The military lifestyle can make wedding planning difficult. While unexpected deployment and PCS orders are becoming less common, the Covid-19 pandemic has created additional uncertainties and obstacles to planning major events.
To deal with financial threats, planners recommend marriage insurance.
Table of contents What is marriage insurance? Why You Should Consider Marriage Insurance If You’re in the Military What Marriage Insurance Types of Marriage Insurance What Marriage Insurance Doesn’t Cover Marriage Insurance PricesHow to File a Military Marriage Insurance ClaimTips for Getting the Best Military Marriage Insurance Policy
What is a marriage insurance?
Marriage insurance is basically insurance for special events. Different policies offer different levels of financial protection against unexpected events that could delay or prevent a rehearsal dinner, ceremony or reception.
USAA spokeswoman Rebekah Nelson said USAA’s special events policy protects members from unexpected financial losses for situations beyond their control.
These may include supplier bankruptcy, extreme weather, or implementation. It may also include an accident or illness of the event host or an immediate family member.
Why You Should Consider Marriage Insurance If You’re in the Military?
Weddings are expensive events, so it’s worth taking precautions against unexpected factors, said wedding planner and military husband Bree Carroll.
She said knowing what protection contracts and policies will make military couples feel stronger as they navigate changes in their big day.
“Covid-19 is really impacting most reasons for rescheduling weddings in 2020 and 2021,” she said. “Insurers, however, are light on this.”
Carroll cited the position of the insurer WedSafe.
In a statement, Steve Lauro, vice president of WedSafe, said the company is handling coronavirus claims on a case-by-case basis “to properly assess what coverage applies to each bride and groom, because of the endless variables and scenarios that can arise.”
Lauro added that every policy is different and couples should read their terms and conditions carefully and contact the company if they have any questions.
Above all, he said, couples should do everything they can to stay long before their wedding.
Carroll also said marriage insurance is especially a good idea if one or both spouses serve in a rapid-deployment combat unit or are frequently called up on short missions, work trips or emergency services.
It may also be a good idea if a military family is scheduled for a permanent change of station near the wedding date.
“Nothing is guaranteed,” said Carroll. “Every military spouse needs to keep an eye on what’s happening in the world — the other shoe could fall any minute,” she said. “But we are grateful that that (implementation) schedule is becoming more predictable.”
What marriage insurance covers?
According to Nelson, most wedding insurance policies cover seller bankruptcy, bad weather, and damaged or lost clothing or wedding rings. For military couples, marriage insurance may also cover the withdrawal of leave or unexpected employment.
However, coverage varies by provider, policy and type.
There are two types of military wedding insurance: event liability insurance and event cancellation insurance.
Types of Marriage Insurance
Event Cancellation: Protects policyholders from lost deposits and non-refundable fees due to cancellations, delays, or other unexpected circumstances. Event Liability: Protects policyholders in the event of property damage or injury during the event. Some policies may include liability for alcoholic beverages from the host for alcohol-related incidents.
Nelson said event liability insurance is especially important if you’re having a wedding in an area where accidents can happen, and many venues require it.
A couple used their USAA policy to cover legal damages after a pedestrian was injured passing their downtown reception. wedding.
“The couple worked with the city and reception to ensure they were following all precautions necessary,” Nelson said.
What does marriage insurance not cover?
Event liability insurance usually does not cover willful acts or activities that are excluded by the policy. Nelson said many policies prohibit the use of firearms, animals, and “amusement devices” such as inflatables or ATVs.
Contact your insurance company for a full list of exclusions.
Event cancellation insurance does not cover “foreseen” circumstances or situations over which the policyholder has control, such as when the couple decides to cancel the wedding.
Nelson said coverage for cancellations due to pandemics or epidemics of infectious diseases – including COVID-19 – is still uncommon.
Please review your policy terms carefully for details on pandemic coverage.
Prices for wedding insurance
Nelson said event liability insurance starts at $75 with USAA, but the price is subject to policy limits, including liability for alcoholic beverages. Event cancellation insurance can start as low as $130.
“Marriage insurance costs are a small part of the cost of a wedding and can protect you if something goes wrong,” Carroll said.
Making a Military Marriage Insurance Claim
Filing a marriage insurance claim is similar to filing a homeowners claim, Nelson said. You must contact your policy to start the claim process.
Tips for Getting the Best Military Marriage Insurance
When looking for marriage insurance, don’t forget to ask providers if they have a military discount.
Pay close attention to differences in price and coverage.
Carroll said the laws governing wedding supplier contracts vary by state, so you should check with a wedding planner when negotiating contracts.
This is especially critical if it is a destination wedding.
Carroll suggested linking the language in a wedding insurance policy to the language in the supplier service contacts so that the two work together for the best protection of events.
“One of the things I advise clients to do is be aware of how they are covered with vendor and location contracts versus their insurance contracts,” Carroll said. “For example, the main cost of a wedding is usually the venue and food costs. If you have to change your date abruptly due to commitment, illness or other circumstances, you may have flexibility within your supplier/location contract to switch to a new plan.
If you’re flexible, changing your event plans can get you a lower insurance rate.
“It’s doable to plan a smaller, more intimate event that is just as meaningful as a large ceremony with many guests,” said Carroll.
This post Marriage Insurance Can Protect Military Members
was original published at “https://themilitarywallet.com/wedding-insurance/”
