Wedding Insurance: Financial Protection Against the Unexpected
Just want to make you aware that the wedding insurance information in this hub is taken from Canadian information. It may be the same worldwide, but please check with your wedding insurance agent to be sure. Thanks.
Congrats! You're Engaged
It's so romantic. He's chosen a spot that's special to both of you. With eyes full of love and a soft or wavering voice, he proposes. You say, "YES!" *sigh!* It's true love, forever love. Nothing can go wrong, ever. All that's left to do is make your announcement to friends and family, and plan your big day. That day you've been dreaming of your whole life. The one you'll remember always. Sounds perfect, doesn't it?
Why You Might Consider Buying a Wedding Insurance Policy
Usually, everything does go perfectly for the wedding day. Oh, there's typically some (!) stress beforehand, and the occasional humorous story or two, but as a rule, the day is wonderful and goes off without a hitch of any consequence. Sometimes, however, things beyond your control may contribute to problems that end up costing you money.
- Someone falls ill
- The wedding clothes become damaged or ruined
- Job loss before the wedding that makes it difficult to pay
- The caterer or reception hall fails to come through
These are not common occurrences, as I said, but have been known to happen. Depending on how expensive your wedding day is, it may well be worth investing a little in insurance.
You're Getting Married!
Is Wedding Insurance Right for You?
Wedding Insurance - Cancellation
This type of wedding insurance covers a broad range of potential causes of cancellation and covers deposits and other monies paid out.
Coverage - Wedding or reception transportation, catering serves, accommodation, photographs, flowers and dress rental, booked but not used, as well as other non-refundable cancellation expenses.
Legitimate Reasons for Cancellation - Lots of Financial Protection
The situations below apply to the Bride or Bridegroom and any of their immediate family. Immediate family is defined to mean parents, children and siblings, as well as their step counterparts. It even includes aunts and uncles.
- Death, injury or illness
- Compulsory quarantine
- Witness summons
- Jury duty
- Involuntary and undesired loss of employment. The Insured must qualify for payments under the unemployment insurance act. You cannot intentionally lose your job.
- The Premises booked or arranged for the Wedding or Reception being unable to hold the ceremony or reception following damage by any cause. This also includes outbreak of infectious or contagious disease, murder or suicide occurring at the premises or closure by the local authority.
- Loss or damage beyond repair by any cause to the bridal attire occurring within five working days of the Wedding, every effort having been made to purchase or hire alternative bridal attire for the ceremony.
- The booked Wedding transport is a no-show. The Insured must make every effort to make alternative arrangements for transportation.
If the bride or groom has been called to an unforeseen military posting overseas, this is also an allowable cancellation and covered by the insurance company. This does only apply to the two people getting married, not their immediate families.
What is Not Covered - Naturally, there are situations that Wedding Insurance just will not cover.
- Cancellation or change of plans due to damage of outdoor tents and the like. They expect other, back up arrangements to kick in.
- A bridal accessory alone. You are covered if other bridal attire is damaged or lost at the same time.
- Cancellation due to being jilted at the altar.
- Cancellation due to death, injury, quarantine, illness or disablement IF the circumstances have been self-inflicted, one of you received a terminal diagnosis prior to buying the policy or if the circumstances are the result of insanity or high risk pursuits (sky-diving, hunting, etc. - ask your agent)
- Cancellation due to pregnancy unless the bride has at least two more months to go after wedding
There are a few more, but these will give you the idea. Again, please ask your Wedding Insurance agent for the specifics. Naturally, your insurance company expects you to take great care and precautions. Wedding Insurance is supposed to be financial protection against things going wrong, for the unexpected.
As part of the Wedding Insurance package, your wedding photos are covered, or at least the additional expense to have them retaken if the photographer didn't show up or lost the pictures.
Clothing for the bridal party (includes the rented attire for the groomsmen) is insured from the time they are in your possession until the wedding ceremony is over.
Gifts received by the bride and groom are covered for a period of 72 hours before and 72 hours immediately after the wedding ceremony against damage and loss.
Wedding Insurance Exclusions
If you've ever purchased insurance of any kind before, you know that there are always items or circumstances that are exluded from coverage. Some I've already pointed out.
It only stands to reason that mysterious disappearances of gifts and cash are not covered by the insurer. There may be other things that fall into the exclusion category and you should always ask as many questions as you need to in order to feel that you understand what they are. Often times, a good and careful read of the contract will tell you all you need to know.
Honeymoon Cancellation Insurance
As mentioned, things happen sometimes. If you've had the misfortune to have your wedding cancelled due to any of the criteria set out by the insurance company, you are probably eligible for Honeymoon Cancellation Insurance, as well.
Some insurance companies reimburse the pre-paid, non-refundable travel expenses. You must be able to provide the unused tickets and any documentation meant to prove the reason for cancellation that your insurance company asks for.
This is just my personal view on Wedding Insurance. I think that if you are going before a Justice of the Peace, or just having a private ceremony in your home, you probably don't need it. However, if you're spending the average $16,000 (or other large sum) as mentioned in the video, it seems like a very prudent idea to me. That way, if something does go wrong, you are going to be saving yourself a ton of money.