Before really knowing what Wedding insurance is, it already sounds boorrring and something other than what you really want to focus on while planning all the exciting things for your wedding! I get it! So I wrote this blog to help you understand the 'what' and the 'why' of wedding insurance concisely and simply.
WHAT
Nobody wants to think of all the disasters that could happen on their wedding day, but by being prepared and having wedding insurance, you will be covered no matter what. Wedding insurance protects a couple's investment before and leading up to their wedding from circumstances beyond their control and will reimburse their obtained expenses.
Wedding insurance policies vary from country to country and in the US from state to state, so it is essential to ensure you are searching for the right policy.Wedding insurance costs vary due to numerous factors, so research the one that fits your wedding. Below is a list of what is usually covered by wedding insurance and what isn't.
Covered
Site (Unavoidable cancellation such as damage or inaccessible to the venue)
Weather
Vendor no-show
Sickness or injury
Military or job (Bride or Groom suddenly getting called to military duty)
Typically Not Covered
Cold feet
Watches, Jewellery, and semi-precious jewels
Engagement ring
The two different types of wedding insurance:
Wedding Liability Insurance
Wedding Liability Insurance covers items such as damage to the venue caused by a guest or a vendor, bodily injury to guests, or alcohol-related accidents. If your venue does not have insurance, this insurance is necessary, primarily if you serve alcohol at your wedding. You do not want to be held responsible for any accidents.
Wedding Cancellation Insurance
Wedding cancellation insurance will cover cancellation or postponement, lost deposits, Severe weather, injury or illness of a person integral to your wedding, and more. This policy protects your financial investments in your wedding. If you are forced to cancel your wedding due to circumstances beyond your control, this coverage could reimburse you up to the total cost of your wedding.
WHY
Simply put, PEACE OF MIND
A wedding is a significant investment, and purchasing wedding insurance helps protect the host and the hostess. You insure your car and house and have health insurance, so why not cover your wedding too?
So now you are ready to purchase wedding insurance, but hang on! Before committing to a wedding insurance policy, check with your vendors, as they may have their insurance coverage. You should avoid paying for overlapping coverage out of your pocket. Ask your vendors for a copy of their policy, work out where you are not fully covered, and fill in the gaps with your insurance! In general, asking for your vendor's COI (Certificate Of Insurance) is helpful to give to your venue, as they may need it for their records.
There we have it! A brief introduction to wedding insurance. I hope this helped you understand the insurance aspect a little more, and now you feel ready to discuss your needs with a professional :)
Please note that I am not a qualified insurance professional, and you should always consult with your professional advisors about your specific circumstances.
With Love,
Leor