Or the officiant fails to appear…?
What if the wedding gifts are damaged or stolen…?
Or the photographer’s equipment malfunctions…?
“What-if” scenarios like these are enough to keep any bride awake at night!
You’ve worked with a great planner, and are using the best vendors in town; how else can you protect the emotional and financial investments you’ve made?
In addition to sound planning and contracting with professional, reputable vendors, wedding insurance may provide a little peace of mind for nervous bride- and grooms-to-be.
Wedding insurance is intended to protect against financial loss in case your wedding has to be canceled or postponed due to circumstances outside your control OR if an element of your big day is absent, lost, or damaged.
For example if a key person in the wedding, such as the bride, the groom, the parents of the bride, or the parents of the groom, becomes ill and cannot attend the ceremony, wedding insurance could be used to cover the cost of postponing the wedding until everyone is back on their feet. If your photos are damaged, wedding insurance can cover the cost of reuniting the wedding party to take photos at a later date.
Wedding insurance can also cover in cases of extreme weather, no-show vendors, unplanned unemployment, military deployment, acts of terrorism, loss of wedding videos, stolen wedding gifts, or damaged wedding attire.
The premium cost of wedding insurance depends on your total budget, certain other investments such as your dress, your photographer, and your total vendor deposits, and the coverage level you choose. Some wedding insurance policies will include a deductible, while others do not. Through Traveler’s Insurance, for example, wedding insurance premiums range from $160 to $1,025 depending on the cost to postpone or cancel the wedding.
Who should purchase wedding insurance? Wedding insurance makes the most sense for couples whose wedding day incorporates risk above their personal comfort level. The wedding insurance webpage presented by Traveler’s Insurance at www.protectmywedding.com lists the following as aspects or factors to that might increase risk:
-A total budget greater than $7,500
-More than $5,000 in deposits
-Out of town bride, groom, parents of the bride, or parents of the groom
-Destination wedding (all guests require travel, especially international)
-Disaster prone location (hurricane zone, tornado alley, etc)
-Guests will be bringing gifts
-Member of the bridal party military, police, or firefighter
In addition, your ceremony or reception venue could require the bride and groom to carry insurance to protect their property in case of damage or additional liquor liability coverage.
Remember, wedding insurance does not prevent something from happening to your wedding (or your dress, gifts, or photos); it only financially protects you from the cost of replacement or postponement. The decision of whether or not to purchase wedding insurance is based on personal risk tolerance, and is unique to every couple. Don’t hesitate to contact Details if you have more questions about wedding insurance, or if you need help planning for the what-ifs of your big day!
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