YOU ASK:

What is the definition of Weather Insurance?

WE ANSWER:

Weather Insurance provides protection against financial losses due to the interruption of business due to unfavorable weather conditions. For example, a wedding had to be called off due to extremely bad weather. This may cause financial loss as the bride or groom may have to pay cancellation fees for the caterer or the rentals for tables and chairs. Another example would be a major outdoor concert experiencing financial loss because of continuous rains on the day of the concert.

Weather insurance is usually issued on a per-day basis and covers single events, where there is financial loss or loss of income. It also usually involves a deductible amount.

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