Should You Buy Wedding Insurance?

Ok, you're going to spend a lot of money on your wedding. Have you thought of Wedding Insurance?

Today's average wedding costs are in the range of $27,000.00. Most couples don't plan for any unforeseen events to happen that may cost a lot of out of pocket money.

After selecting your vendors and submitting your (often non-refundable) deposits, you should consider an Event Cancellation Policy to protect your investment. This Policy can protect you against certain types of financial losses you may incur in the event of unpredictable situations during the days leading up to and including your wedding day.

Insurance companies now offer coverage for many different situations.

Here are some unexpected things that can happen that can ruin your wedding.
  • Severe Weather/Natural Disaster
  • No-show Vendors
  • Illness or Death in Family
  • Cancellation of Military Leave
  • Broken/Stolen Wedding Gifts
  • Lost/Ruined Wedding Dress/Tuxedo
  • Lost or Stolen Rings
  • Vendor Deposits (Out of Business)
  • Lost/Ruined Photographs or Video
  • Liability Insurance Required by the Venue
  • Extra Expense
  • Change of Heart
  • Counseling

NOTE: Lately there has been numerous reports on television and in the newspapers regarding couples having their wedding gifts and money being stolen from the reception hall. Insurance is a good way to protect yourself but remember to keep them away from a doorway and have someone take pictures of them regularly.

Envelopes are the easiest to steal so those should be put in a safe place as soon as possible.

Whatever your situation, there is a coverage level that is suitable for your needs.

Wedding insurance is not expensive, it is usually a couple hundred dollars and up depending on the coverage you choose.

This may seem to be a negative thing when you are planning your wedding, but having a wedding insurance policy can give you peace of mind. Unforeseen things do happen and it only makes sense to be prepared.

Before purchasing this or any other type of insurance, find out If the insurance company is licensed to do business in the state where you live or are having the wedding, (check with the State Department of Insurance), how much the policy will cost, what will they pay out if a loss occurs and what is and is not covered by the insurance.

One more note, determine if there is coverage through credit cards, warrantees or through home, auto or liability or other insurance policies you may have.

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