Why You Should Say ‘I Do’ to Wedding Insurance

You and your betrothed love one another. That goes without saying. Even before you got engaged, you were sure you had found ‘the one.’ With all that going for you, you might ask, why should you add the expense of wedding insurance, known formally as special event insurance?

Because chances are with all the planning that goes into a wedding, something might go wrong.

Keep in mind that it’s a big day that now costs, on average, more than $27,000 in the U.S. In urban areas, that average soars to $40,000 or more per wedding. With those kinds of bucks on the line, you can never be too careful about protecting your investment.

What could go wrong?

Murphy’s Law says anything that can go wrong will. Old Murphy must have been to a failed wedding or two, because he sure got that one right. Here are some of the ways your nuptials could go wrong, even if your relationship remains strong:

Health:

It’s the day before the ceremony, and every bridesmaid has the flu. What happens then? Suppose the father of the bride or groom suffers a heart attack because of all the excitement surrounding the ceremony. Suppose you or the groom gets appendicitis.

The venue:

You leased a restaurant for the reception. What happens if it goes out of business before the big day? Are you guaranteed your deposit back?

The weather:

If you’re getting married during the winter, the threat of snow and ice can scare guests off, even important ones such as members of the bridal party. During the rest of the year, rain poses a threat to any outdoors ceremony. And in spring, there’s the possibility of a hurricane or tornado damaging your venue.

No-shows:

You did everything right, hiring a band, the caterer, the photographer, the videographer and a florist well ahead of time. Only what happens if one of those vendors has an illness, or simply misses a flight or has a car breakdown? If you have to endure the cost of hiring a vendor at the very last minute you should be compensated.

What’s the answer?

The reasons above are only a fraction of the things that could cause a problem for your wedding. And in most cases, you’d be on the hook for that $27,000, if not more. What can you do to protect yourself and your investment? Purchase special event insurance.

The cost is relatively cheap, anywhere from $125 to $400, according to theInsurance Information Institute  Compare that with deposits and other payments you’d likely lose if you were to have to cancel the ceremony for any reason.

 

It’s also worth remembering that many venues will require you to have liability insurance before they’ll allow you to make a reservation. That’s just in case one of your guests damages the building or injures himself or herself at the event.

 

Let’s face it. If any of those things really happen and you have to cancel or postpone your ceremony, you’re not really going to be happy – even if you can file a claim against your special events policy. But at least you won’t be financially devastated.

 

Couples also can purchase extra coverage for protection against damage to wedding outfits, theft or damage to gifts and weather or other problems that could force cancellation of your honeymoon.

 

One final thing about special event protection. Wedding insurance also offers coverage for the ultimate bummer – the bride or groom breaking her or his commitment. However, most policies only pay out if that decision is made at least six months in advance of the ceremony. Again, money won’t heal the broken heart, but it can help cure the ailing wallet.

 

This article was contributed by Carrie Van Brunt-Wiley, Editor of the HomeInsurance.com blog. Carrie has been writing insurance news and consumer information for HomeInsurance.com since 2008. She graduated from the University of North Carolina in Wilmington in 2005 with a B.A. in Professional Writing and Journalism