You’re getting married! Buying a wedding dress, choosing the location, and picking the flowers are just some of the fun things you get to do in preparation for your big day.
However, one thing you may not have thought about is what to do if extreme weather strikes, your parent falls ill, or your reception center closes (taking your deposit with it). It may not be as glamorous as buying a 6-tiered, rosette-covered cake, but purchasing wedding insurance may just save your pocketbook should something go wrong before or during your big day.
Here is an overview of what wedding insurance covers (and doesn’t cover), how much it typically costs, and some alternative coverage options for you.
What Is Covered
While it’s impossible to predict any and every possible issue that may arise on or before your big day, here is a list of some items that may be covered, depending on the policy you purchase.
Severe Weather Conditions
If an unfavorable forecast prevents the bride, groom, an essential relative, or the majority of guests to be present at your wedding, insurance may cover the costs associated with rescheduling. This may include items such as rentals, food, and flowers.
Serious Injury, Illness, or Death
If the bride, groom, or an essential relative is seriously injured, sick, or passes away close to the date of the wedding, insurance may cover the costs associated with postponing the wedding.
Military Deployment or Job Relocation
If the bride or groom is suddenly called up to active military duty or has a last-minute job relocation, insurance can cover postponement of the wedding.
If the bride or groom experiences a last-minute change of heart, insurance may cover professional counseling for severe emotional stress of the jilted person.
Officiant or Vendor No-Show
If the officiant, caterer, or photographer fails to show up to your wedding, insurance usually covers some of the costs associated with postponing the event.
Location Closes or Vendor Goes Out of Business
If your reception center closes down or your florist goes out of business, insurance may recoup your deposit.
Repair or Replacement of Formal Attire
If the bridal gown or other formal attire is lost, stolen, or damaged while it is in your possession, insurance may cover the costs to repair or replace it.
Photographs and Video
If the wedding photos or video are deleted or damaged by the photographer or videographer, insurance may cover the costs to restage the event (with varying limits) so that they can be retaken.
If the wedding rings are lost before, during, or immediately following the wedding, insurance may cover the cost of their replacement.
If wedding gifts (or cards containing money) are lost, stolen, or damaged within a limited time period before or after the wedding, insurance may cover them.
Personal Liability and Medical
If bodily injury or property damage occurs from a mishap or accident (of which you can be held legally liable for) during the wedding events, insurance will cover the costs. This includes the wedding party and also guests.
What Is Not Covered
There are a few things that are generally not covered by a wedding insurance policy.
If the bride or groom cancels the wedding due to a change of heart, insurance does not cover the deposits or any other costs associated with the event.
Jewelry, Watches, and Accessories
If the engagement ring, jewelry, watch, accessories, or gemstones attached to the wedding gown are lost or stolen, insurance does not cover them.
What It Costs
For a basic policy with general personal liability, wedding insurance costs range from $125 to $400. Supplemental coverage will incur additional costs.
Alternative Coverage Options
As an alternative to specialized insurance just for weddings, there are a variety of other insurance policies that may cover part or all of the big event. For some of these options, you may already have coverage. For others, you may just need to temporarily raise the coverage limits.
Oftentimes, your site or vendors may carry their own insurance which means you don’t necessarily need to purchase additional coverage (although, it never hurts).
Credit Card Coverage
When it comes to damaged or stolen gifts or other goods, cardholders might be reimbursed for their cost via the credit card company.
If the wedding is taking place at a home, consider purchasing or increasing the policy coverage.
Don’t forget to insure your honeymoon! Travel insurance may include trip cancellation/interruption/delay, lost/delayed baggage, and medical coverage/evacuation.
Regardless of which type of insurance policy you want to purchase, be sure to find out how far in advance you need to get it and when it expires.
To find out if wedding insurance is right for you or for more information on alternative insurance coverage options, contact Insurance Center Associates today!