While it may seem as though insuring your wedding is a preposterous idea, once you divulge into the costs leading up to your big day you might begin to think otherwise.
n between catering costs, reception hall rental, wedding bands and the perfect dress… future newlyweds are looking at an average budget of 15,000 $.
Why Should you Insure your Wedding?
A caterer who cancels on you, an emergency incident that can sabotage your reception hall, an airline that loses your dress, a sick parent… are all unpredictable events that can land you with extra costs, and worse case scenario a cancelled wedding.
An insured wedding can provide lovebirds with monetary compensation for all related and unpredictable costs in the event of a situation beyond their control.
What Does Wedding Insurance Cover?
The majority of insurers will propose to you the following guarantees:
- A refund of your deposit or other fees related to a supplier who cancels on you, or the cancellation of your wedding.
- Compensation from suppliers in the case of damages incurred to products or services offered to the married couple (ex. outdoor tents or other forms of shelter, tables, chairs, audio equipment, cameras…)
- Coverage for a loss or damages to wedding rings and outfits for the bride and groom
- Coverage in the case of:
- Extra costs in case photos need to be retaken or
- Refunded costs that were placed in advance for a video that was not produced
Please note that it is highly recommended that future newlyweds obtain general civil liability insurance, from each of their suppliers, regardless of whether or not the entire wedding is insured; this will save the couple from an event in which they are not responsible for.
Which Risks are Included?
Risks covered by wedding insurance vary depending on the insurance policy. The following events are generally covered though:
- Death, injury, sudden illness of one of the newlyweds or of a crucial wedding party member (parents, family, witnesses…)
- Natural disasters: bad weather conditions that prevent the wedding from going forward
- Complications regarding reserved venues
Of course, wedding insurance does not protect a sudden change of heart- simply your wallets!