Your wedding involves a lot of planning and forethought, and people work hard to ensure that everything runs smoothly and perfectly on this very special day.
Unfortunately, unexpected things can sometimes go wrong. If they do, you can obtain a bit of comfort knowing that you have a wedding insurance policy backing you up.
When shopping for an affordable insurance policy for your special event, you can benefit from the assistance of an independent agent.
These agents can ensure that you are properly covered for anything that might go wrong. Contact an independent insurance agent near you today to get more information and start comparing wedding event insurance quotes.
Average Wedding Costs
- Wedding: $33,900
- Reception hall: $12,116
- Live band: $3,700
- DJ: $1,200
- Wedding photographer: $2,400
- Video services: $1,800
- Flowers and décor: $2,000
- Wedding cake: $500
- Wedding gown: $1,600
- Limousine service: $800
What Is Wedding Event Insurance?
Wedding insurance is a specific type of special event insurance that can be purchased by the parties who are paying for the wedding. This insurance protects the policyholder against financial losses or hardships if something unexpected happens on the wedding day.
What Does Wedding Insurance Cover?
Insurance companies generally offer two types of wedding event insurance packages. You can choose to purchase just one or both. This coverage includes:
- Wedding cancellation/postponement insurance
- Wedding liability insurance
What Does a Cancellation/Postponement Package Cover?
This insurance package provides coverage, not only if your event must be cancelled or postponed, but also if any of your ancillary wedding services goes awry. This coverage includes the following:
- Cancellation/postponement insurance: If the venue in which your reception is to be held suddenly goes out of business or is damaged by a catastrophe such as a fire, or if you must postpone the wedding because a key member of the wedding party is ill, severely injured or has been called to duty, this coverage will reimburse you for lost deposits.
- Additional expense insurance: This provides coverage for unexpected expenses you may incur in order to avoid having to cancel or postpone your wedding. If a catering service or florist suddenly becomes unavailable and you are able to find a last-minute replacement, this insurance will compensate you for a portion of the price you were originally contracted to pay.
- Lost deposit insurance: If you have made a deposit on a wedding service such as a limo, band or DJ and the vendor goes out of business or declares bankruptcy before your wedding, this insurance coverage will ensure that you are reimbursed for your lost deposits.
- Wedding photograph or video insurance: There are several things that can go wrong with your wedding photographs or video. Film can be defective or destroyed, photographs can be lost, or the photographer may simply fail to show up. Professional wedding photos are a very important part of this special event, and this insurance will reimburse you for costs associated with reassembling your wedding party to take new photos or a video.
- Special jewelry insurance: This provides coverage for loss or damage to the wedding rings or to jewelry that has been rented specifically for the bride or groom if the loss or damage occurs within one week prior to the event.
- Special attire insurance: If the gown, suit or tuxedo to be worn by the bride or groom is somehow lost or damaged prior to the event, this insurance can reimburse you for the cost of replacement attire. Some policies will include coverage for the attire worn by the members of your wedding party as well.
- Cake and catering insurance: If your caterer or baker fails to show up for your event, they will typically reimburse you for any deposits you made prior to the event. This insurance will reimburse you for the costs associated with purchasing last-minute food or a cake.
- Wedding gift insurance: If your wedding gifts are damaged or stolen while on display at your event, this insurance will provide you with compensation so they can be replaced or repaired.
What Does a Wedding Liability Insurance Package Cover?
Wedding liability insurance is frequently required by venues in which receptions are held. Whether or not it is required, however, this insurance coverage can protect you from liability claims so that your wedding day does not become a financial burden.
Wedding receptions can be a lot of fun. Many people consume alcoholic beverages and enjoy dancing and celebrating with the guests of honor. However, accidents and injuries sometime happen, and if they are severe, you may be held liable for damages.
There are two types of liability insurance you can purchase for your wedding day:
- General liability insurance: This optional insurance provides coverage for property damage and bodily injuries that may be incurred by the guests at your wedding. This coverage excludes damage and injuries caused by intoxicated guests. For that coverage, you will need to add liquor liability to your coverage.
- Liquor liability insurance: This insurance is typically only available as an addendum to general liability insurance. This insurance is designed to protect you against liability claims for alcohol-related incidents at your event. This insurance is highly recommended if you will be serving alcohol to your guests.
In each case, your wedding liability insurance will provide compensation for any related court costs and legal fees.
Is Wedding Insurance Expensive?
Wedding event insurance is relatively inexpensive for the peace of mind it can afford you on your special day. A basic policy can cost as little as $150 and will cover your wedding and reception. The cost of your policy will depend on a few factors, including:
- The number of guests in attendance
- Whether alcohol will be served and, if so, what kind
- The location of the wedding and reception
- The amount of coverage purchased
The only way to discover what a policy will cost you is to shop for quotes. Considering how much money you will probably invest in your wedding day, this insurance is a tiny fragment of the total.
Find an Affordable Wedding Event Insurance Policy
An independent agent can help you determine the potential risks you face on your wedding day and can help you understand your insurance coverage options.
These agents can work with several different insurance providers to present you with a variety of competitively priced wedding insurance policies and quotes that you can review and compare.
Independent insurance agents can be found in thousands of locations nationwide, so it is easy to find an agent in your neighborhood who can help you with all your insurance needs.
All these agents have pledged to provide exceptional customer service and ethical advice. Contact an agent near you to learn more about wedding insurance today.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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The Knot.com 2019 wedding survey