Much like car insurance, medical insurance, and homeowners insurance, you purchase wedding insurance in hopes that you will never need to use it. But, what exactly is wedding insurance? What does it cover? And why do you need it?
Wedding Liability Insurance
Wedding liability insurance is one of two types of insurance most engaged couples and their families look to purchase. Liability insurance covers you in the event of injury or property damage. In most cases, it covers your wedding ceremony and reception, as well as your rehearsal and rehearsal dinner.
While a growing number of wedding venues require liability insurance from wedding pros, it's always a good idea for couples to consider it as well. The world has become a little lawsuit-happy, and while you're probably sure your family and friends won't sue you over something that happened on (what's supposed to be) one of the happiest days of your life, you never know about their plus one.
Many unique wedding venues such as parks, historic mansions, and private estates require hosts to show proof of liability insurance. This is often in addition to the requirements they have of the wedding pros they hire. Check with your insurer, as some venues require you to list them as additionally insured.
Cocktails and Costs
Typically, one of the first questions an insurer will ask you—after the wedding date, location, and number of guests—will be, are you serving liquor? Liquor service is one of the primary reasons for liability insurance. Intoxicated people are more prone to damaging property and hurting themselves or someone else. Many venues require that a licensed and insured bartending service handle all of the beverage services. You also want to consider the chance that an intoxicated wedding guest leaves your event and drives, potentially causing an accident. This can put you and your wedding under a microscope. Do not underestimate the importance of liability insurance, including liquor liability, regardless of the potential cost.
Wedding Cancellation Insurance
"We're in love. There's no way we'd cancel our wedding!" We have absolutely no doubt this is the case. However, what about a hurricane or blizzard? What about sudden severe illness or the death of an immediate family member? What if one of you are deployed or your job suddenly transfers you across the country? Cancellation insurance will also cover postponement if you need to change the date due to one of these disasters.
Cancellation insurance also covers random occurrences like a wedding pro going bankrupt or a wedding venue closing. Most will also cover vendor no-shows on the day of the wedding.
Some cancellation policies offer the option to have other areas of wedding planning covered. If by some fluke your photographer's equipment fails, you might be covered for a re-shoot of your wedding portraits. If something happens to your wedding video, you might be covered to have a video montage created using wedding photos or clips, and sound bites from the recovered video. Lost or stolen wedding gifts, damage to your wedding gown, or even the groom's tuxedo may be covered under supplemental policies, too.
Sorry, Not Covered
There are a few things wedding cancellation insurance doesn't cover. Cold feet is definitely one of them. Wedding insurance does not often cover things like watches or jewelry as well. So, you'll want to to be sure your wedding rings are included.
What's This Going To Cost?
The cost of wedding insurance will vary depending on the total amount you are insuring. Larger wedding budgets, more guests, and an open bar are all things that can increase the price of your policy. Several companies marketing to the wedding industry specialize in wedding and event coverage. Many offer a simple online quote to weigh one cost against the other. The cost of wedding insurance balanced against the investment of time and money, possible lawsuits, and replacement costs of goods and services makes it an incredible investment. Not to mention the peace of mind.
Hero Photo Courtesy of Codrean Photography