The 3 Best Wedding Cancellation/Postponement Insurance Providers
Cancellation/postponement coverage is an important part of a comprehensive wedding insurance policy. It ensures you get your money back if an unforeseen disaster causes you to cancel or postpone your wedding. This type of policy also covers damage to or loss of special attire, jewelry, wedding gifts, and more. The best companies cater to large and small weddings alike by offering a wide variety of policy limits to choose from. Some wedding insurers even allow you to choose exactly how much coverage you want for extras like gift and jewelry protection. Cancellation/postponement insurance isn’t as common as liability coverage, but if you want to make sure you’re completely protected, it’s definitely something to look into. The three companies listed below offer some of the best cancellation coverage in the industry, so begin your search here.
Wedsure’s a la carte coverages earn them the top spot on the list of the best wedding cancellation/postponement insurance providers. Unlike most other wedding insurers, who include protection for the dress, jewelry, and wedding gifts as part of the cancellation insurance policy, Wedsure lets you mix and match these coverages and only purchase the ones you want. In addition, you’re able to select how much protection you want in each category as well as how much you’re willing to pay for a deductible. As far as their actual cancellation/postponement coverage goes, they offer all the basic protections against unforeseen disasters. These include illness or injury of an essential member of the wedding party, withdrawal of military leave, and severe damage to the venue, among others. Wedsure also offers the rather unique Change of Heart coverage, which ensures you’re repaid for any nonrefundable costs as a result of canceling the wedding due to the bride or groom changing their mind.
Travelers also offers fairly comprehensive cancellation/postponement coverage, though they lack the Change of Heart coverage offered by Wedsure. There are 10 levels of protection to choose from and you’re able to see exactly how much coverage Travelers provides for each type of claim before you decide which one’s right for you. The wide range of options makes the Wedding Protector Plan suitable for weddings of all sizes and budgets. Another benefit to choosing Travelers as your wedding insurance provider is you won’t need to pay a deductible in the event of a claim. They are the only company we reviewed who doesn’t require any sort of deductible from their customers. Many companies require you to pay $25 per section of the cancellation/postponement policy if you have to file a claim. This isn’t very much, but not having to pay anything at all is undeniably better. Of course, no deductibles usually means higher premiums, so factor this into your decision when selecting a wedding insurance provider.
Markel American is another company that offers solid protection in the event of an unexpected wedding cancellation or postponement. Their policy limits range from $7,500 to $175,000 in coverage, so you should be able to find an adequate level of protection regardless of the size of your wedding. If cancellation coverage isn’t your top priority when purchasing a wedding insurance policy, that doesn’t mean you have to leave yourself completely unprotected. Markel American’s liability insurance policies come with an option to add a $5,000 cancellation endorsement. This means if your wedding is cancelled due to an unforeseen event, you receive $5,000 to cover any nonrefundable deposits for the venue or vendors. This is a good alternative to a traditional cancellation policy if you just want a little bit of insurance against unexpected disasters. There’s definitely an advantage to going with a separate cancellation/postponement policy, though. If you purchase liability coverage as well, you earn a 15% discount on your premiums for both.