Martin Lewis issues 'big warning' to holidaymakers over coronavirus travel insurance

3 March 2020, 13:56 | Updated: 17 March 2020, 16:47

As coronavirus continues to spread across the globe, travel restrictions have come into place.

Coronavirus has now spread to the UK, as well as many countries across Europe.

Over 88,000 people in the world have been infected by the deadly bug, with the death toll now rising to over 3,000.

There are currently a number of travel restrictions across the world, with speculation there could be more and more put in in place as the virus continues to spread.

With this in mind, Money Saving Expert Martin Lewis has issued a "big warning" to holidaymakers over getting travel insurance.

Martin Lewis told people to buy their travel insurance as soon as they book their trip. Picture: ITV

Talking on Good Morning Britain last week, Martin told holidaymakers that have booked holidays or are looking to book a holiday abroad soon to follow his ASAB rule.

ASAB stands for As Soon As You've Booked, and is Martin's way of reminding people to get travel insurance as soon as they've booked a getaway.

“This is the big warning,” the money expert said: “I do it every year - I talk about booking travel insurance ASAB - as soon as you book.

“Because if you don’t and something happens in the meantime before you get travel insurance, you’re not covered.”

He explained that you need to get insurance as soon as your holiday is booked, especially around this uncertain time of potential flight cancellations due to spread of coronavirus.

If this does happen and the Foreign and Commonwealth Office (FCO) announces you can't travel – and you have already booked travel insurance – you will be covered.

But it you haven't, you will not be.

There could be flight cancellations due to the spread of the deadly virus. Picture: Getty

Martin warned: "Well, anyone who has booked a holiday now for this year - if you have not got travel insurance, if you get the travel insurance and the Foreign & Commonwealth Office then says you can’t go to a country, you’re covered.

“If the Foreign & Commonwealth Office rules out a country in future and you haven’t got travel insurance at that point, you’re not covered.”

He added that you will only be covered if the FCO announce you cannot travel, and not if you simply don't want to travel over fears of being contaminated.