With January feeling more like a year long than a month, the temptation could be to book a trip in a bid to banish the January blues.
But according to Martin Lewis, this could be a costly mistake.
Speaking on Good Morning Britain , the MoneySavingExpert issued a warning to viewers who were planning on booking their summer holiday's this month.
However, it isn't the trip itself that is the issues, it is making sure that it is protected.
Martin said: "You need cover from the moment you go, yet far too many people book a holiday and then leave the cover until later.
"Sadly too often I hear stories like 'I've just been diagnosed with cancer, I was due to go on holiday in six weeks, but now need chemo. The airline won’t refund my ticket, what can I do?'"
"But far too often there's nothing you can do."
He continued: "Travel insurance's job is to cover you if you cant go, but if you only get it before you go, or you're missing out all the cover that it protects you in case an eventuality happens before the holiday, such as long term cancer treatment or somebody dying in the family."
Martin says that the easiest solution is to either put an annual insurance cover in place or as soon as you book your big holiday, make sure you buy insurance for that trip.
He added: "You're only covered for cancellation if you have insurance before an illness/injury, job loss, jury service call-up etc. So whether going away soon or later this year, buy ASAB (as you soon as you've booked)."
If you're unsure as to which is best, Martin advised that those who go away at least twice are year are probably better off getting an annual policy.
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