Wedding day is no ordinary day. It is undoubtedly one of the most memorable days of your life. A lot goes into preparing for this day; the guest list, the venue, the decorations, and don’t forget the dresses. And God forbid, if even a single thing goes wrong on this day, it tarnishes the memory. Plus, it mostly takes a toll on your pocket also. Thus, comes the wedding insurance to your rescue.
Let’s say your father gets sick two days before the event, and you have to postpone the whole wedding. Now, the venue booking charges will go waste. Furthermore, you will have to book the venue again. All this commotion will take a toll on your pocket as well as mental peace. But if you have wedding insurance in place, your venue charges will not go waste, and you can peacefully attend to your father’s health condition. A great deal, isn’t it?
So, in this article, we will discuss the wedding insurance basics. And by the end, we promise, you will have a fair idea about all of it. So, let’s dive in!
It’s two types:
First, let’s understand, it’s two types:
#1: Wedding Cancellation Insurance
There is a long list of reasons why you might cancel or postpone your wedding. Like harsh weather, venue getting closed, etc. You will not have to suffer if you have cancellation insurance, as the insurance people will pay all your expenses.
#2: Wedding Liability Insurance
Secondly, let’s assume somebody trips during your wedding, and the hospital bill comes around a few thousand dollars. They might sue you! In such cases, liability insurance saves the day.
Some venue owners insist you purchase liability insurance, and some already have it on their own. You can extend this insurance to cover liquor-related accidents too.
What all can wedding insurance cover?
It is the solution to most of your problems. Like a vendor does not deliver, somebody trips and gets injured on the venue, etc. There can be numerous events where you may need to postpone your wedding or spend some extra bucks to keep the show going on. Here are a few heads that wedding insurance covers:
#1: Vendor does not turn up
About 30% of the claims are related to vendor problems. The vendor might not show up due to a range of issues. He goes bankrupt, or lost a permit, or could not complete the order due to some personal problem, etc. But you do not need to worry in such cases as wedding insurance covers you at every step.
#2: Extremely Harsh Weather
A thing to understand here is that you will not be covered for a rainstorm. But if it is something that is extreme enough and stops an important guest or majority of guests from reaching the venue, you are covered.
Such situations demand to postpone or cancel the wedding. And the insurance people will cover you for anything and everything, whether it be the food, decorations, venue, whatever at all.
#3: The venue
The venue is the next head that the insurance covers. Imagine the site is out of electricity or if it closed down due to any reason. Again you will need to cancel or postpone the event but worry not; the insurance will pay.
Also, it’s good to check the policy of the site owner. It may already be covering the cancellations. Thus, it is always good to ask for the policy papers. This way, you can save a few bucks.
Lastly, the policy might cover the rehearsal dinner site too. But that is optional.
#4: Sickness or Injury
What if the groom or bride or any essential guest gets injured in a car crash? Then also, the wedding insurance covers the expenses.
#5: Job or Military
Whether military or corporate, a job can cause either bride or the groom to leave the city at the last moment. He or she can be called for military duty or receive a transfer to a new city. In both the scenarios, the insurance covers the expenses related to the postponement of the wedding.
Some wedding insurance policies also cover acts of God. So, read your policy documents carefully.
While considering the above points, wedding insurance covers pretty much everything. But still, some things are out of the scope of insurance.
What doesn’t a wedding insurance cover?
#1: Cold feet don’t count
If you feel like changing your mind at the last moment, you will not be covered.
#2: Engagement rings
This insurance covers your wedding rings but not the engagement ones. Those can be covered by separate insurance or even by your homeowners or renter’s policy.
#3: Watches, Jewellery, etc.
Your policy does not cover precious or semi-precious stones, pearls, jewelry, watches, and the types. Note that even if they are attached to your dress, they will not be covered.
Except for these, you have a safety net to ward off from almost all last moment issues.
Alternatives to wedding insurance
Although wedding insurance doesn’t cost you a fortune, merely $150 to $550 will be enough. But still, there are ways to lower down your premium as a lot of heads are covered by other insurance policies you might already be having.
- Stolen gifts might be already covered by your renter’s or homeowners policy.
- If your wedding venue is your home, your homeowners’ insurance might cover you for the liability coverage. You may still need a rider or an umbrella, but that comes cheap.
- Lastly, if your wedding venue is a restaurant or hotel in this business for quite a while, they might already have a liability policy. Thus ask for their policy and consult with your agent to ensure there are no gaps.
Concluding, we would like to say that wedding insurance ensures that nothing at all tarnishes your most memorable day. And that it feels just like out of a fairy tale.
The two types of wedding insurance take care of every aspect of the wedding and you do not waste even a single buck in re-booking venues or any other issue.
So, this was all about wedding insurance basics. We hope you liked the article and that it was informative. And now its your turn. If you have any questions, please drop them down below. We will be glad to answer them!