Wedding Insurance – Wise or Wasteful?

Wedding Liability, Cancellation and Postponement Insurance Review

Jul 15, 2009 Tricia Spencer

While all wedding couples dream of the perfect wedding experience, not all brides and grooms will enjoy a problem-free event. Things can go very wrong.

A wedding is one of the most magnificent moments in every person’s life. Weddings are beautiful, spiritual and memorable. They are also expensive and a life investment that needs protecting.

The Best Wedding Insurance

The most effective wedding insurance is careful planning. One mantra every bride and groom should adopt is “get it in writing.” Time after time a broken-hearted bride can be heard saying, “But they told me….” Telling is only the beginning. Committing the context of that conversation to paper is what counts. Every aspect of the wedding event should create a paper trail.

All conversations should be converted to notes that include the date, time of conversation, who was speaking, and the key elements of what was discussed. And before anything is confirmed or deposits paid, all of that information should be captured in a document signed by both parties.

Wedding Insurance Companies Offer Peace of Mind

Even if the wedding couple has diligently planned and meticulously detailed their wedding day event, circumstances beyond their control can cause wedding day chaos.

Several wedding insurance companies now provide policies to shelter the bride and groom from financial loss in the event of an adverse event.

What can go wrong? Just a few of the unpleasant possibilities include:

The wedding cake is dropped.
The rings are lost.
The store or seamstress loses the bridal gown.
The tuxedos are double rented.
The limousine has a flat tire or breaks down.
The flowers wilt in a broken cooler.
The caterers forget to order the champagne.
The photographer’s camera is destroyed with the wedding photos inside.
The wedding or reception venue goes out of business.
The wedding favors don’t arrive.
The musicians fail to show.
The wedding presents are stolen.
The honeymoon accommodations are lost.
Someone gets hurt at the event.
A family emergency requires wedding day cancellation or postponement.

With the two types of wedding insurance now offered by wedding insurance companies, losses from such adverse events are covered.

Wedding Liability Insurance

Today is far different than the wedding days of old when churches and reception halls were simply available with no special concerns about using them. Today, most wedding venues require the wedding couple to obtain a liability insurance policy that will protect not only the bride and groom, but the reception or ceremony site as well.

Liability insurance protects against damages to property or injuries to attendees. Alcohol hosting should be covered as well.

While some may eye this insurance as an extra, and unnecessary, wedding cost, the truth is that experiencing a liability claim is far more common than one may think. From damages to floors and equipment to parking-related incidents to personal injuries resulting from innocent actions like jostling for the tossed bouquet, liability issues are real. A liability policy soothes vital wedding day worries.

Wedding Cancellation and Postponement Insurance

There can be many valid reasons for a wedding to be cancelled or postponed, such as:

extreme weather or other disaster
unexpected military deployment
illness
a death in the family

In the event of a cancellation or postponement, the loss from non-refundable deposits can be staggering. Wedding cancellation or postponement insurance protects deposits and can even cover non-recoverable expenses equal to the total expense of the wedding.

Even if the wedding does take place, cancellation and postponement insurance could also cover losses occurred when issues, like a lost ring or a damaged gown, cause distress.

From flowers to tuxedos and catering to travel arrangements, wedding cancellation and postponement insurance can mitigate financial damages that result from failures on the part of wedding day vendors.

The one important issue not covered by wedding such insurance is an old-fashioned change of heart. No insurance company will cover a simple change of mind.

Combining Wedding Insurance Policies and Choosing an Insurer

Most insurers make combination offers that provide all types of coverage in one policy. Cost is based on the total wedding budget expense. A wedding that is expected to cost about $30,000 would require a policy that would cost about $500 to cover all insurance needs.

Policy comparison requires diligent research. Comparing apples to apples and oranges to oranges will highlight the best policy for a wedding couple’s budget and event requirements. Insurance coverage and costs will vary from state to state and be relative to what time of year the wedding will take place. It is imperative that specifics are given when requesting a wedding insurance quote.

Ordering a wedding insurance policy via the internet is quick and easy, but researching the insurer is necessary. Requiring references and licensing information will help to protect a wedding couple from throwing good money after bad. An impressive website does not equate to a viable company. Only thorough investigation will provide the true peace of mind wedding insurance is meant to bring.

Is Wedding Insurance Really Necessary and Cost Effective?

Liability insurance is necessary. Cancellation and postponement insurance may be unnecessary, but it is wise. Wedding insurance cost is minimal compared to the protections offered.

In the end, the decision belongs to the bride and groom, but wedding day financial stakes are high, and the losses from any number of adverse events can far outweigh the cost of wedding insurance. Building the cost of the policy into the wedding budget may be one of the smartest moves a couple can make to insure that perfect wedding of their dreams.