Planning

The Wedding Insurance Conundrum – Is It Worth It?

We’ve all heard harrowing tales of how weddings have gone wrong. The fear of all that hard work going down the drain is at the top of the list for most brides. Weddings are expensive and catastrophe or misfortune can make them even more so. So, the question is whether you should get wedding insurance to protect yourself. We’ve compiled a list of considerations to help you decide, but first, we want to know whether you did/do have wedding insurance for your big day

1. Weathering the Storm

Is your wedding subject to the mood of Mother Nature? There is great potential for an outdoor wedding to be ruined by a storm, but also consider that your location might be in peril of hurricanes, flooding or other natural disasters that could cause great financial loss.

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2. Sick of It All

No one likes to think about getting so sick that they can’t attend their own wedding, but it does happen. Whether unexpected illness or injury are to blame, you have to consider that your day might be wrecked by a broken leg or unexpected contagions that wreck your plans.

3. Another Day

Anything can happen. That’s why most wedding insurance companies offer comprehensive coverage. This means you could be reimbursed for deposits, vendor payments, travel costs, and other expenses if you need to cancel or postpone the wedding. Of course, the reason for cancellation or postponement needs to be covered by the policy, so be sure to read the agreement carefully.

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4. Falling for You

As absurd as it may seem, people can and will sue you if injured at your wedding events. You can protect yourself by purchasing personal liability insurance. Also, make sure all of your vendors have their own liability insurance and ask to see documentation before signing a contract.

5. License to Liquor

Check to see that your venue has liquor liability insurance if you will be serving alcohol at your reception. Otherwise, you may want to purchase your own policy to protect yourself from any claims that could arise from unscrupulous guests.

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6. Disappearing Vendors

Vendors who don’t show up or go out of business can really cause a problem. Wedding insurance would cover deposits you paid and in some cases, would cover rescheduling costs. Sometimes, plans will cover the cost of extra expenses incurred such as last minute decoration costs because the florist didn’t show up or another cake because the baker is nowhere to be found.

7. Lost In Transit

Perhaps you are flying to your wedding location and your dress doesn’t quite make it there with you. Maybe the cleaners has lost the groom’s tuxedo at the last minute. Some policies will cover wedding attire that is lost, stolen, or damaged.

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While these are a few of the things that could happen, whether or not you purchase wedding insurance is entirely up to you. There are always factors that you will have in play that another couple may not. Popular website Which? has this to say about a decision not take out wedding coverage:

“Wedding insurance can protect you against a range of unfortunate events and help you make sure you’re not out of pocket as a result. But whether it’s worth taking out ultimately depends on the cost of your wedding and how worried you are about things going wrong. All aspects of the policy will have exclusions and cover limits, and there will also be general exclusions, so check your policy documents carefully.”

So, the question remains: Should you take out wedding insurance?

The answer comes down entirely to your individual needs and what you feel are your risks. If the cost of coverage seems greater than your risks, probably not. However, if you feel you are at a greater risk of anything going wrong, it could well be your wallet’s saving grace.

By Amy Naves, Excalibur Press

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