You’ve heard the horror stories – a couple’s venue closes just before their wedding, leaving them in quite an unpleasant situation, not to mention out of a big chunk of change. This is just one example of what could potentially go wrong, and why it’s smart to consider buying wedding insurance. Hope for the best but be prepared for the worst. Here are some examples of what wedding insurance typically covers, what it might cover and what it does not cover.
Wedding insurance generally will cover the following:
- Inclement weather: Hurricanes, tornados, snow storms… there are many ways in which mother nature can impact your wedding day. Your venue could end up flooded, lose power, or even worse. If you are getting married in a location where weather could play a factor, it might be a good idea to get wedding insurance, which would cover you not only for the cost of the venue but everything else from invitations to flowers.
- Closures and/or damage: Aside from weather, if there is any damage to your venue from any other incident such as a fire, or if the location goes out of business, wedding insurance would cover your losses.
- Unforeseen absence: If the bride or groom (or another important person such as a parent) is unable to make it to the wedding due to unexpected illness or death, and the wedding date needs to change or be cancelled, your insurance should cover any costs. This type of coverage may also apply if you or your fiancée has a sudden job change or is called for military service.
- Unreliable vendors: for the most part, you can count on vendors to deliver the service they promised, but in the rare case that one of them doesn’t show up to the wedding, you may be able to recover some of the cost.
- The rings: In case your wedding rings are lost on your wedding day, you can relax knowing that the insurance would likely cover this scenario.
Wedding insurance will probably cover the following:
- Liability: You are likely going to be covered if a guest is injured at your wedding but it is best to research exactly what period of time is covered, in case something were to happen after the wedding itself. Pay special attention to this coverage if you are having a wedding at a private residence.
- Gifts: You hope that this wouldn’t happen to you but what if someone walks off with your wedding gifts and cards? Your insurance may cover the gifts, although probably not the cash.
- Attire: If someone steals your dress after you have picked it up, or the store where you made your purchase goes out of business, the insurance may cover you.
Wedding insurance probably will not cover the following:
- If you get cold feet: Unfortunately if you or your fiancé decide to call off the wedding, insurance probably won’t be able to help.
- If guests don’t show up: If you end up with only a percentage of the guests you were expecting and your caterer had a different count, unfortunately you will not be covered for such a situation and you will still be paying for those guests that didn’t show up.
While wedding insurance would likely be a small percentage of your overall budget (ranging from $150 to $500), it may be worth the investment if it could potentially save you thousands should something go wrong. On the other hand, these extra expenses can quickly add up and you might not have enough in your budget to cover a policy. If that’s the case, talk to your venue and vendors to see what type of insurance they carry – you may learn that there is no need to get additional coverage. You and your fiancée can discuss the options and decide if wedding insurance is right for your situation.