holiday is upon them to make sure that they have the required level of cover, mostly because people believe that their cover is mostly useful for helping them out if they should become injured or ill when they are enjoying their break.
However, according to Defaqto, travel insurance is also vital to make sure that, if a holiday is cancelled for any reason before you embark,you can recover the costs of the holiday in full and not be left severely out of pocket in the long run.
Defaqto said that the main reason for people having to cancel their holidays include being made redundant, serious illness or injury, or being called for jury service at the time they are supposed to be overseas.
Mike Powell, Defaqto's insight analyst for general insurance, said: "At this time of year people may be thinking about booking their summer holiday to help them get over the post-Christmas blues. However, given the significant expense often involved, it is important for holidaymakers to arrange suitable travel insurance once their booking is made to safeguard the money they have spent. This is particularly important given the long gap between bookings that are made now and the summer holiday itself - especially in the current economic climate."
Recently, the Association of British Insurers (ABI) advised people to make sure that they are always buying the correct kind of cover for their needs, with many people relying on annual insurance as the best way to cover them if they often travel abroad.
However, it also said that those who are going on ski holidays need to make sure they buy dedicated winter sports cover.
By Ann Jones
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