What You Should Know About Wedding Insurance

Although no potential bride or groom wants to think about something ruining their wedding day, emergencies and disasters can and do happen and are out of our control. Wedding insurance can give you peace of mind and protect you from the unexpected, but is it worth the added cost? Here are some facts for you and your betrothed to consider when deciding whether to obtain wedding insurance.

What is wedding insurance?
A wedding insurance policy protects a couple who is getting married against unforeseen circumstances and reimburses them for any expenses incurred.

Is wedding insurance expensive?
The cost for this type of event insurance can vary widely from company to company. The cost will also depend on what sort of coverage you get, and what is exactly covered under your particular policy.

Basic policies that cover loss of photos, attire, gifts, food, rings and deposits for vendors can generally range from around $150 - $550. Personal liability covering up to $1,000 for accidents or injury usually ends up being a little under $200.

What are the basics covered under wedding insurance?
As widely as costs vary for wedding insurance, coverage can as well, so be sure to do your research and choose a policy that best suits your individual needs. Some typical things covered are circumstances due to weather or with your ceremony or reception sites, as well as injury or illness and problems with vendors.

What are some scenarios where wedding insurance would be helpful?
If in the unfortunate event a member of the bridal party or a family member is injured prior to the big day, wedding insurance will allow you to postpone until everyone is able to attend and still recoup your losses.

Say, for instance, your reception site goes up in flames the week before your wedding and is completely destroyed. With wedding insurance, you'd be able to get your deposit back and book another location.

A winter wedding must be postponed due to an incredible ice storm that's paralyzed the airports and highways, making it impossible for the wedding party, let alone the guests, to arrive safely. With the right type of policy, the losses from postponing can be recouped minus the deductible.

If the bride or groom are a member of the military and get suddenly gets called to duty, wedding insurance would cover the cost of delaying the event. This could also apply to corporate moves such as the groom's company relocating him across country at a moment's notice.

What are the key points to consider when deciding on wedding insurance?

- Keep in mind that prices vary and so does the coverage. Make sure you completely understand what you're getting before you sign.

- Be sure that any vendors you use, such as the caterer or reception site, aren't already insured to avoid paying for overlapping coverage and thus wasting money.

- The sooner you make the decision to get wedding insurance the better. Some companies, however, have limitations as to how early you can purchase a policy while others encourage obtaining insurance about a year ahead of the event.

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