(September 2020)
Wedding Insurance is a non-standard form of special event coverage. Therefore, the policy used by the company issuing coverage is a proprietary form. Wedding insurance consists of protection against exposures that disrupt wedding plans and related events.
Wedding coverage is provided by issuing the following:
Related Article: Wedding Insurance Declarations Page
Related Article: Wedding Insurance Coverage Analysis
Related Article: Wedding Insurance Available Endorsements
Private Event Cancellation Insurance Property Coverage—this part of the policy handles loss related to the wedding’s cancellation or postponement. Specifically, it reimburses the insured for non-refundable expenses paid for facilities, hall rentals, catering, florists, hotel, transportation, and other costs.
Additional Expense Coverage—pays for added costs incurred by an insured or honoree in making alternative arrangements in order to proceed with the covered event.
Event Cars and Transportation—this involves a limited amount of protection for expenses related to a need to arrange for alternative transportation but only when circumstances are NOT under the wedding party’s control.
Other Wedding-Related Protection—depending upon the given insurer’s
form, a wedding insurance policy provides other protection such as the following:
Personal Liability—protects the insured against losses or lawsuits that allege that the insured/honoree is responsible for bodily injury, personal injury, or property damage to a third party when it occurs at the covered event. Coverage includes a duty to legally defend an insured/honoree against claims/losses.
Medical Payments to Others—applies to incidents of bodily injury that occur to persons other than the insured or the honoree when they occur at the covered event. It pays for a wide variety of expenses connected to treating injuries.
AVAILABLE
ENDORSEMENTS
Several endorsements are available to tailor a Wedding Insurance policy.
Related Article: Wedding Insurance Available Endorsements
UNDERWRITING
Underwriting a wedding insurance policy varies by insurer. Items that may make an event ineligible are amount of time before the scheduled event, level of liquor liability exposure and number of guests. Many aspects of homeowner underwriting may be helpful in underwriting this coverage.
Related article: Homeowners Program Underwriting Considerations
RATING
Wedding policies are usually priced on a flat dollar, base rate. Higher premiums are, typically, additional flat amounts according to selected bands of package coverage, number of attendees, length of coverage and deductible.