Most people carry some form of insurance such as auto, medical, life, etc. Since the average cost of the more than 2 million weddings in the U.S. is over $20,000, wedding insurance can cover billions of dollars caused by damages. With so much money spent on weddings knowledgeable couples incorporate wedding insurance into their overall wedding planning strategy. Wedding insurance offers protection against something going wrong, the wedding being cancelled or postponed.
Wedding insurance allows for flexibility in coverage. Just to mention a few, policies may cover for cancellation, unforeseen expenses, wedding gown, video and photographs, jewelry, venue property, gifts, liability, medical expenses. Depending on the coverage wedding insurance can cost as little as a couple of hundred dollars.
Some of the most common items covered by wedding insurance are:
Jewelry: This coverage is designed to replace or repair damaged wedding rings.
Liability: If someone falls on the dance floor, it can cover some of the medical expenses. Some wedding reception venues may require such insurance in the contract. This policy can also help if someone of the wedding party damages equipment or furniture. Without this coverage you and your new spouse may find yourselves in court with one of your wedding guests.
Weather: Unfortunately, natural disasters have been part of our lives, and for the most part unavoidable in the future. This type of coverage is very much influenced by your geographical area.
Video and Photography: This coverage will help you to reunite the wedding party in an event when your photographer is a no show, or the photographs are defective or damaged, the negatives are lost, etc.
Service Providers: This coverage will help minimize the damage caused by vendors who fail to provide a contracted product or service, it can cover such as non-refundable deposits, and expenses occurred due to finding new vendors.
Although you can't insure against a gloomy day, you can certainly insure against disasters such as hurricanes or fires. Wedding insurance can cover just about everything except for a change of heart. Disasters and mishaps will have their toll on your overall wedding experience, but you can minimize the long-term effects by obtaining wedding insurance.
