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Why You Should Buy Travel Insurance ‘ASAB’
When planning a holiday, most of us focus on the exciting parts such as choosing the hotel, researching restaurants, and counting down the days until we head to the airport. However, there is one vital task that often gets pushed to the bottom of the "to-do" list: booking travel insurance.
According to consumer champion Martin Lewis, delaying this purchase is a significant mistake. In a recent podcast, he urged holidaymakers to get covered "ASAB – As Soon As you Book."
But why is the timing so critical? Here is why waiting until the week before you fly could cost you thousands.
Protection Before You Leave
The primary reason to buy insurance immediately is that travel insurance isn't just for mishaps that happen while you are abroad; it is for everything that could go wrong before you even leave your house.
The moment you pay for your flight or hotel, you are financially committed. If, two weeks later, you are made redundant, fall ill, or suffer a family bereavement that prevents you from travelling, you will likely lose your money if you aren't insured. If you buy your policy "ASAB," you are covered for cancellation from that second.
The Risk of the Unexpected
Life is unpredictable. You might be perfectly healthy today, but a sudden injury or a new medical diagnosis in the months leading up to your trip could render you unfit to fly.
If you wait until a few days before your holiday to buy insurance, and something happens in the interim, you will find yourself in a "catch-22." You can't get insurance for a pre-existing condition or an event that has already occurred, meaning you'll be left to foot the bill for a holiday you can no longer take.
It Costs the Same
Perhaps the most compelling argument for buying insurance early is that it generally costs the same whether you buy it six months in advance or six hours in advance. By purchasing it the moment you book your trip, you aren't paying more; you are simply getting months of extra "cancellation cover" for free.
What to Look For
When following the "ASAB" rule, ensure your policy provides
Sufficient Cancellation Cover: It should at least match the total cost of your holiday.
Medical Cover: Look for a minimum of £2 million for Europe and £5 million for worldwide trips.
Personal Liability: In case you accidentally injure someone or damage property.
The takeaway is simple: as soon as you have put money down for a trip, you have an asset to protect. Don't leave your finances to chance, get your insurance sorted ASAB.
