Planning a wedding is a big undertaking. For some couples, the stress of organizing the event is made even worse by their fear that something might go wrong. To be prepared in case a problem does arise, some couples are opting to purchase wedding insurance.
There are two types of wedding insurance. The first type is cancellation insurance, and the second kind is liability insurance. If you decide to get wedding insurance, be sure to read the fine print carefully to determine which type you are getting. Some families will get only one or the other, but many people who are concerned enough to get wedding insurance will choose to get both types of coverage.
So how do you know if wedding insurance is something that you really need? The two deciding factors are going to be your investment in the wedding and your peace of mind. This is where the cancellation insurance comes in. There are many scenarios that are unlikely to occur, but would be covered by wedding insurance if they did.
Probably the biggest worry for most couples is weather. This is especially true if you are planning an outdoor wedding or a destination wedding. If you are planning a beach wedding in the Caribbean during hurricane season, for instance, that might be an excellent reason to purchase wedding insurance. That way, if your wedding has to be postponed, you will not lose your money. Another reason why a wedding might be postponed is if the bride or groom suddenly falls ill, although this is probably less of a concern than a weather issue.
Other things typically covered by wedding insurance include things like a venue closing its doors, or a bridal salon going out of business and taking brides' deposits. The sad truth is that when a business such as a bridal salon, photographer, or wedding venue does unexpectedly close, they are probably not going to be returning your deposits, even if you have a contract (and who wants to go to small claims court with someone who has already declared bankruptcy?) This is where the wedding insurance would not only provide peace of mind, but also the funds to get another bridal gown or photographer.
Another event covered by some forms of wedding insurance is lost or stolen gifts. Let's say that you are traveling to a destination wedding, and your luggage containing the jewelry gifts you had selected for your bridesmaids gets lost in transit. If you have insurance, they will reimburse you for the cost of your bridesmaid jewelry gifts. This type of policy will also cover situations such as having your wedding gifts stolen from the trunk of your car.
The other main form of wedding insurance is liability insurance. This covers you for things like damage to the venue caused by one of your guests. Let's say that your clumsy uncle Dave has one too many glasses of Champagne and knocks over an antique vase worth $1000. This is the type of event that liability insurance would cover. It also is useful for things like slip and fall injuries or alcohol related situations. Liability insurance can be purchased either through a company specializing in wedding insurance or through the same firm that does you home or auto insurance. The cancellation insurance, though, usually must be obtained through an event insurance specialist.
Most weddings go off without a hitch. Wedding insurance can bring peace of mind to couples who are very concerned about the "what ifs" that are part of planning a wedding. For those brides and grooms, the comfort of having the insurance may be well worth the price.
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