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Wedding Planning: Insurance

Updated on June 23, 2014
Upset Bride
Upset Bride | Source

"Common sense is the knack of seeing things as they are, and doing things as they ought to be done." ~ Josh Billings


Did you know that there was such as thing as "Wedding Insurance"? If you have never heard of it before, you are most likely asking yourself what exactly is "Wedding Insurance"? A wedding insurance policy essentially protects you against the unpredictable misfortunes that could occur during the wedding planning process, i.e. serious injury, illness, death, stolen gifts, damaged wedding gown, a vendor bailing on you etc.


There are many costs associated with planning a wedding. The average cost of a wedding today is approximately $28,000 and up. There are often several purchases that are made during the planning period and many deposits that are paid towards venues, vendors and so on. Having insurance protects a bride's and groom's investment(s) from situations that are beyond their control, by allowing them to recuperate lost deposits or any extra expenses incurred.


Wedding Insurance policies are not very expensive in most cases. Depending on which country you live in, the average, basic policy will run anywhere between $125 to $500. General liability insurance, will cost a little more, between $175 to $190 which covers up to $1,000,000 for accidents.


Before you decide on purchasing wedding insurance, find out from each prospective vendor i.e. Photographer, Videographer, Cake Designer, Florist and so on, if they carry adequate insurance coverage. Your venue and caterer most likely already carry their own insurance so you shouldn't spend money on extra coverage you don't need. Once you figure out what type of coverage your vendors and venue have, you can decide on where you could use more coverage and go from there.


If you plan on buying wedding insurance remember that some insurance companies have restrictions as to how early you can purchase a policy. However, it is best to get it as soon as possible to ensure that you get any deposits back.

Upset Bride
Upset Bride | Source
Wedding Insurance
Wedding Insurance | Source

Coverage

Wedding Insurance policies generally cover:


1) Injury or Illness-You will be covered if any key individuals get injured or become ill causing postponement of the wedding.


2) Vendors Bailing-You will be covered if any vendor such as your florist, entertainment, caterer etc., backs out or closes their business at the last minute or doesn't show up.


3) A "No Show" Officiant-You will be covered if an Officiant for whatever reason, does not show up.


4) Venues-Most ceremony and reception sites carry insurance, however, if they do not, a policy will cover issues like site damages or a venue closing its' doors amongst other things.


5) Inclement Weather-You will be covered if the event is canceled owing to inclement weather i.e. rain, ice storm etc.


**Remember that policies will vary so it is important to read the policy through to ensure that all of these things are covered.**

Wedding Insurance Stats
Wedding Insurance Stats | Source

Additional

Here are some additional coverage options:


1) Attire-You are covered if there is any damage to bridal gown or tuxedo. Also, there's coverage when a retail store goes under.


2) Gifts-You will be covered for any damage or theft of gifts. However, check your own home insurance because you may already be covered.


3) Honeymoon-Unfortunately, a Honeymoon vacation may have to be postponed owing to injury, illness, inclement weather or some other uncontrollable event. Wedding insurance will help to cover any necessary cancellation.


4) Liability Insurance-Once again check with your venue as they most likely have insurance. However, if they do not or you are having an affair such as a backyard wedding, you may want it to protect your guests.


5) Military Service-If you are a member of the military service, you may have to postpone your wedding if you are called to duty. In this case, a wedding insurance policy would be well worth it.

Damaged Wedding Gown
Damaged Wedding Gown | Source
Inclement Weather on Wedding Day
Inclement Weather on Wedding Day | Source

Not Covered

Below are things that may not be covered:

1) Change of Heart-You will not be covered for canceling a wedding because of "cold feet".


2) Pre-Existing Issues-You will not be covered if there are any pre-existing issues.


3) Accessories-Certain accessories such as jewelry, wrist watches, engagement ring etc. may not be insured.


**Look around and do your research because some providers such as "Wedsure" do cover issues not normally covered, (with certain restrictions)."

A Case Of Cold Feet
A Case Of Cold Feet | Source

Finally........

Purchasing a Wedding Insurance policy may not be for everyone. Some people prefer to take there chances as their parents and grandparents before them did. However, times are different today and planning a wedding is a very costly undertaking. It seems almost logical that you would want every element of your wedding protected. After all, we insure our houses, our cars etc., so when you are spending exorbitant amounts of money in some cases, I think Wedding Insurance might be something you may want to consider.

QUESTION:

Do you think purchasing a Wedding Insurance policy is important?

See results

Wedding Insurance

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    • rose-the planner profile image
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      rose-the planner 4 years ago from Toronto, Ontario-Canada

      Thank you so much for stopping by Jackie Lynnley, I really appreciate it! I know what you mean, I would hate being the insurers also, lol! Take care and have an awesome day! -Rose

    • Jackie Lynnley profile image

      Jackie Lynnley 4 years ago from The Beautiful South

      Wow, this is pretty neat! Now I have a bit of interesting news to share. Thank you! I would hate to be the insurers. lol

    • rose-the planner profile image
      Author

      rose-the planner 4 years ago from Toronto, Ontario-Canada

      Thank you thelyricwriter for stopping by. I really appreciate your kind words and support! Actually, it's so true, I can't understand why a couple spending thousands of dollars for their wedding day wouldn't want to protect their investments. Anything could happen, unfortunately. Take care and have a wonderful day! -Rose

    • thelyricwriter profile image

      Richard Ricky Hale 4 years ago from West Virginia

      Rose, voted up, useful, interesting, and shared on FB. I'm nearly 31 and I've never heard of it before. I saw the title, started thinking, "What is wedding insurance?" After reading this, I can understand why. Things happen when we least expect them and something could surely go wrong during a wedding. If it was a small wedding, I couldn't see the need for it, depending on how much it would cost of course. If the price wasn't bad, I would get it just to be safe. Now, if I was spending tens of thousands, I would certainly get it. Well informed article Rose:)

    • rose-the planner profile image
      Author

      rose-the planner 4 years ago from Toronto, Ontario-Canada

      Thank you for stopping by alocsin, I really appreciate it! Yes, Wedding Insurance is a very good idea. Take care!

      -Rose

    • alocsin profile image

      alocsin 4 years ago from Orange County, CA

      I think this is a great idea, especially given the cost of weddings. Voting this Up and Useful.

    • rose-the planner profile image
      Author

      rose-the planner 4 years ago from Toronto, Ontario-Canada

      Thank you so much for stopping by Tamarawilhite, I really appreciate it. Most wedding insurance policies cover wedding flowers, wedding cake, hired wedding transport, wedding rings, ceremonial and bridal attire

      wedding stationery, professional wedding photographs and video, venue and caterer deposits and damaged or stolen wedding gifts. Insurance coverages will vary. I can't speak for every company but I do know that if a couple is getting married abroad which is usually a combination wedding and honeymoon, some companies have provisions. However,when you book a honeymoon through a travel agency most couples are advised to purchase trip cancellation insurance so that they will get their money back in case a trip is cancelled owing to illness or death. Believe it or not, some companies even cover "cold feet", lol. Take care. -Rose

    • tamarawilhite profile image

      Tamara Wilhite 4 years ago from Fort Worth, Texas

      Would travel insurance cover the honeymoon?

    • rose-the planner profile image
      Author

      rose-the planner 4 years ago from Toronto, Ontario-Canada

      Hello Rajan, always a pleasure when you drop by. You're right, for a nominal amount it is worth it to protect yourself against potential problems. Take care! -Rose

    • rajan jolly profile image

      Rajan Singh Jolly 4 years ago from From Mumbai, presently in Jalandhar,INDIA.

      Rose, I had no idea a wedding could be insured. Since the insurance premium is not much it certainly should be on one's list of to do things for a wedding.

      Voted up and interesting.

    • rose-the planner profile image
      Author

      rose-the planner 4 years ago from Toronto, Ontario-Canada

      Thank you so much for stopping by Au fait. I really appreciate your kind words and support! I don't know why couples overlook this extremely important aspect of their wedding planning. I suppose quite a few people don't realize that such a thing as wedding insurance exists. If you think about it most weddings today cost at least $28,000 and up. With all the deposits that couples put down and all the other things that could potentially happen, it seems almost silly to not consider it. Take care! -Rose

    • Au fait profile image

      C E Clark 4 years ago from North Texas

      With weddings so expensive nowadays it makes sense to seriously consider insurance just in case things don't go as expected. That way whoever is funding the extravaganza can recoup as much of their loss as possible. Some of the things I have read about happening to people really is incredible. Bad enough that it sometimes mars their special day, but then to be out of so much money too!

      Voted up, useful, and will share with my followers. Also going to pin this to my 'Wedding' board.

    • rose-the planner profile image
      Author

      rose-the planner 4 years ago from Toronto, Ontario-Canada

      Thank you so much for dropping by justmesuzanne. I appreciate your kind words and vote up. I know many couples would rather not think about wedding insurance, but when you look at the cost of a wedding today, it is crazy not to. Unfortunately, things happen and it is a good idea to protect deposits amongst other things. Take care!

      -Rose

    • justmesuzanne profile image

      justmesuzanne 4 years ago from Texas

      What interesting information! With the cost of weddings these days, this is very good to know about. Voted up, interesting and useful! :)

    • rose-the planner profile image
      Author

      rose-the planner 4 years ago from Toronto, Ontario-Canada

      You're right, wedding insurance is not something that people take into consideration. In a way, it's crazy given the amount of money that some couples spend on their weddings. That is a pretty interesting story you mentioned. I bet tthe Venue probably includes a clause in their agreement that excludes them from incidents that involve loss or damage of the couple's personal peoperty. That's why I tell people to always, always, always read the fine print. Thank you for stopping by. I really appreciate it. Take care.

    • lindacee profile image

      lindacee 4 years ago from Arizona

      I have to say I've not heard of wedding insurance, but given the cost of weddings these days, I think it is a wise idea. Interesting that you mention theft of gifts -- there was a news story about a local event venue where the employees were accused of stealing wedding gifts (cash and actual presents). When interviewed, the owner of the venue said they would question the employees, but the venue itself was not responsible for lost or stolen property. Never heard a follow-up story about the incidents. A great case for wedding insurance! :)