As wedding costs skyrocket–about $27,000 today–wedding insurance (though another added expense) is almost a necessity. Not only will wedding insurance allow you recoup out-of-pocket expenses in the event of an unforeseen disaster–causing you to postpone or cancel you wedding–it will also give you peace of mind.
What is Wedding Insurance?
Wedding insurance is an insurance policy that protects you from financial loss due to wedding cancellation, postponement or other circumstances beyond your control–such as vendor loss.
What do Wedding Insurance policies generally cover?
Not all wedding insurance policies provide the same coverage, so check with each of the companies you’re considering for specific details of their policies. Make sure that their coverage fits your needs.
Typical wedding insurance coverage might include:
Weather Insurance:
In case of rain or other bad weather, a wedding insurance policy should cover the cost of rescheduling.
Illness, Injury or Cancelled Flights:
If you, your groom or another essential part of your wedding party becomes ill or injured (and causes the wedding to be postponed), the expenses incurred should be covered. Also, an airline flight of a key person in the wedding is cancelled, insurance may cover the costs of rescheduling the wedding. as well.
Officiant:
If your wedding officiant doesn’t show up, you may be able to recoup some of your costs.
Vendors:
If your photographer, florist, caterer, limo driver or other vendor is a no-show, you’ll recover some of your costs–and possibly the costs of rescheduling your wedding. Also, if one of your vendors goes out of business before your wedding, you may be covered for non-refundable deposits.
Your Location:
If your ceremony and/or reception site doesn’t have their own insurance, your wedding insurance policy can cover damages due to fire, electrical or mechanical problems. Also, if they go out of business, insurance may cover the cost of rescheduling your wedding.
Do I need Supplemental Wedding Insurance coverage?
Suplemental Wedding Insurance is just that…supplemental. It can be purchased in addition to your regular wedding insurance policy for more specific coverage. Supplemental insurance can cover:
Military Service:
If you or your groom are in the military or on active reserves, you may want to be insured in case either of you are called to duty suddenl, and the wedding is postponed.
Photography:
If you have a problem getting your wedding photos from the photographer, or the pictures are of poor quality, supplemental wedding insurance could cover the cost of recreating key wedding moments, including cutting the cake, recreating your floral arrangements and having key people present for photo re-shoots.
Gowns and Tuxedos:
Supplemental insurance can cover loss and damage of gowns and tuxedos. It could also include reimbursing you if the store goes out of business.
Gifts:
If your homeowners or renters insurance doesn’t cover loss or theft of wedding gifts, you may want to protect yourself with supplemental insurance.
Liability:
Most sites carry liability insurance, but if you’re having your wedding at home or the location isn’t covered, you’ll want to be protected in case a guest gets hurt or hurts someone else.
Honeymoon:
Protect yourself against honeymoon cancellation due to illness, bad weather or other unfortunate circumstances.
What isn’t covered by Wedding Insurance?
Wedding insurance does not cover loss because of cold feet or for circumstances that were already present before the policy was purchased.
How much is Wedding Insurance?
Wedding Insurance policies are relatively inexpensive. A basic policy might cost between $125-$500.
How do I pick an insurance company?
When you’re shopping around for your wedding insurance policy, make sure:
- The insurance company has a license;
- To ask how much they reimburse for different types of loss;
- They offer supplemental coverage; and
- Find out what kinds of supplemental coverage that they offer.
Finally…
Check each of your contracts. If they don’t include coverage to protect you and your groom against loss and wedding postponement, you should consider purchasing wedding insurance, supplemental wedding insurance and, possibly, liability insurance. The key, though, is to tailor your insurance to your own particular needs.
For other wedding planning ideas, check out these planning resources at Best Little Wedding Shop.
Lisa Bakewell