Wedding Insurance

Wedding insurance is similar to regular insurance for your car or house and can protect you against unforeseen circumstances and bring peace of mind prior to your big day. If you find yourself without wedding insurance and an unforeseen circumstance occurs, you could lose thousands of dollars. Wedding insurance will cover unforeseen circumstances and unavoidable cancellations. If there is a weather event, such as a snow storm, that prevents guests or the bridal party from traveling to the venue, insurance will cover this. If a venue closes unexpectedly, insurance can cover that as well. If you have a vendor, such as caterer, fail to show up insurance covers that also. If the bride and groom or immediate family get sick suddenly, insurance may cover that also. If the bride or groom are in the military and have a sudden deployment, insurance can cover the postponement.

Keep in mind that there are some situations in which wedding insurance will not provide coverage including any damage or loss to jewelry outside of the wedding rings. No bride or groom wants to think about their significant other having a change of heart but it does happen. Most wedding insurance doesn’t typically cover the cancellation unless you choose Wedsure. They have additional change of heart coverage to provide reimbursement should this situation take place.

There are two types of wedding insurance. These are liability insurance and wedding cancellation insurance. Liability insurance protects you against financial liability as a result of an accident or injury that occurs at your wedding. This is especially important if the wedding venue doesn’t have its own insurance and alcohol will be provided to guests. Wedding cancellation insurance protects your financial investment in your wedding. This covers cancellation or postponement, lost deposits, etc.

Cost is probably the biggest determining factor on whether or not a couple will choose to have wedding insurance. A basic insurance policy that covers the loss of photos, videos, clothing, gifts, rings, deposits, can cost between $125 and $550. General liability insurance depends on the coverage amount but for coverage up to $1 million it costs around $185. Event cancellation coverage is based on the price of the wedding planned.

When considering coverage, you might also consider additional or special coverage that covers things such as insuring your dress, photographs, or other items against damage or theft. The small fees associated with wedding insurance will more than likely seem insignificant if a couple needs to file a wedding insurance claim.

If you or your significant other is in the military, law enforcement or fire department and you’re concerned about leave being switched and needing to postpone your wedding, you should check into USAA wedding and special event insurance. They have coverage especially for these circumstances.

There are several wedding insurance options. I’ve compiled a list of some of the top rated companies.

Travelers Wedding Insurance: Best Overall

Wedsure: Best for customized options & change of heart

Markel Specialty: Best for Keeping It Simple

Event Helper: Best for Local Friendly Service

USAA: Best for members of the military

Markel Specialty provides a list of FAQ in order to help you decide if wedding insurance is something that you’d like to purchase. Some of the questions asked might get you thinking about different scenarios that could occur on your big day that you might have not thought about such as, if weddings outside the U.S. are covered.

In order to find the best fit for each individual’s situation, have some information prepared ahead of time prior to researching coverage. You should know an estimated cost of what your wedding will be so you can ask for the correct amount of coverage. You also need to communicate which expenses you absolutely want coverage for and the smaller ones that you don’t need coverage for. It is also advisable to ask about a higher deductible in order to save money.

Be prepared to know the number of guests you’ll have, how many days of coverage, and what venue you’ll be using. These factors will affect the cost of the wedding insurance.

Shop around with several insurance companies so you can compare and contrast in order to find the one that suits your needs best. As your wedding draws closer, wedding insurance will help you remain calm and rest easy in the days leading up to your big day.