Spring has officially sprung, which means we are in the middle of wedding season!
A lot goes into planning a wedding. There are deposits on venues, dresses and tuxedos to rent/buy, vendors to put on retainer, and all the other details that make your day so special. You want everything to be perfect.
With all of the planning that goes into the Big Day, it’s normal to look for ways to prevent disaster. After all, storms, damaged dresses, lost rings, and venues that go belly-up right before your wedding day are not unheard of in the industry. But how do you avoid one of these disasters derailing your day?
The answer is wedding insurance!
What is Wedding Insurance?
Simply put, wedding insurance covers the kinds of loss, damage, and cancellations that are out of your control as bride and groom.
Two of the most common types of wedding insurance are cancellation insurance and liability insurance. Cancellation insurance covers cancellation or postponement of the big day and wedding liability insurance covers you against damages that might happen to vendors’ property and equipment by you or your guests.
But this is far from an exclusive list. Here are a few examples:
- Let’s say the airline loses your dress. Wedding insurance would cover the cost of buying a new one after you land.
- What if the venue goes out of business or is damaged by fire? Insurance coverage would kick in so you can quickly put a deposit down on an alternate location.
- You’ve selected the perfect cake and the best playlist, but your baker and DJ are no-shows. Wedding insurance would help cover the cost of finding new ones last minute, so the day goes off without a hitch.
- If the bride, groom, or other guest considered essential to the wedding becomes sick or injured, wedding insurance would help out with the rescheduling costs.
- Last but not least, what is your plan if your wedding day happens to coincide with a major hurricane? Wedding coverage would cover the extra costs of planning the big day all over again.
Like all insurance plans, wedding insurance won’t cover every incident. Some things that aren’t typically covered are:
- “Cold feet” or a change of heart,
- Bad weather (other than the extreme kinds),
- Running out of money,
- Voluntarily switching vendors after paying a deposit,
- Watches or gems, and
- Engagement rings. (Wedding rings are usually covered.)
Host Liquor Liability
Wedding insurance can also provide incredibly important protection that hosts often don’t even think of: host liquor liability.
Many weddings have an open or cash bar, and it’s common for guests to leave after having a few drinks…or a few too many. If one of these guests has a car accident or other incident involving injury or property damage, they could turn around and sue you as the host of the event.
Nobody likes to think of their closest friends or family members suing them over personal decisions that they make, but it happens all the time. Going uninsured leaves your personal bank accounts and future earnings potentially exposed. But wedding insurance can provide legal defense and indemnity in cases such as this.
Additional Wedding Insurance Coverage
“Wedding” insurance doesn’t have to involve events that happen on the wedding date. You can still purchase additional coverage to make sure that all of your bases are covered.
Honeymoon coverage is helpful in the event that you or your spouse-to-be get sick before you leave. You can also get reimbursement if your photographer fails to provide you with photos. If you’re expecting a lot of fragile or expensive gifts, you can even get a “wedding present floater” on your renter’s or homeowner’s policy that will cover your wedding gifts for a limited amount of time (usually about 90 days) to protect them while you are transporting everything from the venue to your home.
If you are interested in coverage for something specific, your local independent insurance agent should be able to provide you with information. Chances are, if you can think of a potential risk, you can get insurance on it.
Do You Need Wedding Insurance?
The short and simple answer is yes. Unless you’re eloping or having a very small “bare bones” ceremony, having some kind of coverage to protect against disasters can help remove some of the stress around wedding planning.
Even if your vendors offer a level of coverage that seems to make additional insurance unnecessary, you have to consider the risks of trusting their business. What if they go bankrupt in the next few months? What if your DJ gets sick and you don’t have a backup? What if the bakers drop the cake on the way into the venue?
The truth is, you never know just when or how disaster is going to strike. Wedding insurance will help to take some of the sting out of it. And with a typical policy costing only $250-500, it’s totally worth it.
While the specific details can vary by insurance provider, wedding policies help ensure that if calamity does hit, you’ll have a safety net.
Whether you want to be protected against loss, damage, weather, unexpected cancellation, or liability for an amazing party, wedding insurance can be a lifesaver. You have enough to worry about in planning such a momentous event. Make sure that you’ve covered all the bases so that you (and your guests) can enjoy a fabulous evening.
Is your wedding just around the corner? Once you walk down the aisle and come back from your honeymoon, make sure to contact us to update your car insurance, home insurance, and life insurance policies. We’re here for our clients long-term!