What Is Wedding Insurance and Why Do I Need It?

Taking into consideration that the cost of weddings is high and often must be prepaid in full or in part, wedding insurance is one of those things that should be considered by those planning a wedding. In the event that the wedding is cancelled, the parties often lose a large percentage of the cost; wedding insurance covers the losses due to a cancelled wedding.

It is important that you should always read the policy when purchasing any insurance so that you know what is covered and what isn't. Most wedding insurance will not cover cancellation due to one of the parties failing to contract the marriage or cancellation due to the failure of the parties to procure the proper legal documents of marriage. If the wedding is cancelled to financial losses on the part of one of the parties, the costs will not be covered. If one of the essential vendors, such as the marquee supplier or the caterer, goes out of business and takes your deposit, that is a covered cost.

Some policies also cover additional expenses incurred by obtaining another supplier. Damage to wedding attire, death or injury of one of the partners, financial loss due to redundancy, adverse weather that makes it difficult for the participants or guest to reach the location and failure of the minister or registrar to appear are all covered under most wedding insurance. Given the high cost of weddings, it is wise to purchase insurance to protect against losses.

Since the coverage varies between insurers, it is a good idea to review several policies before purchasing one. Although the policy can be purchased right up to the day before the wedding, it is always a good idea to purchase it early since it only covers losses that occur after it is in effect.

There are quite a few companies that offer wedding insurance. The cost of the insurance varies by company as well as what are the factors that are covered. While it may seem like an unnecessary expense, shopping around for the right insurance for your big day is well worth the time and money that you spend on it.