The 7 Best Wedding Insurance Policies of 2020

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Wedding insurance is a type of special event insurance that can cover you for unexpected financial losses resulting from various circumstances, including unexpected illness, cancellation, and the theft of wedding gifts. But all wedding insurance is not the same. Depending on the type of nuptials you will have, the number of guests, and what your needs are, one wedding insurance product may be better for you than another.

When purchasing coverage, you will have a few options to buy:

  • Wedding and Event Liability: Covers liability at the venue for property damage or injuries to guests that you may be held responsible for. 
  • Host Liquor Liability: Will protect you against liquor-related incidents. If you are hosting a wedding at home, this may also be something you need to consider.
  • Venue or Additional Insured Liability: If your wedding requires you to provide liability coverage for the venue or additional named insureds, you may have to add them to the policy.
  • Cancellation or Postponement: Reimbursements of any nonrefundable lost deposits up to the limit of the policy.
  • Additional or Special Coverages: If you want to insure your dress, or tuxedo, gifts, photographs or other items against damage or theft (i.e. if you rip your wedding dress accidentally). 

Although all the wedding insurance companies we reviewed offered liability and cancellation insurance, each one has its own special features. Each service also had its own policy wording and exclusions. The verbiage in the policy can make a big difference in providing coverage for (or excluding) items that may be important to know about, for example, Coronavirus (COVID-19). 

We reviewed a roundup of the top wedding insurance companies with pros, cons, and some of the perks and benefits to help you decide on the best coverage. <b>Currently, none of the services are offering insurance for COVID-19 related claims, and they have posted exclusions on their websites</b>.

The 7 Best Wedding Insurance Policies of 2020

Best Overall: Travelers Wedding Insurance

Travelers

Travelers

Travelers has been selling insurance for over 160 years. They offer a wedding insurance product that can cover you for destination weddings or at home. 

Travelers can insure weddings in the U.S., its territories and possessions. That includes: Puerto Rico, Canada, United Kingdom, Bermuda, The Bahamas, Turks & Caicos, The Caribbean Islands (excluding Cuba & Haiti), and cruise ships leaving from a port in any of these locations

They also offer insurance for homes, cars, and more, making it easy to insure your wedding ring or other valuable articles after the big day, too. Travelers is our top pick for Best Overall due to the convenience of buying a policy, no deductible, good coverages, and their ability to cover weddings in most destinations. 

Pros: What We Like

  • Great reputation
  • Coverage available through a representative or online quote
  • Venues can be insured at no additional cost 
  • Purchase two years to 24 hours before the event
  • Up to about $1,000,000 liability
  • No deductibles
  • Great for destination weddings
  • 24/7 claims service

Cons: What to Look Out For

  • Not available in Alaska, Hawaii, and Louisiana
  • No refund available once a policy is issued
  • DJs, bands, and caterers cannot be added to the policy

Best for Last-Minute Changes: Wedsure

Wedsure

Wedsure

Wedsure has been in business for more than 25 years and is underwritten by Allianz insurance. As the original wedding insurers, their coverage options include all the standard features and some specialized ones that no one else offers, like Change of Heart. 

If you are funding a wedding for family members, your children, or you want to protect the investment of someone helping to finance your wedding, then Wedsure is the only company we found who insures a change of heart. The change of heart coverage will compensate an innocent third-party financier if the wedding is canceled by the bride or groom 365 days or more from the date of the first covered event.

Wedsure also offers property coverage in a few places that other top picks don't offer, such as Australia, British Virgin Islands, or New Zealand. Aside from the U.S., the U.S. Virgin Islands, and Puerto Rico, they also offer coverage in Canada, Ireland, Scotland, England, and Wales. 

Pros: What We Like

  • Quote available in 15 seconds with Instant coverage available
  • Coverage includes host liquor liability
  • Customizable coverage options, deductibles, and dollar amounts
  • Change of Heart coverage to protect a third-party wedding funder
  • Professional counseling coverage provided it results from an insured cancellation
  • Several liability coverage options ranging from approximately $1,000,000 to $3,000,000
  • A partial refund of the policy up to 30 days prior to the event if no claim is made
  • Online policy management
  • Covers up to four related events on the policy

Cons: What to Look Out For

  • Liability coverage limited to U.S., U.S. Virgin Islands, Puerto Rico, and Canada
  • No option to remove liquor liability
  • Pricing may be high or confusing due to the customization options

Best for Wedding Liability Coverage: Wedsafe

Wedsafe

Wedsafe

Wedsafe was established in 1999 and issues wedding insurance through Nationwide, backed by Aon Affinity and K&K Insurance. They offer event liability insurance with a very comprehensive wording and can cover the venue and additional named insureds. 

Wedsafe also offers coverage for liability in (and on cruise ships) departing from the U.S., Canada, Puerto Rico, or any territory or possession of the U.S. like the U.S. Virgin Islands. 

For their cancellation and postponement coverage, we like that you're able to choose different levels of insurance in categories, such as the ceremony, reception venue, caterer, photographer, videographer, flowers, special attire cake, music, and other wedding purchases. They have a low deductible on their cancellation policy. This level of coverage selection allows you to assign amounts that fit your event and budget.

There's also extended optional territory coverage. Wedding cancellation and postponement insurance are available in (and on cruise ships departing from) the UK, Mexico, the Bahamas, Bermuda, and Caribbean Islands (excluding Cuba) at only about 10% more than the cost of cancellation insurance for the U.S.

Pros: What We Like

  • Purchase liability insurance up to the day of the wedding
  • About a 15% discount to bundle wedding liability and cancellation 
  • Host liquor liability is included without charge
  • Additional named insureds like the venue can be added 
  • Covers Job-loss in the cancellation policy
  • Around 10 different cancellation coverage limits to choose from approximately $7,500 to $175,000
  • Up to about $5,000,000 liability
  • Claims service is available during business hours, with an emergency, after-hours service 24/7

Cons: What To Look Out For

  • A $15 rate purchasing group fee will be added to premiums quoted
  • Limitation of theft of cash, checks, and money orders of about $300
  • Mysterious disappearance is excluded, and thefts must be reported to the police
  • Policy wording for liability is very long and may be confusing

Cancellation and postponement insurance is not currently available due to COVID-19.

Best for Cancellations: Wedding Protector Plan

The Wedding Protector Plan

The Wedding Protector Plan

Where most wedding insurance policies focus on liability as the primary area of coverage, the Wedding Protector Plan is for cancellation and postponement and offers liability as an optional addition. This may be ideal coverage for you to consider when you are having the event at a venue that provides their own liability coverage. 

Pros: What We Like

  • No deductible for wedding insurance
  • Instant online quote and coverage
  • Covers a “next-day brunch”
  • Wedding ceremony, reception, rehearsal, and rehearsal dinner coverage
  • Coverage if the wedding is canceled due to a lack of funds because of unemployment
  • Up to about $1,000,000 liability
  • No additional service charges or processing fees added to online quotes
  • 24-hour claims service 

Cons: What to Look Out For

  • Liquor liability is available for an additional fee
  • Liability Insurance is only available in the U.S. and its territories, Canada, and Puerto Rico
  • Post-wedding brunch is not covered in Massachusetts, New Hampshire, and Vermont

 

Best for Basic: Markel Insurance Wedding Insurance

Markel Insurance Wedding Insurance

Markel Insurance Wedding Insurance

Founded in 1980, Markel is a specialty insurer in a niche market. They offer wedding and event insurance, as well as other property and casualty insurance for collector cars, yachts, and home insurance. 

Markel offers all the types of coverage you may need to insure your wedding, and low-cost options to add extra coverage. For example, a $5,000 cancellation insurance add-on costs around $50.

An online quote gives you the opportunity to select from various pre-set customization options, so you do not have to figure it all out on your own. Policies are sold through licensed insurance agents who can help understand coverage, and also can offer other personal insurance. Markel is ideal if you're looking for basic policies with a great value.

Pros: What We Like

  • Offers a 15% discount for bundling liability and cancellation insurance 
  • No additional cost to add additional insureds like the venue
  • Offers a quick online quote with guided customization options
  • Liability ranges from about $1,000,000 to $2,000,000
  • Offers around a $50 rider to protect up to $5,000 of cancellation coverage
  • Features approximately a $25 deductible on cancellation policy items
  • Purchase liability up to one day before the event

Cons: What to Look Out For

  • Possible exclusion for communicable diseases
  • About a $1,000 deductible on liability
  • Around a $300 limit on cash and cheques

Best National: Event Helper

Event Helper

Event Helper

Event Helper has been offering insurance since 2009. The company offers host liquor liability and the ability to add more insureds for multiple venues in their basic liability policy. This could save you money compared to other wedding insurance providers, who may add these at additional cost.

Event Helper is an event specialist with the ability to cover large events of up to 5,000 guests. This service is ideal if you want to go through your insurance agent or online, and issue policies limited to the U.S.

Pros: What We Like

  • Instantaneous confirmation of insurance
  • A money-back guarantee that the venue will accept coverage 
  • Host liquor is included in the policy and cannot be removed
  • Covers events up to around 5,000 attendance
  • Liability from around $2,000,000 to $3,000,000
  • Buy a policy online or over the phone
  • No-fault medical expense coverage

Cons: What to Look Out For

  • No payment plans
  • Coverage limited to the United States
  • Per day costs
  • No 24/7 claims service

Best For Members of the Military: USAA

USAA

USAA

USAA is a well-known name in insurance, providing home and car coverage to many, in addition to other offerings. Through alliances with special event companies, they can also provide coverage for weddings.

USAA is ideal for military members because they cover several locations around the world and will also cover the postponement if the guest of honor is in the police force, active military, or fire department, and if they are deployed (or due to the withdrawal of a previously granted leave).  

The program is offered through Markel. Although Markel also offers insurance direct, going through USAA may allow you to take advantage of the member advantages and customer service expectations. 

Pros: What We Like

  • Can cover destination weddings in the U.S., Canada, and cruises from those ports for liability
  • Can cover cancellation/postponement in the U.S., Canada, UK, and the Bahamas, Bermuda, Caribbean Islands, Mexico and cruises leaving those ports
  • Can provide liability coverage as late as 24 hours in advance of the event
  • Covers a rehearsal/dinner within 48 hours
  • Covers set up/tear-down within 24 hours of the event
  • Liability from around $1,000,000 to $2,000,000
  • Money-back guaranteed to meet venue liability requirements
  • Host liquor liability

Cons: What to Look Out For

  • Only available to members of the USAA

How We Chose the Best Wedding Insurance Providers

To select our top picks for wedding insurance providers, we wanted to make sure that the services we recommended were accessible, could provide adequate expertise, and had enough coverage offerings to protect you.

To do this, checked several factors for wedding insurance providers in the U.S., including how long they were in business, their availability throughout the country, who underwrites their policies, if they offered online quotes, if they offered sample policies online, if they provided FAQs, testimonials, and claim examples, and if they offered the base types of wedding insurance coverage (liability and cancellation).

Companies who not only offer their own program, but act as the selling partner behind other brands, or other providers, were identified. Similarly, those who appear to sell their own insurance, but then redirected to one of our top picks were eliminated unless we found value-added coverages or differences that might give you an advantage in checking both out. For example, USAA could provide member advantages in addition to the wedding insurance itself.

Once an insurer passed these criteria, we dug deeper and then compared our finalists side-by-side to see what differentiated them from each other, and which ones could provide that extra value add. If a wedding insurer was missing essential features, we didn’t include them.

What We Compared

Coverage specifics: We read the wording and definitions in liability and cancellation contracts wherever possible, keeping key coverage concerns in mind to see how each one might cover you in a claim.

Value-added services: We checked each company to see what the coverage differentiators were, and noted any items that stood out. For example, we looked at insurance for policy cancellation due to financial hardship like being unemployed suddenly, change of heart coverage (only offered by one insurer), or the ability to add a small rider to cover cancellation, instead of making you buy a separate policy, to name a few.

Deductibles and Coverage limits: We checked the maximum coverage limits available, if there were customization options, or if it was a “one size fits all” plan. Where clarification was needed, we called the insurers to ask them how coverage applied and paid attention to how intuitive everything they were explaining was. We also asked questions to cross-check information when we did not see a certain type of coverage, to make sure we weren’t missing something.

Special Coronavirus (COVID-19) Considerations

In the insurance business, the time to shine and give your clients value is when there are major losses. How an insurance company responds can give you an understanding of what kind of insurer they will be for you when you need them.

Because of the current Coronavirus Pandemic, we also reviewed each company's responses to Coronavirus questions, claims, and coverage on their websites. We also looked at any examples of how they were communicating with their existing policyholders about potential claims. We compared their answers to the contract wording and included anything of notable interest in our reviews, or in this special Coronavirus section to help guide you.

Things to keep in mind during COVID-19:

  • Liability insurance for weddings is still available for all other liability related issues (someone slips and falls, you cause danger to the venue premises, etc.)
  • Cancellation policies are not being sold by most vendors, but some may sell it with a COVID-19 exclusion. Other cancellation reasons may still apply, but you have to call the company to find out. 
  • If planning a wedding in the future, as the situation stabilizes we can expect to see new wording for situations like this, possibly exclusions and/or the insurers reopening applications for cancellations (due to all the other possible reasons that may occur). Check again with wedding insurance vendors in a few months to see if they offer it now. 
  • If you purchased cancellation insurance prior to COVID-19 being a “known event,” then policies may be paying out on claims. Call your claims service to find out.

Key Takeaways

To find the best coverage and price for your situation, we found knowing the answers to the following would help you:

  • Know your wedding costs to help decide if you need a policy with more customization, or if standard limits will be enough.
  • Identify any big-ticket expenses that you may want to make sure are insured vs. smaller items that will not impact you if you lose the deposit.
  • Consider if you can afford a higher deductible to save money (not all insurers let you customize the deductible or coverages); if your costs are lower, a no-deductible plan might be a better choice.
  • The number of guests, how many days of coverage you need, and the type of venue you choose will drive the cost of the wedding insurance up or down.
  • Shop around once you have your list of needs, expenses, deposits, and other items you may or may not want to insure ready, and see what each insurer will offer you. 

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