Wedding Insurance

From LoveToKnow Weddings

How much will you be spending on your wedding? If you're like many, the final cost of your wedding may rival that of a down payment on a new house. What happens if the wedding doesn't go through as planned? What if it's called off or there's a fire in the catering hall? What happens to all of those non-refundable deposits? Fortunately, wedding insurance is available.

Is Wedding Insurance Necessary?

Is wedding insurance necessary? That depends. We've all heard stories about bridal shops suddenly closing down leaving brides-to-be stranded without their wedding dresses or caterers forgetting to show up for their scheduled events. We've even heard of wedding professionals absconding with deposits, or rolls of film getting ruined. Since most wedding deposits are non-refundable, especially at the very last minute, it's best to be prepared. Wedding insurance might not allow couples to recoup all of their losses, but it will enable them to get some of their money back.

What is Covered

It depends on your package and the insurance company, but in most cases non-refundable deposits, wedding gowns and tuxedos, photography and jewelry, including wedding rings. You might also be able to cover damage caused to rented property such as limousines, tuxedos, and catering halls. You're also covered if the wedding has to be cancelled due to a death or illness in the family or an act of God such as a hurricane or tornado. If wedding gifts are lost, damaged or stolen, they too are covered.

How Much Does it Cost?

How much does wedding insurance cost anyway? Of course that depends on your carrier but generally you can expect to pay between $100 and $500 depending on your coverage. Lower end packages will pay up to $5,000 and $7,000, packages on the higher end will generally pay out up to $50,000. Of course an extremely high end package can be negotiated with your insurance agent

Fine Print

Be sure to go over your policy with a fine toothed comb. Know exactly what everything means. If coverage includes cancellations and damage caused by inclement weather, you should be aware that this doesn't mean you'll receive a payout if it rains on your outdoor wedding. If your wedding is cancelled or postponed because a raging hurricane causes your town to evacuate, you have a case.

Clothes are covered if they're ruined before the day of the wedding, if you spill red wine on your wedding dress at the reception; you're not covered for the cost of stain removal. If injury or illness keeps you from showing up on the big day, you're covered. If you get food poisoning at the reception due to undercooked chicken, you're not covered, but you may be able to take up a case with the restaurant management.

Only you can decide if wedding expense is worth it. If you're having an inexpensive low-key affair, you may not see it as a necessary expense. If you're spending a small fortune to celebrate your nuptials, You should at least consider it. As much as we'd like our perfect days to remain perfect, weddings don't always go off without a hitch.