I think it is safe to say that the Royal Wedding kicked offed wedding season this year. So as you plan your own “royal wedding” you may be asking yourself, “what is wedding insurance? And should I get it?”
Wedding Insurance, more commonly known as event insurance, generally covers you in 2 ways; either with cancellations or liability. Having witnessed couples devastated after caterers, florist, or DJs fail to show and seeing liability disasters on YouTube videos; being covered for either or both is not necessarily a bad thing. Cancellation coverage typically covers you in cases of extreme weather where you have to cancel your wedding. You can be reimbursed for deposits or the entire cost of a venue. It also can help pay for the costs incurred to reschedule. Liability coverage covers you if someone is injured during the wedding, or if there is property damage.
There are more options for wedding insurance now than there has been in the past. Depending on the coveragepolices tend to start around $250.00. With the average cost of a US wedding at $30,000 an extra $250.00 to cover potential damage or loss doesn’t sound too bad. But, and there is a but, determining if you should get wedding insurance really depends on the policy fine print. You want to make sure that there are not too many exclusions, exceptions, or limitations. There is a chance you may be covered already. You may have some coverage for liability under you homeowners policy if your wedding will be at your home.
While wedding insurance could be very beneficial you will want to review (or a have wedding lawyer review it for you) it and make sure you are properly covered in case something does go wrong.