While brides and grooms always expect their wedding day to go perfect, this is not always the case. As the event planner or wedding host, it is your responsibility to have certain protections in place to help safeguard against the unexpected. Wedding insurance is a valuable tool that can help cover various expenses, such as personal injuries, property damage, vendor mishaps, and similar issues beyond your control. From harsh weather conditions that result in cancellations to problems with the venue, having wedding insurance can provide everyone involved with the peace of mind that you are doing everything you can to protect the couple’s big day.
What Wedding Insurance Covers
A standard policy can cover a wide range of issues that may arise leading up to or during the wedding. Some of the most common things that wedding insurance covers include property damage, lost or stolen gifts, damage to the dress or other wedding attire, extreme weather cancellations, guests becoming injured or ill, property damage, military deployment, and vendor issues such as a permit being revoked or when a vendor is a no-show. Insurance can also help cover the expenses involved in rescheduling a wedding, such as the cost of the venue, flowers, and food.
What It Does Not Cover
As every insurance policy is different, it is important to be aware of the things that are not typically covered by wedding insurance. The policy will not usually cover expenses if the bride, groom, or both individuals decide to voluntarily pull out of the wedding, such as if they had a change of heart or cold feet. In addition, certain pieces of jewelry may not be covered. For example, while your wedding ring may be covered by wedding insurance, your engagement ring may not be. In addition, other pieces of jewelry like watches may not be covered by insurance if they become damaged or stolen.
Types of Wedding Insurance
While there are a number of policies available, none are more important than liability coverage and cancellation coverage. Wedding liability insurance helps cover damages that you may be held responsible for, such as personal injuries or property damage. Cancellation coverage will cover expenses relating to the unexpected cancellation of the wedding due to circumstances like dangerous weather conditions that make it impossible to travel. While these two policies are available separately, you may want to consider bundling them together. If alcohol will be served at the wedding, you may also want to consider a host liquor liability insurance policy.
Wedding vs. Personal Insurance
When planning a wedding, many couples make the mistake of thinking that their home insurance will cover their wedding. It is important to understand that home insurance is a type of personal insurance and is not intended to cover special events like weddings. Home insurance generally covers things like personal property and personal liability and may be subject to a deductible. However, there are circumstances in which your home insurance coverage may be used. For example, if a piece of insured jewelry is stolen during the wedding it may be covered under your home policy.
Importance of Wedding Insurance
You may be wondering if you really need wedding insurance. In most cases, the answer is yes. Unexpected events can happen at any time and you want to be prepared for when they do. Car accidents can occur forcing the couple to postpone the wedding, a wedding dress can become damaged during transport, or a vendor may go bankrupt at the last moment, leaving the bride and groom high and dry. Ideally, you want to acquire a policy at least 12 months prior to the wedding date to ensure you are fully prepared.
What to Know Before Acquiring Insurance
If you are interested in acquiring wedding insurance for the upcoming wedding that you are hosting, there are a few things you will want to consider. Start by talking to the venue where the wedding and/or ceremony will be held and determine what they will cover. If a venue has not yet been chosen, consider comparing different venues to see which offer the best coverage options. When choosing a policy, you need to get enough insurance to adequately cover the event but you do not need “too much” insurance. Wedding insurance does not have to be expensive but should cover all of the important aspects of the special event.
Where to Get an Insurance Policy
There are countless aspects involved in the wedding planning process and it is easy to overlook things like insurance. However, having a policy can make a big difference in the unlikely event that things go south at the wedding. For more information about wedding insurance or to acquire a policy, contact the entertainment insurance brokers at MFE Insurance today.