Your wedding day is the busiest (and happiest) day of your life, and the last thing you want to think about is disaster striking. Still, if 2020 has taught us anything, it’s that we can’t predict what might happen and that’s where wedding event insurance comes in!
We know, we know – insurance is utterly boring and you’ve got more pressing things to think about, like your dress, the wedding favors, that flash dance you’re rehearsing with your bridesmaids. But trust us, getting your wedding insurance coverage sorted early on will protect you from those unforeseen consequences and give some much-needed peace of mind.
So what exactly is wedding insurance and how does it work? In this article, we look at the ins and outs of insurance and answer your most pressing questions about it. We promise, it’s worth your time to study up on wedding insurance so you can shop for coverage that suits your needs and budget. Let’s dive right in!
What is Wedding Insurance?
Much like other types of insurance (home, auto), wedding insurance is designed to protect you from circumstances that occur outside of your control and reimburses the expenses.
For example, what if your florist has a sudden emergency and has to cancel and the last minute?
Wedding insurance would cover the cost of replacing and paying for new flowers on the day of the wedding.
What Are The Types of Wedding Insurance?
Similar to how car insurance offers both liability and comprehensive options, you’ll typically come across two types of wedding insurance:
Liability insurance is used to protect you from responsibility in case there are any accidents or injuries during your special event. Hey, you know it could happen, especially if your best man pulls out his crazy dance moves!
Liability insurance also covers any alcohol-related accidents. Depending on where you host your wedding, this type of insurance may be a requirement and some jurisdictions require it for liquor permits. You can also opt-in to cover the rehearsal dinner if you wish.
Cancellation/postponement insurance is designed to reimburse you for the money you have to outlay if the wedding needs to be canceled or postponed. However, almost all policies do not cover a change of heart (exceptions may apply when a third party is paying for the wedding).
What Does Wedding Insurance Cover?
Look, chances are good that nothing is going to go wrong on your wedding day, but there’s still a chance. For example, there could be nasty weather, vendor no-shows, sickness, or injury.
Wedding insurance can cover a multitude of issues that may impact your wedding day. Make sure you learn all of the payment and coverage details before you purchase your insurance.
Here are some of the most common types of coverage offered:
Stormy weather: A snowstorm, hurricane, flooding – any number of weather-related issues could prevent you or any crucial party member from being present at the wedding. Lucky for you, insurance will cover the whole kit and caboodle related to rescheduling the wedding, including flowers, food, and rentals.
Sickness or Injury: Wedding insurance can cover illness or injury that may occur to you or essential wedding staff, such as your wedding planner or officiant.
Wedding location: Check with your reception venue to learn if it is already insured. If it is not, insurance can cover costs that come from unavoidable cancellations.
Job interference: If you or your future spouse are members of the military, you could be sent away at any time. Wedding insurance may cover postponement related to unavoidable job obligations. In some cases, military deployment is not always covered, so make sure you read the policy entirely before signing on the dotted line.
Vendor doesn’t show: Sometimes, vendors just fail to show up. It sucks (like, really sucks), but it can and does happen for myriad reasons that may or may not be in their control. Wedding insurance typically covers cancellation or postponement under these circumstances.
In addition to these types of coverage, you can also purchase other types of insurance that can cover much more than just the basics:
Extra Expense Insurance: If something more minor were to happen at your wedding, such as the power going out, you could use extra expense insurance to reimburse you for the cost of the emergency generator your dad ran out to buy in the midst of your wedding. It can also be used to pay for things such as space heaters and candles in such a situation.
Photo and Video Insurance: For many couples, photography and videography end up being one of the bigger wedding expenses. Insurance can help soften the blow under the following circumstances:
- The photographer/videographer did not show up
- The photographer/videographer loses the images or videos for some reason
- The photographer/videographer forgets film, memory cards, or fails to remove the lens.
Gift Insurance: This type of insurance will pay to replace or repair wedding gifts if they are damaged or lost. Some policies will also cover theft if you meet specific requirements. These generally have a time limitation and a location limitation, so go over those details thoroughly with your wedding insurance provider. There is also usually a limitation on cash, checks, and gift cards.
Insurance for Wedding Attire: This can include clothing, alterations and fittings, shoes, and headwear. It doesn;t usually cover watches, jewelry, or stones. If you spill red wine on your wedding dress (or, let’s be honest, someone else spills it on you!) or rip your tux dancing too hard, this insurance option can cover that for you.
Special Jewelry: This is where you would protect stolen or broken watches, jewelry, rings, or other items that are purchased or rented specifically for the wedding. This does not cover engagement rings (we touch on ring insurance further down, so keep reading!). Many policies will not cover lost items. Talk to your provider as there is also a limit on time for these claims.
Loss of Deposits: This insurance will cover your deposits in a few situations:
- A no-show vendor
- The vendor goes out of business and cannot give you a refund
- The vendor does not provide the promised service and does not produce a refund
Counseling Insurance: In some cases, a doctor may recommend you attend counseling after your wedding is canceled or postponed. After all, it can be an emotionally difficult blow. Insurance will cover the cost of the therapy. Many policies cover up to one year of treatment (or to the dollar limit of the policy).
Rented Property Insurance: If you rented things for your wedding such as tables and chairs or a tent, rented property insurance covers the costs if the property is damaged or needs to be replaced.
What Isn’t Covered by Wedding Insurance?
Wedding insurance policies can cover a whole gambit of potential issues, but some things just cannot be claimed under insurance:
- You will not be covered if one of you gets cold feet and decides not to go through with the wedding.
- Watches, jewelry, or semiprecious gemstones or pearls may not be covered,
- Engagement rings are usually not covered, but you can purchase insurance for your ring bling separately.
Will Wedding Insurance Cover COVID-19 or Pandemic-Related Issues?
The answer to this question depends on the type of insurance, and the date it was purchased. If you bought the general liability insurance, you would not be covered from postponements or cancellations due to COVID-19.
The likelihood is higher that cancellation insurance will cover this kind of situation as cancellation insurance covers you in the event that you or an essential member gets sick. If you bought your insurance before the COVID-19 pandemic, you might be covered.
It is essential to note the date at which your insurance was purchased. If you bought insurance after COVID became known and insurance providers began adding exceptions to their policies for pandemic-related coverage, you’re out of luck.
Why Buy Insurance for your Wedding?
The most important reason to buy wedding insurance is to have some peace of mind on your big day. It also guarantees that you will be reimbursed for what you have already paid in the event that something happens. There are many caveats to this, but having the ability to know that unforeseen events are covered will be one less thing to worry about as you get ready to tie the knot.
How Much Does Wedding Insurance Cost?
As you may have guessed, the cost of wedding insurance depends on a whole lot of factors such as what the coverage offers and where you’re getting married. Here are our best estimates based on our research:
- A basic wedding insurance policy that covers loss of photos, attire, rings, videos, gifts, and deposits usually costs in the range of $155 to $550. This depends on the amount of coverage you want.
- Liability insurance, which will cover up to $1,000,000 for accidents, will cost about $185.
When Should I Buy Wedding Insurance?
Now that you’re convinced of the merits of buying wedding insurance, it’s a question of when to make the purchase. We’d recommend you don’t delay too long, but at the same time make sure you shop around for coverage that suits your needs and budget. Some policies do have a limit on how early you can purchase them. You may find certain policies are available two years before the wedding, and some are not available until days before.
Do note there’s a chance that your policy will cover payments you made before you bought the policy. Make sure you have the correct documentation and receipts to prove that you did not know that there would be problems with, for example, a no-show vendor when you purchased the policy.
Determine What Type of Wedding Insurance You Need
As mentioned earlier, there are two types of wedding insurance that people generally purchase: liability and cancellation/postponement. You can buy one of them or both of them depending on what you feel fits your needs and budget best, but remember a small outlay of cash now may save you big time in the long run.
Importantly, some insurance companies will provide a discount when you buy both, so be sure to ask!
If you’ve spent a substantial amount on your wedding attire, photography, videography, or jewelry, you may want to take extra precautions to cover these items. The same goes for gifts and other valuable items. Coverage for these types of losses may be included in the cancellation policy, but often they need a separate insurance payment.
Comparison of Top Insurance Providers
Reviews.com recently put together an article outlining the best wedding insurance providers. They noted that there are three top insurance companies:
Let’s take a look at how they stack up to each other.
Liability Insurance Coverage
Both Markel and Wedsure offer three coverage levels that go up to $2,000,000,while WedSafe offers six levels that go up to $5,000,000. All three companies require that you put down $1000 for property damage coverage.
With Markel, you can buy liability coverage up to one day before the wedding. With WedSure, you have until up to twelve hours before the first event. WedSafe can be purchased up to the day of the first event.
The rehearsal dinner, ceremony, and reception are covered by all three companies under one policy. Prices can vary quite a bit, but all three companies begin their price quotes between $125 and $150 depending on coverage.
Postponement/Cancellation Insurance Coverage
Markel and WedSafe both offer ten coverage levels that range from $7,500 to $175,000, while WedSure offers coverage at any amount you choose. The deductible is $25 (WedSure can have a higher depending on your choice) with all three options.
You can purchase coverage with Markel up to 14 days before the wedding, WedSure up to 12 hours before the wedding, and WedSafe up to 15 days before the wedding.
Prices from each company vary based on coverage level. Head to their respective websites for more information and coverage costs specific to your wedding needs.
Important Questions to Ask Before Buying Wedding Insurance
For the vast majority of couples, wedding insurance makes sense, but before you purchase a policy, it’s crucial to understand exactly what it covers. You will need to go over that in great detail with your provider.
It is also vital to determine how much coverage you will need. This depends on how many people are coming and how much you are spending on your big day. Have those numbers handy when you connect with prospective buyers.
Other important questions to ask yourself and/or your insurance provider:
- What are the deductibles on my policy?
- What do you want to be covered?
- Are rings covered?
- What happens if I don’t have insurance?
Steps to Take if You Have to Use Your Wedding Insurance
If something happens at your wedding or on the day of your wedding and you need to make a claim, there are a few things you’ll need to do. You and your agent should have gone over the specific steps that would need to be taken in this situation, but the general idea is this:
- Call the claims department at your insurance company as soon as possible
- Go over the issue with them to make sure you will be covered
- Make sure you have all necessary receipts and documents needed to make the claim
What is the Difference Between Wedding Insurance and Wedding Ring Insurance?
Wedding insurance is used in the event that something happens on your wedding day, and you need to be reimbursed. However, most policies do not cover the wedding rings. That requires a different policy altogether.
Wedding ring insurance applies specifically to your rings’ coverage and has a whole other set of policies and requirements that go along with it.
If you have homeowner’s insurance, you can purchase an extension of it that covers your rings in the event that they are stolen or severely damaged.
Should I Buy Wedding Ring Insurance?
At the end of the day, yes, you should buy insurance for your wedding ring. There are two good reasons for this.
- Wedding rings are usually expensive. Even if your ring is considered moderately-priced, it is still a significant investment to be made. It is likely that your ring is worth more than a lot of your other jewelry. You should always cover high-value items in one way or another.
- You wear your ring every day. Wedding rings are worn every day to symbolize your marriage, and that can mean that things may happen to them. They are at a higher risk for wear and tear or accidents simply because of the exposure they face.
Should I Consider Anything Else When Buying Wedding Insurance?
You have already considered the possibility of bodily injury, sickness, loss, theft, and a global pandemic when looking for wedding insurance. Is there anything else that you should be thinking about?
Make sure that you have closely looked at your wedding budget to ensure that you have not gone over the limit with the costs of insurance. You should also consider shopping around awhile before making a decision because policy prices can vary drastically.
Your wedding day is one of the biggest and most important days of your life. Don’t let the stress get to you and make sure you have one less thing to worry about by purchasing wedding insurance.
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