Wedding Insurance
by Vanessa
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The wedding day is the day that every couple in love looks forward to, yet these highly emotionally charged events are not without their financial risks. Wedding insurance offers a way of safeguarding the money you invest in the event, and protecting yourself from unforeseeable incidents. There are different types of wedding insurance policies available but all must be customized somewhat since no two weddings are the same.
Most everything related to the wedding can be protected for the right price. Just like any other type of insurance, you never want to have to use it, but you have to weigh the pros and cons to decide if the insurance is worth protecting a bride and groom’s most cherished day just the way you would when considering engagement ring insurance.
What Does Wedding Insurance Cover?
There are several reasons why a wedding insurance is a good idea, but to get the coverage you need be sure to compare wedding insurance policies before making your final decision. Just like all other things in life, things can and will go wrong – and the last thing you want is an unexpected event to disrupt your special day. There are policy options that cover different things. For example, if you have a garden wedding planned, it might be a good idea to adopt a policy that covers adverse weather. Bad weather and illness are very common things that are protected against in wedding insurance policies. Unemployment, military deployment, acts of terrorism, or other unforeseeable can also be protected against but are less common.
Other coverage areas that you can select include key people not being able to attend because of sickness, or injury. The cost of the postponement will be covered in wedding cancellation insurance if desired. Service providers such as the band or caterer are very important to the success of a wedding so they can also be covered as a part of the wedding insurance and the cost of postponement will be paid as well as the non-refundable deposits.
Things To Consider When Choosing A Wedding Insurance Policy
While the actual wedding is usually the most important thing to a couple, for financial reasons it often makes sense to also insure indirect expenses. Items and services not directly covered in the wedding include:
- Clothing: If clothing gets lost or damaged then the insurance will either pay for new clothing or alterations to fix it.
- Deposits: If a deposit is paid to a band or caterer and they go out of business or don’t show up the insurance will reimburse for that amount of money.
- Gifts: Protects against theft, damage, or loss of wedding gifts.
- Liability: Wedding liability insurance covers you in case of a guest’s injury or damage to rented property. Rented property is covered through wedding reception insurance which can be separate or a part of the overall wedding insurance policy.
- Picture and Video: Policies are available that will pay for a photographer for a re-shoot and the price that it will cost to get everyone involved together for that re-shoot.
- Diamond Ring Insurance: While ongoing diamond ring insurance is separate from wedding insurance, and will require a jewelry appraisal, it is something you should consider as this is a valuable and sentimental part of the union. There are several ways to insure a ring. You can insure it against loss or theft. Depending on the policy, the diamond ring may be insured in the form of a check or replacement. Jewelry insurance ensures the bride that she will always have coverage for her wedding ring which symbolizes the eternal nature of this special union. Ring insurance usually isn’t purchased as part of a wedding insurance policy, instead you will likely need to look for an independent wedding ring insurance policy.
The price of a wedding insurance policy is directly related to the type of coverage selected, but policies can be purchased for as little as $200. This is a very minor expense compared to the total cost of a wedding. Not only does it protect your financial investment, but also provides peace of mind should something go wrong. Considering all the planning that goes into a the special day, showing that you care enough about the wedding to insure it, may be the best gift of all.
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