- Wedding Ideas & Advice for the Couple, Wedding Party and Guests
Should You Say “I Do” to Wedding Insurance?: FAQ's for Playing It Safe
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Mom always said, “It’s better to be safe than sorry.” Does this little life lesson also apply to your big day?
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The decision to purchase insurance is a no-brainer when it comes to your home, your car… even your engagement ring. But insuring your wedding day? It may seem more paranoid than practical, but it’s a hot discussion topic and in some cases, a priority among today’s engaged couples.
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Illness. Bad weather. Injury. Fire. Even with a trunk-sized wedding day emergency kit, some circumstances can’t be predicted or controlled. We’ve all heard the horror stories: the catering hall that went bankrupt, the gown that got lost, the film that was destroyed. As bleak as it may sound, there are no guarantees in life - even on the happiest of occasions. And although you’d rather focus on your heart than your pocketbook, your financial future could be at stake.
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What is wedding insurance?
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Like any insurance policy, wedding insurance protects you from financial loss while offering peace of mind. The purchase of wedding insurance assures you coverage should the event be cancelled, postponed or just plain affected by unforeseen circumstances.
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Where is it available?
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Popularized in England, wedding insurance is now available in all 50 states.
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How much does it cost?
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Policy costs start at around $150. Average policies cost between $200 and $400.
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What may be covered?
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Individual policies vary, but may include any or all of the following:
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Cancellation/Postponement due to:
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Illness, injury or death of the bride, groom, officiant, or members of the bridal party.
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Severe weather conditions or unforeseen circumstances that prevent the bride, groom, officiant, bridal party or the majority of guests from attending.
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Sudden job loss
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Terrorism
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Damage/Loss of:
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Deposits (should a vendor go bankrupt or out of business)
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Wedding attire (bridal gown, tuxedos, bridesmaids’ dresses)
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Wedding gifts
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Wedding rings
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Photographs* (*Some policies will pay to re-stage the wedding to replace pictures.)
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Inadequate Service, Accidents or Failure on the part of any supplier, including:
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Venue
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Transporter
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Caterer
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Florist
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Band/DJ
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Liability against damage to property and injury to guests.
Repair/Replacement of any rented property, such as a tent.
Emotional Distress
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If the event is cancelled, professional counseling may be covered by wedding insurance.
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What is NOT covered?
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Although severe weather conditions, such as a hurricane or flood may be covered, regular rainstorms don’t count. There’s also no price on the human heart - wedding insurance won’t pay if the engaged couple gets cold feet.
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Is anything covered WITHOUT wedding insurance?
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Check any existing insurance policies you might have. A homeowner’s or renter’s policy, for example, may cover damage or theft of wedding presents or rings. You can also speak with vendors about their coverage and whether it applies to you.
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Should I have wedding insurance?
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Only you know the answer to that question. The decision to have wedding insurance is a personal one, and some people are more at risk than others. A couple planning a wedding on the coast during hurricane season may have reason for concern. The same goes for a groom (or bride…) serving in the military. But no matter what your circumstances, it’s entirely up to you.
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