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Clark Howard says coronavirus hitting travel industry, recommends travel insurance

Jacksonville, FL — As the new coronavirus continues to spread, WOKV's Consumer Warrior Clark Howard says it's beginning to take its toll on the travel industry, especially cruise lines.

"The cruise lines that sail in that part of the world, which is pretty much all the major ones, are, for now, canning cruises that would have departed from areas close to the affected regions in China," says Howard.

Howard says since we don't know how long the coronavirus will be an issue, he says if you're book travel for spring or summer, you'll want to consider buying travel insurance. But he says you need to make sure it's a 'cancel for any reason' policy.

"You don't get back all your money, typically, with a 'cancel for any reason' policy, you get three-quarters of your money, which would be something that people might be willing to walk away from a quarter, if they're going to have no fun or worry on a trip that they were planning to take," says Howard.

But even if you don't have any big trips planned, Howard says you'll still feel the impacts of less travel as he believes gas prices are likely to fall as a result.

"As the demand falls, the supply rises, and it lowers the price for you," Howard explains.

Get more money-saving advice from WOKV's Consumer Warrior Clark Howard in his latest on-demand podcasts by clicking HERE.

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