With the slog of January finally drawing to an end, I'm sure many of us have got our sights now set on beach bars, poolside lounging and soaking up the sun this summer.
However, it seems there are some key things to sort out before jetting off abroad, with Martin Lewis issuing an urgent travel warning for holidaymakers after one woman lost a staggering £5,000.
The Money Saving Expert shared the information during a segment on his latest Martin Lewis Money Show Live broadcast which aired last night (30 January) on ITV.
Martin told viewers: "You must get your travel insurance ASAB - as soon as you book.
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"If you've already booked and you don't have it - now. The reason for that is simple."
The financial guru then heard from one viewer named Cocoa, who explained she was advised not to travel due to a high-risk pregnancy.
Cocoa had forked out a hefty £5,000 on a holiday yet didn't opt for travel insurance, explaining in a message read out on the programme: "I was planning a holiday but was then advised that I was not safe to fly due to high-risk pregnancy.
"The holiday was already paid for but I hadn’t taken out travel insurance. I was told that I’ve lost the £5,000 that I had paid for the holiday."
Martin then informed audiences: "Now, let me tell you, every year I get people who have been diagnosed with cancer and are having chemotherapy or terminal cancer, I've had people who've been paralysed, and they get in touch with me and they say 'I can't go on my holiday, what do I do?' and they say, I don't have travel insurance, can I cancel?'
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"Well look, unless you've got flexible booking, I'm going to say something that sounds very trite but I just want you to understand. You can't expect the hotel or the flight company to give you your money back."
He continued with the analogy: "If you bought a tennis racket and you broke your arm, you can't say the tennis racquet is faulty. The tennis racquet is still working.
"The flight is still available, the hotel is still available, they're not going to give you your money back, that's why we have travel insurance, to cover us not just for when we're on holiday but in case something happens that stops us going on holiday.
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"Otherwise you get stuck like that. Please, ASAB."
An article on the official Money Saving Expert website advises: "If you've booked a holiday but not got travel insurance yet, DO IT NOW, DON'T DELAY.
"Half travel insurance's value is protecting you BEFORE travelling if something happens and stops you from going, in addition to cover once you are on holiday."
The website did, however, point out that 'sadly no policy covers every scenario'.
Featured Image Credit: ITV/Greg Bajor/Getty ImagesTopics: Martin Lewis, Money, Cost of Living, News, UK News, Travel