What Does Wedding Insurance Cover?

With thousands of couples having to postpone, reschedule, or cancel their wedding due to a global pandemic, many are left wondering if their wedding insurance will cover any lost deposits or fees, or if they should seriously consider getting wedding insurance NOW for their upcoming event later this year or even next year and beyond.

While wedding insurance is always a good idea under normal circumstances, unfortunately it is most likely too late if you’re hoping for coverage during global pandemics.

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The Different Types of Wedding Insurance

First things first. You should know that there are two types of wedding insurance: Liability and Event Cancellation Insurance. If your wedding venue does not have liability insurance, you would most likely have to purchase your own. This would cover any accidents that happen on the day of your wedding. Event Cancellation insurance would cover incidents such as sudden illness, severe weather, vendor bankruptcy, and lost deposits.

According to Insureon, “a standard event cancellation insurance policy typically covers cancellation due to events beyond your control. That usually means an act of God or other circumstance that damages a scheduled venue,” however in the case of a global pandemic, that would typically only be covered with an “all cause” or “epidemic coverage” cancellation policy. And those are not readily available.

The End of Event Cancellation Insurance?

Given the current situation, you would have most likely wanted what’s referred to as a “communicable disease coverage” rider, which would have come at a premium. However, for those looking to purchase event cancellation policies or even a special rider, you would most likely not be able to get coverage for a wedding cancellation since the World Health Organization declared a global health emergency in January. Many wedding insurance companies, such as WedSafe, have also now stated that they have stopped selling any event cancellation coverage for the foreseeable future.

Going Forward…

Be sure to talk to any wedding insurance provider you currently have or are thinking of going with. Insurance policies vary, and while they might not cover a global pandemic at this point, they might cover cancellations if there is a government mandate or adjust their coverage given the ongoing situation.

 


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