All About Wedding Insurance
wedding liability insurance
Wedding insurance is exactly what it sounds like an insurance policy that covers your wedding and financially protects you against misfortune and mishap. Wedding insurance is specifically designed to protect you from financial loss in the event that your wedding must be cancelled or postponed due to circumstances.
Coverage typically includes wedding cancellation or postponement if a member of the bridal party dies, falls ill unexpectedly, is injured or can’t come to the wedding because of armed forces service or the shutdown of commercial transportation. It also will help pay for the getting the bridal party back together for new pictures if the photographer loses the film or it’s damaged at the lab; If the photographer or caterer doesn’t show up, you get your money back. New wedding rings if they’re lost, and replacement of damaged, stolen or lost wedding gifts. With all the variables inherent in a large wedding, insurance is almost a must. Wedding insurance is a guarantee against the investments made to pull together a special event.
This would include refunds of deposits and payments made to vendors who don’t show. Whether you are having a large, formal wedding or an intimate celebration it is a good idea to make sure that you have insurance so you are prepared no matter what surprises come along on your big day.
Wedding insurance is usually paid for in a one-off premium. There are two kinds of policies, which both cover weddings or civil ceremonies. The first type covers for the unexpected – or any incidents which could ruin the event at the last minute, such as the caterers going out of business. This type of insurance provides cover for replacements before the big day. The second type covers for any damage or loss, such as the expensive designer bridal gown being ripped. Many kinds of unexpected events can be covered in wedding insurance policies. There are even plans which pay out for stress counseling for brides, groom and their families. However, a basic policy will usually include cover for the loss, theft or damage of items such as clothes, rings or wedding presents.
Wedding insurance is relatively inexpensive, ranging from $125 to about $600 depending on just how much coverage is needed. In fact, many brides and grooms don’t get any insurance to guard against problems on the big day.
Couples planning a small, inexpensive wedding don’t necessarily benefit from insurance, while other couples have high risk tolerance and are willing to take whatever comes without insurance. For many couples, however, insurance is a valuable part of the wedding planning process that enables them to invest money well in advance of the wedding without worrying about vendors going out of business, photographer no-shows, weather crises that might prevent the reception from happening, or sudden military deployment forcing a change of the wedding date. Wedding insurance plans vary widely.
Wedding insurance is crucial especially if your cost of rescheduling the wedding will be very high. Many couples overlook wedding insurance when planning a wedding because they don’t believe they will need it. After all, there is nothing romantic or exciting about wedding insurance and what could possibly go wrong.
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