Risk

Wedding Insurance


What is Wedding Insurance?
Everyone wants their big day to be an unforgettable occasion that creates unique, lasting memories. However, like other significant milestones like buying a home or a car, it may also be one of the largest investments a couple will make. Wedding insurance is one of the preemptive measures brides and grooms can take to mitigate the losses caused by unforeseen circumstances on their wedding day.  No one plans for anything to go wrong, but as Murphy’s Law states ‘whatever can go wrong, will go wrong’.
 
When creating a wedding budget and spending hard-earned dollars with any number of different vendors, there is risk that not everything will go according to plan. In fact, some brides and grooms are forced to deal with situations that could disrupt plans, or even force cancellation of the event. That is where wedding insurance can come into play.
 
Like most insurance plans, there are a variety of different types of wedding insurance policies that provide different types of protection:
 
Wedding Cancellation Insurance
This first type of wedding insurance covers the financial losses incurred in the event the wedding is cancelled or postponed due to sudden illness, severe weather, lost deposits or vendor bankruptcy. It even offers protection to wedding attire, photos, videos, gifts, and more. For example, a key person in the wedding could be involved in a car accident on their way to the event, forcing cancellation or postponement of the wedding. A wedding photographer or other vendor might be a no-show, causing unexpected additional out of pocket expenses.  
 
Wedding Liability Insurance
Liability insurance for weddings can help protect the hosts of the wedding if they might be liable for any damages incurred to the venue or an accidental injury to a guest at the wedding. It is not unusual for such incidents to take place, considering that alcohol may be involved as well. Recognizing this, many venues require brides and grooms to purchase liability insurance protection, including host liquor liability, to address this risk. WedSafe works with thousands of wedding reception venues across the USA, and provides a range of coverage options to meet venue requirements.
 
Protecting your investment
Couples may save up money over years for their big day, but could still lose deposits due to something that was completely out of their control. While everyone may hope for a perfect wedding day, the reality is that some things can go wrong. Weddings can certainly be quite an extravagant and expensive affair. According to a survey conducted by The Knot, the average wedding cost approached $35,000, which is a significant investment.
 
What Could Go Wrong?
Some may think that it is just one day, what could possibly go wrong? Unfortunately, a variety of things can and do go wrong on wedding days. WedSafe has seen wedding insurance claims of all kinds.  From sudden severe weather, to vendors failing to provide their services, the risks involved with wedding are potentially endless.
 
How much does wedding insurance cost?
Wedding insurance can be a small price to pay in the grand scheme of a wedding budget.  WedSafe reports that for less than half the cost of an average wedding cake, brides and grooms can add to their peace of mind.  The average WedSafe wedding insurance policy is under two hundred dollars. For anyone planning a wedding: click here to request a quote or contact WedSafe for more information.