Wedding Insurance Basics

From last minute cancellations to a damaged wedding dress, wedding insurance is intended to help protect against unforeseen events and problems that can affect the event. This little insurance policy can give peace of mind on one of the biggest events in most people’s lives. But, what is wedding insurance? Just what can be insured?

The insurance policy for a wedding is to protect the bride and groom’s investment from circumstances that are beyond their own control. In the event of a covered, unforeseen event, the insurance policy will reimburse expenses that have been incurred. What if the reception venue goes out of business just before the wedding and takes the deposit with it? How about if the limo service doesn’t show up and another has to be ordered the morning of the ceremony- for double or triple the price? Anything can happen that would result in a financial loss, and this is where wedding insurance comes into play.

The policy may not cover jewelry other than riders for wedding rings. It also will not cover cancellations due to change of heart or cancellation of the wedding by the couple due to circumstances within their control.

The costs

A typical policy will cover loss of: wedding attire, wedding rings, wedding photos, wedding presents, wedding videos and all deposits. This type of coverage will cost on average between $175 and $600, based on the specific coverages and loss amounts. There is also a general wedding liability insurance that will cover against accidents for up to $1 million. Supplemental policies may be purchased to cover specific instances such as if a wedding is postponed due to a military member being deployed at the last minute. There is a rider to cover this and deposits would be covered.

It is always smart to shop around and do a wedding insurance comparison based on the quotes you get from the different companies you contact.

What to Cover

Many wedding venues and vendors already have insurance policies in effect that will cover the couple under certain circumstances. It is wise to ask each vendor and the venue to provide a copy of this policy to ensure that the coverage is not overlapping. This gives the option of only including vendors that are not fully covered as this will save money on the policy.

When to Insure

Many insurance companies have a time limitation on how early wedding insurance may be purchased. It is a good idea to get insurance as soon as deposits are being made for services and venues. Those deposits will be insured if the policy is already in place

What companies offer wedding insurance?

There are a host of companies that offer the types of insurances described above. Of course, as with all insurance you need to buy it in the country that you reside in. We are therefore only listing companies in the United States and UK for now, but more insurance companies will be added with time.

WedSafe (US)

One of the premier wedding insurance companies in the US, with a wide variety of products for the bride and groom to be. WedSafe offer both wedding liability insurance and wedding cancellation insurance, and their prices can be found by asking for a quote on their web site. Buying both products gives you a 15% decrease in your premium paid.

ProtectMyWedding (US)

A Travellers company that specializes in wedding insurance, with a great online web site where you can purchase the exact coverage you need. The order page lets you add coverage for wedding ring insurance, event photographs, event gifts, special attire, jewelry, and lost deposits. They also have a nice frequently asked questions area that answers many of the questions you might have about wedding coverage.

WeddingPlan (UK)

An insurance company based in the UK that insures both wedding and reception at home and abroad. They have a very nicely structured web site that makes it simple to get wedding insurance quotes and buy the coverage you need.

Related posts:

1. Wedding Ring Insurance
2. Wedding Liability Insurance
3. Wedding Insurance Comparison