Andreas If you have booked a holiday abroad then you may have been offered the opportunity to take an out amendments policy which will often allow you to make changes to your holiday up to a week or so before you go. These policies often cost around £25 each person but can save you hundreds in the long run. If you are booking a holiday in the quite distant future then it is strongly advised that you take this out. You never know what may happen in a year or so and having the flexibility to change your holiday dates may mean you do not lose out on thousands of pounds.
If you decide that you need to cancel your holiday it is always worth checking if the money or part of it can be transferred across on to a different holiday at another time. They may even be able to put it on a gift card to allow you to redeem some of the money towards your next holiday.
Although your insurance may cover you for some losses of holiday cancellations you usually have to pay an excess and you may not be covered if you want to cancel simply because you changed your mind.