Martin Lewis has issued an urgent warning to anyone planning a holiday this year, and to anyone who already has one booked.

The Money Saving Expert has told travellers to act ‘right now’ in order to avoid potentially losing money on their trip.

Speaking on ITV’s Martin Lewis Money Show Live, the personal finance expert urged everybody to get their travel insurance ASAB – as soon as you book.

Mr Lewis said: “Travel insurance is not just to cover you when you are away, it is also very important to cover you in case something happens before you go that stops you going.

“I have a rule. You should get your travel insurance ASAB – as soon as you book.

“Many people have already booked, if you do not have your travel insurance and your holiday is booked do it right now.

“Every year someone asks me a question, something like ‘I have been diagnosed with cancer and cannot go on the holiday, they are saying we cannot have our money back, what should we do?’

“The answer is to get on to your travel insurance, and they say ‘I have not got it yet’.

“Do not get your travel insurance the day before you go on holiday, get it ASAB.”

The Money Saving Expert has previously warned travellers to make sure they have the correct health card before going on holiday.

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Speaking last year, Martin urged everyone going holiday to either order a GHIC card or check that their EHIC card was still valid, with more than five million cards going out of date this year.

He said: “If you are going to the EU ensure you get a valid EHIC or GHIC. What these do is they entitle you to treatment in a state-run hospital or GPs at the same price as a local; free for them, free for you.

“Get or renew these cards, it is always free, go to NHS.uk.

“If a search engine takes you somewhere that charges or tries to fast track you, they are shysters, they are not real.

“You never pay for this, there is no such thing as a fast track, official sites will not charge you.”