Are you considering getting a policy for your wedding? It might be worthwhile and beneficial to you. For our wedding, I bought a policy….just in case something happened! The policy wasn’t very expensive but had us covered in case of any major incidentals so that we weren’t out-of-pocket the entire cost of the wedding.
What does a wedding policy cover?
- Lost deposits
- Wedding gifts
- Wedding photographs / video
- Liquor liability coverage
- Special jewelry
- Attire
- Cancellation or postponement
Here are a few scenarios of when a wedding policy comes in handy.
1) The mother of the bride has an accident on vacation and cannot make it to the wedding. Since she is an integral role in the wedding, the couple decides to postpone the wedding. With an insurance policy, most of their expenses can be paid back allowing them to reschedule.
2) If the wedding is to take place on the coast, and a horrible hurricane comes through and destroys the wedding venue, a wedding insurance policy can allow the couple to postpone the wedding and cover any costs they had previously paid (deposits, attire, rentals, etc).
3) The wedding venue goes out of business a month before your wedding date, and now you’re out of a deposit plus you have to find a new venue, on very short notice. A good policy will cover these costs.
In short, wedding insurance covers the couple’s wedding expenses from circumstances beyond their control.
How much is a wedding policy?
On average, a policy for your wedding can cost between $155 and $550, depending on the amount of coverage you want.
Where can I obtain a policy?
Call your agent who handles your auto and home (or renters) policies. It’s always smart to shop around and get a few quotes before settling on a decision. Start with your agent, and ask at least 2 others. Don’t just compare the cost – be sure to compare the coverage as well. You want to have enough covered (deposits, incidentals, custom made attire) for a variety of scenarios (death, injury, weather, fire, business closure, etc).
When should I get a policy written?
Once you have your vendors booked, a guest list solidified, and other details arranged is a good time to talk to an insurance agent about a policy.
Like I said, we had a policy for our wedding. It cost us about $200, and we ordered it through my parent’s insurance company, since my father was paying for the wedding. We did our research, and it was a smart move for us, even though we didn’t actually use it in the end. Better to be safe than sorry!
Resources: