Surely some of you have never heard of wedding insurance. Although you may scoff at the idea of insuring your wedding, it has some serious perks. If you purchase a short-term wedding insurance plan, you may save yourself a lot of grief if something goes wrong. And let’s face it, something will undoubtedly go wrong.
Types of Wedding Insurance
There are two types of wedding insurance. 1- Wedding Cancellation Insurance and 2- Wedding Liability Insurance.
Wedding Cancellation Insurance covers your wedding if it has to be cancelled because of bad weather, the officiant doesn’t show up, etc. Your deposit, wedding attire, photographer, and more will be covered under this plan.
Wedding Liability Insurance covers your wedding in case of injury or property damage. This is the more common type of wedding insurance when venues ask for an insurance requirement.
When To Purchase The Insurance?
If you are interested in purchasing wedding insurance, you should do so as soon as you start shopping for dresses and venues. There are some companies that will not allow you to buy a policy until 24 months before the wedding. Others will allow you to purchase the insurance policy up to 15 days prior to the wedding date. Just like any other insurance policy, shop around until you find one that best fits your price and your needs. Similar to most insurance policies, you can even purchase a policy online.
Here are the most common items:
• Missing Officiant
• Missing Vendors
• Military Service
• Gowns and Tuxedos
Usually not covered:
• Cancellation due to cold feet
• Cancellation due to something you knew prior to taking out the policy
Wedding insurance is highly recommended to those having destination weddings. Although most people trust their travel’s insurance will cover the cost, you can’t completely rely on this especially when weddings are so costly. If you are unfamiliar with the country and the vendors, wedding insurance might help you breathe a little easier.
To Purchase or Not Purchase
Most couples will find it laughable to take out a wedding insurance. Often times, couples are under tight financial wedding budgets. They do not want to make the extra expense. Considering that weddings cost thousands of dollars, their money would otherwise not be recovered if something unthinkable happens. You might find that it is a great peace of mind to have a security blanket that you will not be out thousands of dollars should a tragedy occur.