You are reading your policy correctly. It will cover the pregnancy, L&D and recovery. Your intended parents' insurance, if they have insurance that includes IVF, will cover IVF up through egg retrieval and fertilization but the transfer and all of your drugs will have to be paid by them out of pocket. Once the pregnancy is established, your own insurance will kick in just as with any other pregnancy. My employer self-insures, which means that it can get away with changing the rules mid-game so our attorneys had the intended parents purchase a separate insurance policy for me above and beyond my work policy in case my employer fought the coverage. The additional policy cost them appx $350 per month for 10 months. We didn't end up having to use it and I had no problem using my own insurance. I don't think it's wrong - if you were giving up a baby for adoption, it would be the same type of thing and no one would call that wrong.
Edited to add - do NOT mention this to your employer, HR or insurance company. If and when the time comes to pursue this, the attorneys who are handling the contract and who are experts in gestational carrier issues will guide you with what to tell whom. And regarding the thought that pregnancy should be excluded because it resulted from IVF, um, NO lol. The whole point of IVF is a pregnancy. Once a woman is pregnant, unless an insurance contract literally stipulates against surrogacy (as TriCare does - that's military health insurance and this was added in recent years when it became obvious that army wives made attractive surrogates due to their generous health plans) then it doesn't matter how a woman got pregnant or why, the pregnancy would be covered just like any other.
Good luck!