Martin Lewis has been keeping the nation well informed when it comes to finances throughout the coronavirus crisis.
The Money Saving Expert founder has made many appearances on ITV's This Morning and Good Morning Britain during lockdown to help and advise on anything from flight cancellations to car insurance.
In his latest newsletter Martin warned holidaymakers that if they cancel their summer booking they will lose all their money, reports Liverpool Echo.
Instead, those with getaways booked should wait for the company to cancel.
Martin said: "If you are trying to shore up your plans, and thinking of cancelling as 'it won't happen' or 'I won't go anyway', be careful.
"Unless the company has a generous cancellation policy, if you choose to cancel, that's a 'disinclination to travel' and you aren't entitled to money back from the firm or your insurer.
"Instead wait for the holiday firm to cancel, then you're due a refund.
"Even if it doesn't cancel, if the Foreign Office still advises against travel, as long as you bought travel insurance in time, most providers will cover you.
"If neither happens, you're likely no worse cancelling later than now. However, if you're definite you won't travel, you could ask to move the date, or for a voucher."
For further information, go to MoneySavingExpert.com.
