Martin Lewis has warned that if you have already booked a holiday you need to get familiar with the T&Cs.
This is because you might be forced to cancel due to COVID-19 and risk losing money.
The Money Saving Expert founder told ITV's Good Morning Britain that travel insurance providers have already started tightening up new policies.
And these updated terms could mean they are less likely to cover coronavirus-related disruption.
Martin said: “Now we’ve been on this for a while, we have seen this quite a few since I was on here talking travel insurance last week says ‘get your travel insurance ASAB – as soon as you book – and if you haven’t got it, get it ASAP.
"We’ve seen travel insurances start to reduce what they will cover."
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People most at risk of losing money are those who get their flight cancelled, but their destination is not in a Foreign Office banned area – meaning it's likely that travel disruption cover won't payout.
Firms have already started to limit travel disruption cover and so if you haven't yet got insurance it might be harder to obtain, he said.
He said: "So the key travel disruption cover, which is where it will be more likely to cover the types of events or be more likely to cover you if your flight were cancelled, but it wasn’t in a Foreign Office banned area, you can get your hotel back, some of them [insurance firms] are restricting that.
"This makes sense. Insurance is about covering the unexpected and there is growing foreseeability that this is expected so they don’t want to give you the travel insurance cover."
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Martin doubled-down on his previous travel insurance advice and told people to "get cover now".
He also had two separate bits of advice for people who have booked holidays based on the cancellation policy that they have.
The money expert said: "One more big tip, just really important, I’ve been doing a lot of thinking on travel, everybody now, if you’ve got travel booked, find out what your cancellation rights are.
"When’s the last time, if you’ve got free cancellation, that you can cancel? Put in your diary in a big red mark so you know you’re going to be able to call up.
"If you can cancel for free if it looks like you won’t be able to travel, on the last day cancel for free.
"If you can’t cancel for free and you will lose all your money, don’t cancel then leave it, and hope that by that time the Foreign Office has said you can’t go so your travel insurance will be impacted. There’s a division of strategy here."
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