Wednesday, April 14, 2010

Wedding Insurance Sample Policy, Part Four of Six

Finally, here’s part 4 of a wedding insurance policy! This section discusses coverage for deposits and for “counseling” which I believe refers to wedding consultation from a wedding coordinator.

08. Loss Of Deposits Coverage
You and the Honoree have this coverage only if a limit of insurance is shown for it on the Declarations page. We cover the deposits you or the Honoree have paid in connection with the Private Event if they become non-refundable as a direct result of anyone hired to provide goods or services for the Private Event going out of business prior to the Private Event date.
a. What We Will Pay Under Loss Of Deposits Coverage
We will pay, up to the limit of insurance, the following deposits you or the Honoree have paid in connection with the Private Event which you or the Honoree cannot have refunded by anyone hired to provide goods or services:
(01) deposits required to rent the premises where the Private Event was to be held;
(02) deposits required for transportation such as limousines and air fares in connection with the Private Event;
(03) deposits required for Professional catering services;
(04) deposits required for hotel accommodations in connection with the Private Event;
(05) deposits required for the Professional photographer, Professional videographer, Professional musicians or other Professional entertainment and Professional florist in connection with the Private Event;
(06) deposits required for Rented Property;
(07) deposits required for the Professional dressmaker, Professional tailor and deposits required to rent Special Attire;
(08) deposits required for Jewelry;
(09) if the Private Event is a wedding, deposits required for transportation including airfares, hotel accommodations and cruise ship accommodations in connection with the honeymoon.
b. Exclusions-What We Do Not Cover With Wedding Insurance Under Loss Of Deposits Coverage
(01) Cancellation Or Postponement
We do not cover the loss of deposits which are covered under or which have been paid under Section I A. 01. Cancellation Or Postponement Coverage.
(02) Gifts
We do not cover the loss of deposits for Gifts if any claim has been or will be made under Section I A. 04. Gifts Coverage.
(03) Jewelry
We do not cover the loss of deposits for Jewelry if any claim has been or will be made under Section I A. 07. Jewelry Coverage.
(04) Nuclear Action Or War
We do not cover the loss of deposits caused by Nuclear Action or War.
(05) Photographs And Video Recording
We do not cover the loss of deposits for the Professional photographer or the Professional videographer if any claim has been or will be made under Section I A. 03. Photographs And Video Recording Coverage.
(06) Rented Property
We do not cover the loss of deposits for Rented Property if any claim has been or will be made under Section I A. 05. Rented Property Coverage.
(07) Special Attire
We do not cover the loss of deposits for Special Attire if any claim has been or will be made under Section I A. 06. Special Attire Coverage.
09. Professional Counseling Coverage
You and the Honoree have this wedding insurance coverage only if a limit of insurance is shown for it on the Declarations page. We cover the expenses you or the Honoree necessarily incur for Professional counseling if the Private Event is Canceled or Postponed for a covered cause of loss.
a. What We Will Pay Under Professional Counseling Coverage
We will pay, up to the limit of insurance, the expenses you or the Honoree necessarily incur for Professional counseling as a result of emotional distress because the Private Event is Canceled or Postponed.
b. Exclusions-What We Do Not Cover Under Professional Counseling Coverage
(01) We do not cover the cost of Professional counseling unless it has been prescribed by a medical physician.
(02) We do not cover the cost of Professional counseling for more than 180 days from the date the Private Event is Canceled or Postponed.
(03) We do not cover the cost of Professional counseling unless the cancellation or postponement of the Private Event is covered by this policy.
B. Limits Of Wedding Insurance
Regardless of the number of claims made, the amount shown in the Declarations as the limit of insurance for each separate coverage is the most we will pay in the aggregate for all claims or losses involving that coverage that arise from all Occurrences during the Policy Period.
C. Deductible
From the total of all expenses or losses arising out of any one Occurrence, we shall deduct the amount shown in the Declarations as “Deductible”. The deductible shall apply separately to each coverage.

We will continue with section five next time. This policy is a basic and standard example of what may or may not be covered with your particular wedding insurance policy.

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