What you need to know about travel insurance in wake of coronavirus outbreak

It’s that time of year when many of us are planning to travel for Spring Break or summer vacation. As the number of coronavirus cases rises, there is a growing interest in travel insurance. Should you buy it? Will you get all of your money back if you do?

Here are the answers to your questions

• Most travel insurance policies will not cover trip cancellation due to coronavirus concerns.
• You can purchase a premium “cancel for any reason policy” that will allow you to cancel, but they are time-sensitive and expensive.
• NBC got a quote for a typical travel insurance plan to cover a $1,000 cruise for $144. The “cancel for any reason” policy was nearly four times higher, at $563.

What you should do

• Check directly with travel providers first. Many are working with customers to refund or postpone flights and hotel stays until coronavirus concerns ease up. Some are now offering to waive change and cancellation fees for affected areas.
• If you do want to purchase travel insurance, shop around and read the fine print first. Each policy has different exclusions and levels of coverage. You will also have more options if you purchase insurance when you make your first payment for the trip.

*This story originally appeared on Click2Houston.com.