Covid19 and Insurance details

jamesf85

Hi all,

I’m getting married in Spain in May.

What I’m thinking is with this outbreak that wedding insurance might be a good idea.

What I’m worried about is will insurance companies deem the virus as an act of god?

Eggs For Dinner

You can insure against acts of god.

jamesf85

Eggs For Dinner wrote: »

You can insure against acts of god.

How would someone go about that?

Peregrinus

What exactly is the risk that you want to insure against?

- That you yourself or your spouse will be ill, and so unable to travel?

- That travel restrictions or quarantine measures will be imposed which will require the wedding to be cancelled/deferred/relocated?

- That, although legally free to travel to Spain, you will choose not to because, e.g., many of your guests don't want to come, or you just decide that all things considered it would be wiser not to?

You will find it difficult to get insurance against the last risk; that's basically change-of-mind insurance and for obvious reasons insurance companies don't like to provide it. But other risks should be insurable; you just need to think clearly about what it is you want to insure against and check the policy details carefully. It may be helpful to use the services of an insurance broker. The policy will be expensive because obviously the risk of restrictions/advisories/quarantine is obvious and unusually high.

Eggs For Dinner

You would not be covered for "fear of loss". In other words, if there were no restrictions on travel, accommodation, venue etc but you or your guests decided not to proceed, you cannot claim

As for insuring against Acts of God, that is a separate issue altogether. Storm, Lightning, Flood etc are examples which are perfectly insurable. What you can't do is hold someone else liable for an act of god

jamesf85

The part we would be looking at insuring ourselves against would be travel restrictions, quarantine and a travel ban.

This virus doesn't seem to be affecting people under 70 so I wouldn't be in fear of myself but I can see airlines cancelling flights.

Not in Kansas

jamesf85 wrote: »

This virus doesn't seem to be affecting people under 70 so I wouldn't be in fear of myself but I can see airlines cancelling flights.

Just to clarify, it absolutely is affecting those under 70. The fatality rate decreases hugely as you go down through the decades but all can still get the virus and be quite ill for 2-3 weeks. The very young seem to be the exception.

jamesf85

Not in Kansas wrote: »

Just to clarify, it absolutely is affecting those under 70. The fatality rate decreases hugely as you go down through the decades but all can still get the virus and be quite ill for 2-3 weeks. The very young seem to be the exception.

I understand that you will be ill, but there's no fear over the common flu. With the exception of Wuhan the mortality rate in China is .7%. In Italy it's 3% but they can only test around 10% of the affected so that figure is probably also under 1%. It's a bad flu essentially, this is bad news for the elderly but not reason to have the panic we currently have.

Peregrinus

jamesf85 wrote: »

I understand that you will be ill, but there's no fear over the common flu. With the exception of Wuhan the mortality rate in China is .7%. In Italy it's 3% but they can only test around 10% of the affected so that figure is probably also under 1%. It's a bad flu essentially, this is bad news for the elderly but not reason to have the panic we currently have.

But the OP doesn't want to insure against the risk of dying; he wants to insure against the risk of not being able to travel for his wedding. Being under 70 (assuming he is) does not protect him against that risk.

jamesf85

Peregrinus wrote: »

But the OP doesn't want to insure against the risk of dying; he wants to insure against the risk of not being able to travel for his wedding. Being under 70 (assuming he is) does not protect him against that risk.

All my guests are well under 70. I can't speak for everyone but if airlines don't cancel their flights then I'm assuming things aren't too dangerous and we'll be ok to travel. If they do cancel then the situation is obviously more serious than I'm anticipating and I'd like to be covered for that. Seems pretty reasonable

Peregrinus

jamesf85 wrote: »

All my guests are well under 70. I can't speak for everyone but if airlines don't cancel their flights then I'm assuming things aren't too dangerous and we'll be ok to travel. If they do cancel then the situation is obviously more serious than I'm anticipating and I'd like to be covered for that. Seems pretty reasonable

Standard travel insurance should cover you if your flights are cancelled (and can't be replaced).

(But note you need to buy holiday insurance, and not just the flight insurance you are offerd by the airline when booking your ticket online. If the flights are cancelled you want all your costs back, inc hotels, etc. And event costs like your celebrant and reception and catering are non-standard for holiday insurance, so go through a broker and make sure he understands the sitaution and that all these expenses are covered. You'll be charged an extra premium for this.

jamesf85

Peregrinus wrote: »

Standard travel insurance should cover you if your flights are cancelled (and can't be replaced).

(But note you need to buy holiday insurance, and not just the flight insurance you are offerd by the airline when booking your ticket online. If the flights are cancelled you want all your costs back, inc hotels, etc. And event costs like your celebrant and reception and catering are non-standard for holiday insurance, so go through a broker and make sure he understands the sitaution and that all these expenses are covered. You'll be charged an extra premium for this.

Thanks for that. I'll try and ring around today and get some quotes.

Bigmac1euro

jamesf85 wrote: »

Thanks for that. I'll try and ring around today and get some quotes.

Did your insurance pay out in the end?