Even if you don’t want to think about it, disasters can happen on your wedding day. From a sudden cancellation to a damaged dress, wedding insurance can help protect you against the unexpected and give you great peace of mind. But if you’re not sure what wedding insurance is, what it covers, or if you should get it, we’re here to guide you. Here’s everything you need to know about wedding event insurance and why it’s worth adding ‘get wedding insurance’ to your wedding planning checklist.
what is wedding insurance?
“Wedding insurance is a type of special event insurance. So, in essence, it provides coverage before and before an event like a wedding,” Todd Shasha, Senior Managing Director, Personal Insurance Product Management in travelers insurance, he explains. Weddings are a major investment, which is why wedding insurance is beneficial no matter how much your wedding costs. Marriage insurance protects a couple’s investment from circumstances beyond their control and reimburses expenses incurred.
what does marriage insurance cover?
Wedding event insurance can help address issues with the site (wedding venue), weather, vendors, key people, and illness or injury before, during, and after the wedding day. There is usually a specific maximum amount, which can be claimed in each section, and a deductible also applies. Steve Lauro, aon vice president and wedsafe program manager, wants couples to know that insurance policy coverage depends on the company. “All types of insurance vary, not only from company to company, but also from state to state. Insurance in the United States is governed by each state’s insurance department.” Laura encourages couples to “find a reputable company that specializes in the type of coverage you’re looking for, for example, a program dedicated specifically to wedding insurance. Be sure to ask what products and benefits are right for you.”
Here is a brief description of each item that wedding insurance companies typically offer coverage for:
site: Wedding insurance may cover the cost arising from an unavoidable cancellation, such as damage or inaccessibility to the ceremony site. for example, if your reception room is unable to honor your reservation because it burned in a fire, experienced a power outage, or went out of business. sometimes this policy also covers the site of the rehearsal dinner.
weather: any weather condition that prevents the bride and groom, direct family members, members of the courtship or most of the guests from reaching the venue where the wedding is to be held. Insurance covers rescheduling the wedding and all the details involved, including ceremony flowers, tent rental (if it unexpectedly starts raining at your event), and reception food. Please note that in most states, an extreme weather policy must be purchased at least 14 days before the event.
no-show vendors: what happens if essential people at the wedding, like the vendor or officiant, for example, don’t show up? a wedding insurance policy usually covers the cancellation or postponement of the wedding for these reasons.
Illness or Injury: Marriage insurance may cover illness or injury to the couple or members of the immediate family (parents, siblings, grandparents, and children). this does not include pre-existing medical conditions. Because COVID-19 is considered a known infectious disease, some insurance companies do not cover COVID-related cancellation or postponement. talk to your insurance agent for more information.
Military or Labor: Military personnel may be deployed at any time. wedding insurance may cover postponement of the wedding due to the bride or groom being suddenly called up for military service. This can also apply to a last-minute corporate move, such as being suddenly relocated to another city by the bride’s company. Please note that military deployment is not always covered, so be sure to read the policy carefully.
what wedding insurance (typically) does not cover
a change of heart. in other words, cold feet don’t count. (Kerri McDonald, CPCU and COO of Wedsure, says Wedsure offers exchange of heart coverage, but it must be purchased about 15 months in advance.)
Watches, jewelry, or semi-precious gemstones or pearls (even if affixed to clothing) may not be covered.
While the policy may cover your wedding rings, your engagement ring probably won’t be covered by the same coverage. You can purchase engagement ring insurance separately or see if it’s covered by your existing homeowner’s or renter’s insurance. Please note that these items may be subject to your policy deductible.
Is wedding insurance worth it?
mcdonald advises you to take out insurance for a wedding, as it protects the host or hostess of the event. “[Wedding insurance] offers peace of mind. It covers your car, your house, and you have health insurance, so your wedding should be covered as well,” McDonald says.
Before you buy wedding insurance, check with each of your providers to see how well they’re covered. Your reception or catering site may already have its own insurance, so you don’t want to pay for overlapping coverage out of pocket. ask your providers for a copy of your policy, and then find out where you’re not fully covered. Another reason you should get a copy of your provider’s insurance is that you may need your provider’s COI (certificate of insurance) for your wedding venue records.
situations where wedding insurance is useful:
jordan and blake spent months planning their winter wedding. but on the day of the wedding, their reception venue is rendered inaccessible by an ice storm. With the right wedding insurance policy, the couple can postpone their wedding and get back every penny they lost, including money for invitations, cake, catering, attire, and non-refundable deposits for ceremony musicians, a floral designer and other suppliers.
The father of the bride is injured in a car accident just before the wedding and is unable to travel. With wedding insurance, if the couple has to postpone their wedding, they could recover their expenses so they can hold the wedding when the father recovers.
Just before the ceremony, Brittany’s dress gets a gust of wind. Unfortunately, the tulle dances on Uncle Howard’s cigar and the dress instantly catches fire. Fortunately, the proper insurance policy covers the replacement of the veil and gown.
An unprecedented global pandemic creates undue economic hardship, limits all air travel, and results in laws prohibiting large gatherings. Wedding insurance can protect the costs paid for your ceremony from similar extraordinary circumstances beyond your control.
the two types of wedding insurance
Insurance can be a tricky business, and wedding event insurance is no exception. Just like your car insurance has comprehensive and liability options, wedding insurance typically comes in two forms: liability and cancellation. Here’s the scoop on these two types of coverage.
civil liability insurance for weddings
what does wedding liability insurance do? “Liability insurance protects you against financial liability arising from your wedding; required by many venues. This could protect you if a guest was injured, the venue was damaged, or there is an alcohol-related incident,” explains Lauro. If a venue doesn’t have its own insurance, liability insurance is a must because you don’t want to be liable for any accidents, especially if you’re drinking alcohol at your wedding. rehearsal dinners are not always covered, but can sometimes be added to the policy.
wedding cancellation insurance
what does wedding cancellation insurance do? “Wedding event cancellation and postponement protects your financial investment in your wedding; it covers cancellation or postponement, loss of deposits, and more. If circumstances beyond your control force wedding cancellation, this coverage could reimburse you to the total cost of your wedding. The reasons can be virtually anything from severe weather to a venue closure to an injury or illness of a person integral to your wedding,” says Lauro. cancellation coverage could also be extended to providers who do not show up.
how much does wedding insurance cost?
A basic insurance policy that covers loss of photos, videos, outfits, gifts, rings, and deposits typically costs between $125 and $550, depending on the amount of coverage you want. general liability insurance depends on the selected liability limit, which typically covers up to $1 million for accidents and costs around $185. “event cancellation coverage is based on the price of the wedding the couple wants to protect. couples should choose a level of coverage based on their total wedding budget. this is the worst-case investment they would lose Laura says. .
In general, wedding event insurance costs vary due to many factors, so shop around for the best one for your wedding. And remember, buying wedding insurance isn’t just for the soon-to-be married. “The mother of the bride or the father of the groom can also buy policies. Anyone who might have a financial interest in the wedding can buy a policy,” Shasha says.
when should i get wedding insurance?
If you ask any insurance company what is the best time to purchase wedding insurance, they will tell you the sooner the better. “my recommendation is to make sure you have coverage as soon as you start outlining deposits. many customers can buy a policy up to two years in advance. that way, as your deposits grow, you can start writing checks and have coverage,” explains shasha. McDonald’s also believes it’s vital to get wedding insurance as soon as possible because the wedding industry traditionally only uses non-refundable contracts. McDonald recommends securing those non-refundable deposits as soon as you and your partner start planning. For example, let’s say you pay your wedding photographer a year before the wedding and a month before the wedding you retire. if you buy a policy after the fact, you won’t have coverage. That is why it is important that you have a valid insurance policy.
please note: the knot and the materials and information contained therein are not intended to constitute legal, financial, tax or medical advice and should not be used as such. you should always consult with your professional advisors about your specific circumstances.