Aashna Shroff, personal finance expert at money.co.uk, comments: "If you're already down in Cornwall, you're unlikely to get any money back for travel and accommodation costs, unless both were part of a package deal.
"However, if you have annual travel insurance cover, it's worth checking the policy. A number of travel insurance policies offer cover for UK breaks.
"As the festival has been cancelled at short notice for reasons out of your control, in this case due to bad weather, you might have a case to make a claim for any costs incurred.
"Those who used a credit card to book travel and accommodation, may be able to make to claim under Section 75 of the Consumer Credit Act.
"If you haven't travelled down to Cornwall yet, again it's worth checking your travel insurance and calling your credit card company, to find out if you are eligible for a refund.
"Depending on the policy of the hotel or hostel, you might be able to cancel your booking with no or little penalty. But bear in mind, they are under no obligation to do so at such short notice.
"GWR has said that some of those traveling by train may be eligible for a refund, so it's worth checking if that applies to you."