Best Wedding Insurance of 2020

With the recent COVID-19 outbreak there have been countless event changes making insurance it a hot topic. Most policies are written to cover liability and cancelation. Look at these top policies to see which one is the best fit for you! Due to COVID-19, it is wise to check with each company as some may no longer offer cancellation coverage or may exclude COVID-19 related claims.

Originally published on June 19th, 2020 for the

COVID-19 NOTICE: Because of the COVID-19 outbreak, several wedding insurance companies are not offering new policies, especially cancellation policies. We’ve provided the latest notifications from our selected providers as of mid-June 2020. However, the situation is fluid, so it’s wise to check with providers for any updates. Liability coverage may also be affected by the pandemic. Many policies written in the included standard clauses that rule out coverage caused by a pandemic, and those written now tend to specifically eliminate claims related to COVID-19.

To choose the best wedding insurance providers for 2020, we spent dozens of hours looking into the most popular companies, analyzing their data, and comparing the four main factors at which policies must excel in order to be considered among the best.

Those key considerations start with price. The average premium for basic wedding insurance starts at $155 for basic liability (coverage of $500K to $2 million, depending on the company) and $130 for basic cancellation (coverage of $7,500). We prioritized insurance policies with lower premiums and that do not require paying deductibles.

We also considered the companies’ policies when it comes to customization. Because the option to buy last-minute coverage is so important to many couples, we gave flexibility in when and how to buy a policy a lot of weight in our choices. We also considered how well companies allowed buyers to add and/or remove covered items according to their needs.

Companies that best streamlined purchasing, customization, and claiming processes, using online features and tools were also favored.

FInally, we factored in ease of claims, based on our research on how quickly a claim for coverage under a wedding policy would be processed and reimbursed by the insurer.

Money’s Top Picks

Markel Event Insurance
Best for Bundling Liability and Cancellation

With over 70 years of experience in the insurance industry, Markel offers some of the most comprehensive and affordable wedding insurance policies. Liability insurance premiums begin at $75 for up to $500,000 in coverage, and cancellation policies begin at $130.

Best for Last-Minute Liability Coverage

Some wedding insurance companies let you purchase your liability policy one day in advance, but WedSafe goes even further: they let you purchase yours on your wedding day itself. As some other providers offer, a digital certificate of liability is sent directly to your venue and/or vendors via email right after your purchase.

Best for Customized Policies

The company that invented wedding insurance—according to WedSure’s website—is also the best we found when it comes to customized policies. Starting at $125, these policies allow you to add or remove coverable locations and services depending on the specifics of your event.

Best for Military Families

In addition to other financial services, USAA offers its members (military personnel, reservists, veterans, and eligible family members) affordable wedding liability/cancellation policies which are specifically tailored to the realities of military life. Its liability policy covers events in the US and its territories, Canada, and all cruise ships leaving ports in these locations.

What is Usually Covered by Wedding Insurance

  • Venue Issues: In case the venue is unable to serve as the location for your wedding event, you’ll be covered for any losses and/or costs related to moving to an alternative venue.
  • Property Damage: Protects you from damage to the venue’s physical property (its structure, windows, or sound system, as examples) that happen during the event.
  • Problems with Vendors: Protects in case service providers, such as musicians, decorators, photographers, caterers, parking attendants, and the like are unable to provide their services, and you incur additional costs to engage replacements.
  • Postponement Due to a Medical Emergency: Covers any costs for should the wedding be delayed due to an unforeseen injury or illness to an essential member of the wedding party – usually defined as the bride, groom, best man, maid of honor, officiator, or key service providers such as caterers.
  • Extreme Weather: As long as it’s considered “unforeseeable,” you’ll be covered from any losses related to extreme weather – usually defined as severe enough to prevent most guests or one or more of the wedding party to attend. Coverage must be bought before a weather event is imminent; it’s too late if a named hurricane or tropical storm already threatens your wedding.
  • Military Deployment: Covers costs in the case of cancellation or postponement because an essential member of the wedding party is called to serve in the military.
  • Wedding Attire: While this coverage varies significantly depending on the company, it usually takes care of any costs related to damage, loss, and/or theft of wedding attire, excluding jewelry other than the wedding bands.

What is Usually Excluded in Wedding Insurance

  • Changes of Heart: Most wedding policies will not cover the groom or bride if either one of them, or both, decides to not get married. Most cancellation policies do not even offer this type of cover, and those that do make it available only as an add-on.
  • Foreseeable/Known Circumstances: Policies generally will not cover you for any losses deriving from circumstances that are either under your control or that could have been easily prevented or foreseen. An example might be not covering the cost of a replacement for the vintage car a friend promised to lend, but then failed to honor the promise.
  • Jewelry: Any losses related to jewelry—other than the wedding bands—will usually not be covered by your policy.
  • Theft of gifts: As a rule, standard wedding insurance doesn’t cover the theft of gifts, including cash, at the reception or other wedding events.

Learn even more by reviewing Wedding Insurance 101

See more specifics and the full article on The Best Wedding Insurance of 2020 or go to the individual company links to reach out for your individual quote. Want to learn more? Check out Wedding Insurance 101!

Artwork the property of Money & Getty Images

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