Do You Need Wedding Insurance?

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Do You Need Wedding Insurance?

A Jar filled with coins that has a wedding label across it.

Have you ever thought about all the time and money involved in planning your wedding? According to one report, the average wedding with a honeymoon costs between $22,000 and $28,000 for each couple. That doesn’t count all the hours you’ve spent talking to vendors, trying on dresses and looking for the perfect decorations to show off your style and personality.

Types of Wedding Insurance

The two main types of wedding insurance are the following:

  • Event liability and property damage, which provides protection in case there are accidents arising from your wedding, such as a guest who gets injured or an alcohol-related accident
  • Event cancellation or postponement insurance, which covers nonrefundable expenses if the event is cancelled or postponed.

Some companies offer a discount when both types of insurance are purchased together.

Although many vendors require some kind of liability insurance as part of renting the facility, this insurance doesn’t protect your investment in the wedding should the worst happen. Maybe one of you gets food poisoning the night before the ceremony. Perhaps a flight gets canceled, causing you to not arrive in time to your destination wedding. It could be as simple as bad weather or an unexpected military deployment. Whether you just have to postpone the event or even cancel it, wedding insurance is a good idea to protect your money. You get back any non-recoverable deposits from hotels and suppliers as well as damages.

What Does Wedding Insurance Cover?

Each insurance company will have different policies and contracts. Generally, a wedding insurance package designed to protect you in case of cancellation covers certain things:

  • Damage to wedding gifts for up to 24 hours after receiving them.
  • Non-recoverable deposits paid to various vendors who fail to meet contractual obligations. For example, the limousine that is taking the bride and groom to the airport doesn’t show up. Insurance covers the costs of another vehicle.
  • Physical damage to the dress or rings, usually with limits of the damage happening within a certain time frame.
  • Reimbursement for pre-paid and non-recoverable costs of the honeymoon if the wedding is canceled or postponed.
  • Coverage to replace photographs or DVDs if these items need to be retaken. Also it can cover the cost to replace a photographer at the last minute if something happens.
  • Direct loss or damage to the wedding cake and flowers.
  • If you have expenses that arise out of trying to avoid a cancelation, for instance, you have to take a more expensive flight to get to your destination on time, your insurance would cover those charges. 

Is Wedding Insurance for You?

Many people think that wedding insurance is only for high-end weddings. Of course, if you’re spending $20,000 or more on an event that’s a year away, you should protect that investment. However, insurers base insurance premiums on the limits you need to protect your investment. Just make sure to talk to your insurance provider and fully understand the limits on your coverage. Think about the risks you have with your event. If you’re worried about someone who’s been drinking at your party going out on the road, look for a “host liquor liability” policy. Or don’t have alcohol.

Wedding insurance is available up to a year before the wedding, although it does need to be purchased at least 30 days before the event. It’s a good idea to get the insurance once you’ve made the first deposit to a vendor or event planner. It might be difficult to imagine that your big day could have a hiccup, but the reality is that no one knows what’s going to happen tomorrow. It’s just wise to protect your investment with the right insurance. You’ll sleep better knowing that you won’t lose your money that has been given to different vendors.

Do You Need Wedding Insurance?
A Jar filled with coins that has a wedding label across it.

Have you ever thought about all the time and money involved in planning your wedding? According to one report, the average wedding with a honeymoon costs between $22,000 and $28,000 for each couple. That doesn’t count all the hours you’ve spent talking to vendors, trying on dresses and looking for the perfect decorations to show off your style and personality.

Types of Wedding Insurance

The two main types of wedding insurance are the following:

  • Event liability and property damage, which provides protection in case there are accidents arising from your wedding, such as a guest who gets injured or an alcohol-related accident
  • Event cancellation or postponement insurance, which covers nonrefundable expenses if the event is cancelled or postponed.

Some companies offer a discount when both types of insurance are purchased together.

Although many vendors require some kind of liability insurance as part of renting the facility, this insurance doesn’t protect your investment in the wedding should the worst happen. Maybe one of you gets food poisoning the night before the ceremony. Perhaps a flight gets canceled, causing you to not arrive in time to your destination wedding. It could be as simple as bad weather or an unexpected military deployment. Whether you just have to postpone the event or even cancel it, wedding insurance is a good idea to protect your money. You get back any non-recoverable deposits from hotels and suppliers as well as damages.

What Does Wedding Insurance Cover?

Each insurance company will have different policies and contracts. Generally, a wedding insurance package designed to protect you in case of cancellation covers certain things:

  • Damage to wedding gifts for up to 24 hours after receiving them.
  • Non-recoverable deposits paid to various vendors who fail to meet contractual obligations. For example, the limousine that is taking the bride and groom to the airport doesn’t show up. Insurance covers the costs of another vehicle.
  • Physical damage to the dress or rings, usually with limits of the damage happening within a certain time frame.
  • Reimbursement for pre-paid and non-recoverable costs of the honeymoon if the wedding is canceled or postponed.
  • Coverage to replace photographs or DVDs if these items need to be retaken. Also it can cover the cost to replace a photographer at the last minute if something happens.
  • Direct loss or damage to the wedding cake and flowers.
  • If you have expenses that arise out of trying to avoid a cancelation, for instance, you have to take a more expensive flight to get to your destination on time, your insurance would cover those charges. 

Is Wedding Insurance for You?

Many people think that wedding insurance is only for high-end weddings. Of course, if you’re spending $20,000 or more on an event that’s a year away, you should protect that investment. However, insurers base insurance premiums on the limits you need to protect your investment. Just make sure to talk to your insurance provider and fully understand the limits on your coverage. Think about the risks you have with your event. If you’re worried about someone who’s been drinking at your party going out on the road, look for a “host liquor liability” policy. Or don’t have alcohol.

Wedding insurance is available up to a year before the wedding, although it does need to be purchased at least 30 days before the event. It’s a good idea to get the insurance once you’ve made the first deposit to a vendor or event planner. It might be difficult to imagine that your big day could have a hiccup, but the reality is that no one knows what’s going to happen tomorrow. It’s just wise to protect your investment with the right insurance. You’ll sleep better knowing that you won’t lose your money that has been given to different vendors.

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