Is Wedding Insurance Worth It? ❤️

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Is Wedding Insurance Worth It?

For some couples, buying wedding insurance will give them the protection they need if an untoward incident occurs on their wedding day. These include postponement or cancellation of the wedding event brought by weather, illness, unplanned venue closings, no-show photographers, medical emergencies, and various losses like wedding gifts, attires, and deposits. There’s also coverage for other unforeseen expenses that are given by wedding insurance providers.

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In this video, I will talk about the importance of wedding insurance and how it can benefit you and your partner as a soon-to-be-married couple. Whether you decide to buy insurance or not, you should understand the coverage that you’re getting and how you can justify an insurance claim.

How much do you need to spend on it?

First, it depends on the cost of all deposits and purchases you have made for the wedding. These include the venue, the wedding attires, and rings, cake, caterers, postage, invitations, flowers, entertainment and others. Make sure that your wedding insurance can provide financial protection to regain any losses. When choosing a level of coverage, the amount should be equivalent to the amount you may likely lose if your wedding is forcibly rescheduled at the last minute.

On average, wedding insurance can cost around $100 to $200 and can reach up to $1000 for coverage on lavish ceremonies.

What is the usual coverage?

To get the full benefits of the coverage, make sure that you are working with a legitimate wedding insurance provider. Read the reviews of their past clients and do an extensive research. Typical policies that are under the $100 to $200 range usually cover lost gifts, attire, host liquor liability and any deposits.

Coverage such as cancellation or rearrangement of a wedding or reception is also considered when it is brought by illness, accident or bereavement within the people involved in the wedding party or when the supplier goes out of business.

Other coverage includes loss or damage to rings, cake, and flowers due to theft, fire, or accident. There is also the coverage price for videos and photos retake, legal expenses, personal liability and wedding car breach.

Most insurance providers allow coverage for expenses such as public liability cover and marquee cover.

They can also allow the coverage to extend for an overseas wedding.

What is not included in the coverage policy?

Just like any other insurance policies, there are exclusions that providers can use as a valid reason for not covering event cancellation or postponement.

#1. Change of heart by either the bride or groom when one decides not to go forward with the wedding.
#2. Inability to pay for some wedding expenses such as the venue and vendors. However, this may be considered if there is involuntary unemployment that caused the lack of funds.
#3. Bad weather is not enough reason for wedding cancellation. To be considered, it should be bad enough that the key parties and more than half of the confirmed guests are prevented to reach the event.
#4. Honeymoons.
#5. Engagement ring. What should you do before buying wedding insurance? Check first if your insurance policy has certain provisions for weddings. Find out if the policy will at least allow the coverage to extend for a wedding. If you have paid using a credit card, there are policies that can allow you to claim your money back when a breach of contract occurs. These include double-booking of a reception venue or undelivered wedding cake.

Deciding on getting wedding insurance really depends on your personal finances and the circumstances that surround the wedding. Be prepared to do a self-evaluation on your own capacity to pay for unforeseen events.

This will also help you decide on whether there’s a need to get insurance or not. Read and understand the fine print for exceptions. Ask a lot of questions and know your provider well.

Why do you need a wedding insurance? What would be the best way to find a good wedding insurance provider? Let us know in the comment box below.

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