While you plan for your wedding to be perfect, we have to face the fact that sometimes you can't be in control of everything: a guest that gets injured, a dress that gets damaged, a gift that gets stolen or lost.... Those few scenarios are just some examples of why, in my opinion, every couple should purchase wedding insurance for their wedding. The reality is that when planning a wedding, you invest a lot of time, money and energy and you need to make sure you protect yourself from unpleasant surprises.
There are two types of wedding insurance: event liability and property damage insurance, and cancellation/postponement insurance.
Wedding liability insurance is required by many venues and protects you for losses from accidents that may happen during the wedding. Wedding liability insurance can cover damage to the facility caused by a guest or vendor, bodily injury to guests, or even alcohol-related accidents. Other examples are severe weather, sudden illness, vendors that do not show up, damage to attire, photos or gifts.
Cancellation/postponement insurance reimburses you in the event your wedding has to be called off. However, make sure to read everything because most policies have specific scenarios where they agree to reimburse you, read the inclusions and the exceptions.
On top of these two types of insurances you can add-on items such as personal liability, medical coverage, etc. Refer to your wedding insurance company to see if you would like to add more to the basic coverage and really dig deep into what the basic insurance covers (coverage might vary based on the company you chose).
Some of the insurance companies I recommend checking are:
· Markel Specialty
To give you an idea of the basic wedding insurance policy costs, it goes from $155 to $500, depending on how much coverage you want.
To conclude this brief overview, I recommend getting wedding insurance as you start the planning process or as soon as the wedding insurance lets you purchase. It will give you some peace of mind in case anything happens, and it will reduce the stress caused by "what if this happens?"!