April showers bring May flowers, and May flowers bring June brides. A wedding is one of the costliest events of your life, except if you decide to elope, something I wish I had done. The money I could have saved…
It’s around this time of year that we get phone calls about wedding insurance. It’s amazing what could possibly go wrong on your big day. Some expenses may be non-refundable if your wedding is canceled or postponed due to an unforeseen event.
When you book the hall, hire the caterer, band or DJ, limousine, and photographer, you may find in the fine print that you may be held to a minimum fee if you have to cancel the event.
What makes up a Good Wedding Insurance Policy?
A good Wedding Insurance Policy can provide you with coverage for the following:
Special Attire – You can get repair or replacement cost if the honoree’s wedding gown or tuxedo is lost or damaged.
Lost Deposits – A proper Wedding Insurance Policy can reimburse your deposit if a vendor goes out of business, declares bankruptcy before your wedding, or simply fails to show up.
Lost Rings – You can receive repair or replacement cost if the wedding bands are lost or damaged. However, you really should have this covered under a Renters or Homeowners Insurance Policy. I wrote about this in a previous blog post.
Severe Weather – For those in coastal areas where you book your event during hurricane season this is a BIG thing to consider. If severe weather, like a hurricane, forces you to postpone your wedding, a good Wedding Insurance Policy will provide reimbursement for non-recoverable expenses
Transportation Shutdown – If you have to postpone the wedding because of a commercial transportation shutdown preventing the honorees or their immediate family from getting there, you can receive reimbursement for non-recoverable expenses
Ruined Photos – If your photographer’s film or data storage is defective, or negatives are lost or damaged, an insurance policy can cover the cost to re-take new photos
Call to Duty – I’m not talking about the video game. If I had eloped I could have bought multiple copies of that game. Okay I digress. If the honoree is unexpectedly called up to active duty or has her or his military service leave revoked, forcing you to postpone the event, an insurance policy can provide reimbursement for non-recoverable expenses
Damaged Gifts – You can get repair or replacement cost if your wedding gifts are damaged at the wedding event.
Sudden Illness – If the wedding needs to be postponed because sudden illness prevents the honorees or their immediate family from attending, you can receive reimbursement for non-recoverable expenses.
Venue Requires Insurance – Some venues will ask that you provide liability coverage during the time the event is at the venue. As an additional option to your policy, you can add liability coverage to protect yourself in case a guest is injured or causes damage to property. You know how Uncle Bill likes to drink, be the “life of the party”, and break that really expensive painting at the Country Club.
Liquor Liability – speaking of Uncle Bill. If you purchase liability coverage you can extend coverage to protect yourself against liability arising from alcohol-related occurrences.
Additional Expenses – If a vendor suddenly become unavailable for your event but you can find a last-minute replacement, a good wedding insurance policy will reimburse you for the cost.
Keep these important pieces of insurance protection in mind when you talk to an insurance professional about wedding insurance.
The cost of Wedding Insurance
The cost of a Wedding Insurance Policy can be as low as $160 and not have a deductible. When you think that the average cost of a wedding today is around $28,000, the amount of premium you pay for a policy to protect you during that event is a wise choice.
At the end of this post you know we have to give you a sales pitch. We sell Wedding Insurance. We can give you the peace of mind you need to have for your big day. Click on the button below. Stop reading this blog post. Click on the button below. Hey, how come you are still reading this?
Photo attribution: (Unc Blanca) via Flickr- Public Domain