Now that insurance contracts have classified the pandemic as a “known event,” new cancellation insurance policies will not cover Covid-related cancellations, such as a bride or groom contracting the virus. But Greg Esterhai, the chief executive and a founder of the Philadelphia-based insurance company Eventsured, said there are still benefits of getting cancellation insurance. “A power outage at your venue, for example, is a totally unpredictable event that would be covered by cancellation insurance,” he said.

But bear in mind: Some of the insurance companies that do offer cancellation insurance have lowered their coverage limits, said Les Masterson, the managing editor of Insure.com, which provides a comparison of insurance rates. He says he has seen carriers reduce their cancellation coverage to $25,000 from $50,000.

Steve Lauro, the vice president of WedSafe, a division of Aon Insurance that sells special-event insurance based in Garden City, N.Y., urges all couples to buy liability insurance. “A single lawsuit by an injured guest can easily devastate the event host financially,” Mr. Lauro said.

Ms. Ahmad-Snedegar also recommends liability insurance to her clients. “Even now, in the midst of what seems to be the one disaster on everyone’s minds, scuffed floors and twisted ankles still happen, and instead of lavishing in newlywed bliss, you could be on the hook if you’re not covered,” she said.

Although some venues have their own insurance, many require hosts to buy liability policy, often setting specific coverage and terms in their contracts, said Sharla Cartzdafner, the director of operations at Event Helper, an insurance broker based in Grass Valley, Calif.

Just as it was before the coronavirus, liability policy costs depend largely on a plan’s coverage limit and how many guests will be in attendance. Rates can also vary by provider. A $1 million liability insurance policy from Eventsured for a wedding of up to 500 people costs $117. A $1 million liability insurance policy from Event Helper for a wedding of less than 40 people costs $66.

source: nytimes.com

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