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Wedding Insurance: What Is It and Do I Need It

June 22, 2020
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Feeling excited about your upcoming wedding? It’s a much-awaited part of your life where you decide to start a new life with your other half. Preparations and well planning are discussed right away after deciding to tie the knot with your beloved. Everything should be set accordingly for this special event you’ve been waiting for for a long time.

Is there anything worse than planning and preparing for your wedding only to have it canceled at the last minute due to weather or some other unforeseen reason? Weddings are important and you want your event to go off without any issues. Wedding insurance helps protect your special day and the planning days leading up to it.

What is wedding insurance? 

For the bride and groom, as you celebrate the beginning of your lives together, wedding insurance can help protect your financial future if something beyond your control should go wrong. As for the parents of the bride and groom, an investment in your child’s wedding is an investment in their happiness. You want to protect their dream of a perfect wedding and your financial security.

Wedding insurance helps if you face a cancellation or postponement due to an unforeseen event such as illness, inclement weather or military deployment. If the unforeseen occurs, the wedding insurance is there to protect what you’ve invested from the start.

There are two types of coverage that wedding insurance offers. These are liability coverage and cancellation/postponement coverage. Liability coverage covers the damage that will happen at your wedding venue in which you are liable for. Cancellation coverage pays back for all the costs if you decide to cancel your wedding or delay it because of some unforeseen reasons. Additional coverage may apply if you want to ensure those that are not included in your policy.

 

Do I Need It?

Yes. For every investment you will make, you always find a way to protect it. The same goes for your wedding, it’s an investment you make for the most special time of your life. Knowing you have wedding insurance that will cover for you means you can relax and free your mind from the stress that some unfortunate events might bring on that day. 

It could be a problem from your chosen vendors, storm or flood blocking the guests from coming, rendering the cancellation of the whole event or even a ruined wedding dress. These and other reasons that will result in money loss are quite stressful unless you’re covered by wedding insurance.

What are the advantages of wedding insurance?

It’s an advantage to consider buying wedding insurance even if you thought of it as not so important to your wedding. You’ll never know when unfortunate events will blow all that you have planned out from the very beginning in just one snap. A big relief if you surpassed mishaps without hassle even if you are not insured. 

 But what if it happened? How will you start again? Listed below are the advantages of purchasing wedding insurance

1. Wedding insurance provides reimbursement for deposits forfeited and other charges paid or contracted to be paid by the insured. Reimbursement includes the following in case these problems arise: 

  • Transporting Costs
  • Catering Services
  • Property And Equipment Rentals
  • Location Rentals
  • Accommodations ( including travel arrangements and accommodations for a honeymoon if applicable )
  • Special Equipment and Flowers
  • Event Photographs
  • Videos and/or Entertainment Expenses

2. Sudden cancellations happen when unforeseen events come off. Here are some of the examples of cancellation claims that are covered by wedding insurance: 

  • Heavy Fog Closed Roads   
  • Heavy Winds At The Venue
  • Flooding of Local Roads Prevent Access To The Venue
  • Church Center Destroyed By Fire
  • Military Deployment

3. If someone got sick or injured during your wedding, your wedding insurance can also cover the medical costs and the rescheduled date of your wedding.

4. Even the drunken guests that will cause damage to others once they leave are part of this coverage under the liquor liability insurance. 

5. They also reimburse even if the wedding is ongoing and a vendor didn’t proceed to come. A no- show vendor is a big problem. Your provider can pay for a rescheduled wedding day and reception if this happens.

What Are the Exclusions in Wedding Insurance?

Wedding insurance covers most of the unforeseen reasons that will taint your big day. However, there are some instances that they won’t cover for you. Here are the exclusions that are not included in wedding insurance.

 

  1. You may opt for extra coverage that will cover for loss of jewelry or a damaged wedding dress and also gemstones attached to your wedding dress because that is not covered by typical wedding insurance.
  2. Wedding jitters happen before the wedding that sometimes leads to the cancelation of weddings. Change of heart or having cold feet is not covered by wedding insurance. 
  3. Lost or stolen engagement rings are not covered. But rest assured your wedding rings are part of the coverage.
  4. Rainy days are not covered if you are going to cancel your special day with this type of weather. Only extreme weather is included
  5. Switching to your chosen vendor to another after you’ve paid for the deposit is not covered, particularly with the caterer or florist.
  6. Fireworks or other attractions for your upcoming wedding will most likely be the reason for you to be declined. Insurance companies might find it unsafe and may lead to a bigger claim. Instead, they will surely offer insurance that excludes these risks.

How Much Does It Cost?

The entire wedding plans and expenses are far more expensive than the wedding insurance. It may cost around an average of $75 to $200 to cover all that might be lost from you if an unexpected problem comes along. 

Think of it this way, you know that you are giving what you can to make this moment special for the both of you. MIght as well include wedding insurance in your budget to ensure that whatever happens, you know you gave it your best to secure your special day with your loved one. Being practical is good but being wise is better.

Tips to remember when purchasing wedding insurance

The journey to your wedding date includes thorough planning. To begin with, here are some tips that might be helpful when you purchase wedding insurance.

  • If you decide to purchase wedding insurance, inquire first from your vendor contracts. Sometimes they already have insurance policies that will cover your big day. No need to buy for overlapping insurance.
  • Call your homeowner’s insurance provider or renter’s insurance if your liability coverage can cover your wedding. Even your parents’ or those paying for the wedding, if their existing liability coverage can apply. Stolen gifts are also covered by your homeowner’s insurance.
  • Venues sometimes have readily available insurance for their clients once you avail of their services. Look and compare different venues because some require you to buy insurance on your own for your wedding. They might offer good deals from their providers. 
  • Make sure your coverage limits are equal to the amount of budget you have for your wedding if cancellations will happen, and that includes the honeymoon.
  • The cost of your insurance will depend on every single policy that you choose to be included in your coverage. Also, you have to depend on the scope of the wedding upon choosing each additional policy.
  • Sign up for insurance as soon as you start paying for different vendors for your wedding preparations. On the other hand, signing up for a cancellation coverage must be 15 days before your big day and 1 day before it is for the liability coverage.  
  • Not only you or your spouse-to-be are eligible to purchase wedding insurance. Even your parents or other relatives who contributed payments for your special day and also, your best friend as well can apply.
  • Your wedding liability coverage can be extended within 48 hours during your wedding. You might include rehearsal dinner or morning-after brunch, or event set-ups before and after your wedding that your vendors will be doing. 

Look for a reputable insurance company that will safeguard your wedding investment. Consider the length of service they’ve been doing this and their reliability history. You may ask if there is an option for choosing between liability and cancellation coverage or you have to purchase both.

Wouldn’t it be great to tie the knot without the mess and worries you might encounter along with the preparations and the wedding day itself and some days after that? Wouldn’t you be at ease to know that wedding insurance will back you up if mishaps occur? Of course, you will! 

The same with other insurance, you wouldn’t know its importance until a mishap already happened. Having the best caterers and set-up to capture your big day is not enough to prevent disasters from crashing your chosen location and what’s worse is if your wedding gown got stolen. Ensuring that your wedding gets the perfect day is one of the goals you need to meet to reach your dream wedding.