April 23, 2024

Bucks: The Fine Print on a Wedding Insurance Policy

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Wedding bells rang Friday for Prince William and his bride, Kate Middleton. Fireman’s Fund Insurance Company took the opportunity promote its wedding insurance policies by writing a “tongue in cheek” letter to the happy couple.

“Here in the U.S., we even offer a ‘change of heart’ provision,” the letter says. “If the bride or groom gets cold feet, we’ll cover the cost of the wedding (but we’re confident that wouldn’t happen with either of you).”

Even if yours isn’t a six-figure event involving royalty, weddings are often big-ticket affairs in which a lot can go wrong. So some sort of insurance protection is not all that unreasonable. In fact, according to www.wedsure.com, a site maintained by a Fireman’s affiliate, wedding claims paid out have included $15,897 for a bride who backed out, $8,350 due to a minister who failed to show and $3,412 for a bridal gown lost by the seamstress.

The policies are marketed as a way to cover unforeseen damage to wedding gowns, gifts, jewelry etc. But the insurance company’s letter didn’t mention some of the caveats that go along with the “change of heart” provision, or numerous other asterisks that may prevent policy holders from collecting.

Here’s a list of some of our favorite exclusions and other details from wedsure.com, which helpfully includes a sample policy:

1. Change of heart coverage. Only pays out if the person paying for the wedding isn’t the bride or groom, and if the change of heart occurs at least 180 days before the event. Also, the person who wrote the check must have “had no prior knowledge of a pending change of heart” by the party with the icy feet.

2. No coverage for expenses incurred if the event is canceled or postponed due to bodily injury to any person caused by or resulting from, among other things, taking part in any hazardous sport or activity, including (but not limited to) hunting, skiing or sledding, racing of vehicles of any kind; skin diving or sky diving.

3. Forget about collecting for the loss of or damage to photographs or video recordings caused by “nuclear action or war.”

4. No coverage for bodily injury, property damage or personal injury resulting from any aquatic activities or event.

5. Ditto for injuries or sustained while doing any of the following: bicycling, bungee jumping, climbing, equestrian activity, hiking, ice skating, paint ball, roller skating, skate boarding and trampoline.

6. No coverage for loss or damage to jewelry caused by theft from an unattended vehicle (unless, that is, the jewelry was “locked and secured”; the car had an audible alarm that was armed; and there are visible signs of forced entry, requiring repair to the vehicle).

7. No coverage for loss or damage by breakage, marring, or scratching of gifts that are statuary, marble, glass, china, porcelains, furniture or other fragile items (unless the damage is the “direct result” of situations like “fire, explosion or smoke; lightning, windstorm, hail, earthquake or flood; aircraft, spacecraft, self-propelled missiles, or objects that fall from any of these; strikes, riots, civil commotion or vandalism; sprinkler leakage, or collapse of buildings).

Did you purchase wedding insurance for your big day? What was your experience with any claim you filed?

Article source: http://feeds.nytimes.com/click.phdo?i=658fcd6e3ed5fbb0035bf058f20c5f4f

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