Wedding Insurance - New Date

the_gaffer

Hi all, so like many others I have postponed my wedding until next year due to the virus.

I have approached the insurance company about changing the date to next year. They asked questions about my families health.
Unfortunately, my mum has since been diagnosed with Ovarian Cancer, and as a result, the insurance company are not willing to move the date unless I accept that they will offer no cover should anything happen to my mum.

The details of dates etc are below. I guess I am looking for someone in the know to confirm if this is correct?

Wedding Insurance Taken Out: May 2019
Mums Diagnosis: June 2020
Original Wedding Date: September 2020
New Wedding Date: September 2021

Thanks

sheramber

Insurance cover unknown risks. Your mother's health is now a known risk so not surprising that they won't cover it.

the_gaffer

Yeah i understand that. If this was a new policy then ithere would be no issue.
It is not a new policy though, its the same policy which has been put back by a year.

the_gaffer

So for example, my hoenymoon nmsurance has moved to the new date under the same terms. (Cornavirus included)

Why is it different for the wedding insurance?

sheramber

 Did you advise them of your mother's change of health?.
Have you checked with them that you will be covered  if anything happens with your mother's health to lead to you cancelling your honeymoon?
Do not assume you will be covered as normally you are not covered for a pre  existing condition and should update the company  with any changes  that occur after taking out the policy.
You could end up being told they will not pay out so check with them. 

Sandtree

When you buy a policy you lock into a series of facts that the insurer uses to base the premiums on. As long as nothing changes then the insurer is on the hook if an adverse fortuitous event occurs (eg your mother's diagnosis).

If however you need to change an aspect of your policy, in your case effectively to extend it due to the change of date, then basically you are renegotiating the contract and so the insurer ceases to be bound by the previous declarations. Your insurer's are effectively giving you the choice of keeping the same date and the condition wll be covered or extend the date and the condition will be excluded.  I assume there have been no financial losses as a result of the rescheduling?

the_gaffer

That’s correct, no significant financial losses.

That’s okay then, I understand. I just wanted to make sure that there was no funny business going on.
Thanks for the advice from you both. I will re-visit the honeymoon policy also to ensure all is okay there.
Cheers