Event Insurance Coverage Details – Loss of Deposits

See Full Event Cancellation / Postponement Plus Insurance Sample Policy

Coverage A: Event Cancellation Coverage B: Extra Expense
Coverage C: Event Photographs and Video Coverage D: Event Gifts
Coverage E: Special Attire Coverage F: Special Jewelry
Coverage G: Loss of Deposits Coverage H: Professional Counseling

Coverage G: Loss of Deposits

We will indemnify you, in excess of the deductible, for:

  1. Any deposits paid by you or the honoree for the event related to transport, catering services, accommodations (including travel arrangements and accommodations for a honeymoon, if applicable), special attire, special jewelry, flowers, event photographs and event videos, and entertainment expenses, which are nonrefunded as a direct result of a cessation of business operations prior to the event by the providing vendor; and
  2. Any deposits paid by you or the honoree for travel arrangements and accommodations on cruise ships which are non-refunded as a direct result of a cessation of business operations prior to the event by the providing vendor, provided that the event was to be held on the cruise ship designated in the declarations page.
  3. Any deposits paid by you or the honoree that are not collectable from a vendor who fails to provide the event items, services or locations it was obliged to provide under a written contract executed prior to the event.

Coverage G: Exclusions

We will NOT indemnify you for any of the following:

  1. Any sum for which an amount has been paid under Coverage A of this policy;
  2. Any lost deposits relating to event photographs or event videos, if payment is made under Coverage C of this policy;
  3. Any lost deposits relating to event gifts, if payment is made under Coverage D of this policy;
  4. Any lost deposits relating to special attire, if payment is made under Coverage E of this policy; or
  5. Any lost deposits relating to special jewelry, if payment is made under Coverage F of this policy.

The maximum amount we will indemnify you for under Coverage G is the amount stated in the declarations page for “Loss of Deposits”, regardless of the number of claims made under the policy.

The information contained here is for illustrative purposes only and coverage under the Private Event Insurance Program is expressly subject to the conditions, restrictions, limitations, exclusions and terms of the policy documentation issued by the insurer. Availability of this program is subject to each state’s approval and coverage may vary by state. This program is underwritten by Markel American Insurance Company.