Martin Lewis has issued a crucial warning for anyone planning a group holiday with friends or family. The MoneySavingExpert founder shared his advice during a recent episode of ITV's The Martin Lewis Money Show, emphasising the importance of selecting the right travel insurance policy.
Why Solo Insurance May Not Be Enough
Lewis cautioned that solo travel insurance typically does not cover cancellations when one person's issue forces the entire group to cancel. He recommends a shared or comprehensive group policy to ensure everyone is protected if one member cannot travel.
In a clip posted on his TikTok account, he wrote: "Think carefully before buying solo travel insurance if you're travelling with a group." He stressed that insurance should be bought "ASAB" (As Soon As You Book) to safeguard against cancellations before departure.
Real-Life Example
During the show, a viewer named David shared his experience: "I booked flights to Australia for a family group of seven. I took out insurance immediately. One of our group is now pregnant and can't travel on the dates planned. It cost £5,000 to reschedule, which the insurance covered."
Lewis responded: "Think of who you're booking for. If it's a family group and one can't go, they'll often cover you. But if there's a large group of friends going, you often all get independent travel insurance. Then if one can't go and you all can't go, only that person is covered. You'd need a group insurance policy so that if one can't go, you all can't go."
Key Takeaways
- Buy travel insurance as soon as you book a trip.
- For group holidays, consider a group policy to cover cancellations affecting everyone.
- Solo policies typically only cover the individual, not the group's losses.
Lewis regularly stresses this advice. On the MoneySavingExpert website, he wrote: "Each year, heartbreakingly, someone tells me they can't go on holiday due to a serious condition, but the airline won't refund them. I say 'that's what travel insurance is for'... yet they haven't got it yet. Half the point is to protect you if things happen before you go, so get it ASAB."
