Wedding Insurance… What is it? And Do you need it?
Wedding insurance protects a couple’s investment in their wedding from circumstances that are beyond their control and can result in reimbursement from expenses they’ve incurred. Say your limo doesn’t show and the morning of your wedding you have to book another limo and pay three times the price? Or what if your venue goes out of business a month before your wedding and you lose your deposit? These are a few scenarios in which insurance would cover you and help protect the finances you’ve invested into your wedding.
Picking an Insurance Plan
Before picking an insurance plan you should check with each of your vendors to see how well they’re covered, that way you don’t pay for overlapping coverage. You can even ask your vendors for a copy of their insurance so you can find out where you aren’t fully covered. It’s good to note that most venues require all vendors to have at least general liability insurance coverage.
Average Cost
So, how much does wedding insurance cost? Basic insurance can cost between $155 and $550 and general liability insurance that covers up to $1,000,000 for accidents costs around $200. When buying wedding insurance the sooner you purchase the better… do keep in mind that some insurance companies limit how far in advance you can purchase insurance, it’s best to purchase it when you officially start your wedding planning.
Wedding insurance typically covers your site, unforeseen weather, vendor no-show, sickness, injury, job, or military. Insurance for your site can cover the cost you could incur from unavoidable cancellation such as damage to the site or if the site becomes inaccessible.
What does wedding insurance cover?
Weather condition coverage will cover weather disasters that prevent the bride, groom, or anyone whose presence at the wedding is essential. What if someone that is essential to the wedding is a no-show… the officiant, caterer…disaster! Most insurance policies will cover the cancellation or postponement of a wedding for those reasons. Wedding insurance also can cover sickness or injury to the bride, groom, or anyone else whose presence is a must. Military duty is also covered as unforeseen circumstances can occur within the military where one may be called to military duty, in that instance your insurance will cover postponement of the wedding due to those circumstances. You can also take on supplementary insurance for other wedding-related items such as photography and gifts at additional costs. When it comes to insurance it’s best to find a policy that suits the bride and groom in an effective manner.
While we hope we never have to use our wedding insurance it is a great buffer for all of those unforeseen disasters. Remember to thoroughly talk through the policy you’re considering with your insurance agent to really understand every detail of the policy and that it’s the one the best suits the couple.
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