You’ve already paid thousands of dollars for your dream wedding and you want to ensure that everything goes right. Just in case, you can purchase wedding event insurance to cover anything that may go wrong. If you’re curious about this type of policy, here is a general overview of what it is and what it does.
What is wedding event insurance?
Wedding insurance is like any other insurance policy. By purchasing this type of coverage, you’re making sure you don’t suffer losses from any circumstances you can’t control. Situations can vary widely depending on the policy you choose to purchase such as a limo driver failing to show up or a photographer cancelling at the last second. These two things are examples of what can go wrong before a wedding, but with wedding insurance, your deposits can easily be recovered.
How much does wedding event insurance cost?
Basic insurance policies may not be very expensive, especially compared to what you’ve already spent. The average wedding costs $26,444. If you’ve spent anywhere near this amount, you’ll be happy to know that the average wedding insurance can cost anywhere between $155 and $550. While these quotes may not seem extremely favorable, you’ll be happy to know that the average price for $1,000,000 in coverage can be as low as $185.
The high price of wedding insurance can come from add-ons. For example, if you’re thinking of serving alcohol, you may want to consider adding liquor liability coverage. This policy covers you if intoxicated guests get a little out of control and causes damage to other guests, the venue, or your belongings. While some insurance companies allow you to add liquor liability for free, others may charge extra.
What does wedding event insurance cover?
Basic wedding event insurance covers problems with the site, weather, vendors, and sickness/injury. Some policies also include coverage for photography, videographer, gifts, attire, and medical coverage. If you wish to include coverage for personal liability, liquor liability, and honeymoon insurance, then these are additional add-ons that you can include with your policy.
Depending on what you want, your wedding insurance can cover literally anything that can possibly go wrong at your wedding. If weather conditions prevent the bride, groom, or important relative to make it to the wedding, insurance will cover rescheduling the wedding. If the venue booked at cancels at the last minute, you can reschedule at no extra cost using your wedding event insurance.
Do you need wedding event insurance?
Peace of mind is one of the biggest advantages of purchasing this type of insurance, but do you really need it? Something to consider is that most venues insure their own location for liability. You can call your venue and see how well they’re covered. There’s no reason to pay for something that is already covered. You may even have the ability to request a copy of their policy. If you feel as though you need to purchase wedding event insurance, a few hundred dollars can ensure that the thousands you’ve spent will not go to waste.