A wedding ceremony is usually the most expensive event you and your spouse could organize, as the budget would be over $20,000. However, getting wedding insurance can help you cover for wedding expenses if huge funds are at stake. This is because financial coverage against unforeseen events on your wedding day can be covered by wedding insurance.
Wedding insurance also referred to as event insurance offers coverage for mishaps or losses on your wedding day and a postponement of the event. Wedding liability and cancellation are the main coverage types that are accessible when you get wedding insurance. Therefore, you should understand what can and cannot be covered by this coverage before getting it.
Coverage Types for Wedding Insurance
As mentioned earlier, wedding insurance is a specific kind event coverage that offers financial coverage for mishaps, losses and postponement on your event. Additionally, there are two kinds of coverage for this policy, which includes;
Wedding liability insurance
This coverage type is available to help individuals in covering any injuries or property damage during the event. For instance, if a wedding guest destroys the venue’s window due to excessive enjoyment, liability insurance would pay for the cost of replacing or repairing of it.
Wedding cancellation or postponement
Wedding cancellation or postponement coverage covers for unforeseen events that force the ceremony or reception to be canceled or postponed. For instance, this coverage type is available if your wedding is canceled due to bad weather, illness, injury or a vendor closure.
What Does Wedding Insurance Cover
Generally, this insurance policy covers variety of incidents. However, cancellation or liability coverage covers the following conditions depending on the coverage that’s mentioned;
- Severe weather: Bad weather like a hurricane or snowstorm can prevent most individual from attending your wedding.
- Illness or injury: If the bride or groom is unable to attend due to an unforeseen like severe illness or injury.
- Gifts: Broken china is all over the place because someone knocks over the gift table or steals the non-cash presents.
- Wedding attire: The luggage containing shoes and accessories, as well as the pricey designer wedding dress, were shipped overseas and could not be returned in time for the wedding.
- Military duty: Earlier than expected, the bride or groom is called up for military duty. The wedding must be rescheduled or moved forward.
- Pictures: The photographer took pictures at the wedding and the celebration, but the memory card was damaged or lost.
What Does Wedding Insurance Not Cover
You should also know that it’s not every incident that can be covered by wedding insurance. The following are incidents that are excluded due to the policy terms and can vary depending on the provider.
Price
Wedding insurance does not cover cost-related cancellations or postponements. For example, you decide to cut back after realizing the ceremony and receptions have gone over budget. If that is the case, you will not be compensated for missed deposits or other costs by your wedding coverage.
Change of heart
Generally, your coverage won’t pay for the expenses along with cancelling the wedding totally if you or your partner decides against getting married.
Poor weather
Wedding insurance covers cancellations or postponements due to severe weather, excluding those where you, your partner, or at least half of your guests cannot reach the wedding location. The policy will not pay you back for more typical weather situations, like rain on the day of your beach wedding.
In addition, you should carefully evaluate the terms and exclusions before buying a policy to be sure you know what is and is not covered.
How Much Does Wedding Insurance Cost
You can get wedding liability coverage for less than $100, but larger cancellation policies can have premiums of more than $1,000. The guests attending, coverage types, the deductibles, and the policy limits will all affect the amount you spend. If you purchase liability and cancellation insurance combined, some providers will give you a discount.
Do I Need Wedding Insurance
The high cost of a wedding can be expensive, but it is essential to protect your day to ensure its last long. This insurance policy can cover the whole event, from the last dance to the rehearsal to the next day. When getting insurance, consider the available alternatives, coverage level, and the reasonable cost. Furthermore, it’s crucial to have an independent agent protecting you and your family because of this.
When to Get Wedding Insurance
Generally, insurers recommend taking out your insurance coverage as soon as you start making deposits. Some companies allow you to take out insurance up to two years before the big day. However, if you are already in the planning phase, it is not too late.
In many situations, liability insurance can be purchased up to the day of the event. You may need to purchase cancellation coverage at least 15 days before the wedding to protect against severe weather.
How to Get the Right Wedding Insurance
Review your current insurance plans, as well as those of any family members hosting or sponsoring the event, to ensure your wedding is covered. If a provider doesn’t show up, check the deductible to avoid losing your deposit. Select coverage limitations, including honeymoon coverage, that are within your wedding budget. When reading the policy terms and conditions, pay careful attention to the Exclusions section. Finally, check the return policy as certain policies do not provide refunds.