Martin Lewis has issued an urgent warning to Brits who are thinking of cancelling their summer holiday.
The MoneySavingExpert founder continues to advise the nation on their finances during the coronavirus pandemic.
In his latest newsletter, Martin warned holidaymakers that if they cancel their summer booking they will lose all their money.
Instead, Brits should wait for the company to cancel the holiday, which automatically entitles the customer to a refund.
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, click here to MoneySavingExpert.com.
Receive newsletters with the latest news, sport and what's on updates from the Liverpool ECHO by signing up here.
