Wedding Insurance

An average wedding in the United States costs over $25, 000. Much of the cost is on non-refundable deposits which are applied to your balance.  Wedding insurance is worth considering.

There are three major insurance companies in the United States that offer this type of policy:

WedSure.com (Fireman’s Fund Insurance Company) (the only company that covers “Change of Heart” i. e. if one party decides he/she no longer wants to get married)
Where: United States, its territories and possessions, Canada

ProtectMyWedding.com (Travelers)
Where: United States, Mexico, United Kingdom, Canada, Caribbean (excluding Cuba), Puerto Rico

WedSafe.com (Affinity Insurance Services)
Where: United States, Mexico, United Kingdom, Canada, Caribbean (excluding Cuba), Puerto Rico

The Cost of Wedding Insurance

Depending on your state and what is covered, the average is between $100 and $500

When to purchase Wedding Insurance

As soon as vendors are being booked you should purchase insurance. Generally the purchase should be made no later than 15 days before the event, otherwise certain items may not be covered.

What will be covered:

The two main categories are:

Personal Liability

Couples are generally required to have their own liability coverage which protects you if you are held liable for property damage or bodily injury. This usually includes protection against alcohol-related incidents.

Cancellation/Postponement

There are two types of protection under this heading for recovery of non-refundable expenses:

  •  if you are forced to cancel or reschedule the wedding for a covered reason;

or

  •  if your wedding takes place as planned but you experience a covered damage or loss.

Other types of problems may also be covered: –

  • Unexpected expenses you may have to incur to avoid cancellation or postponement.
  • Gifts: The repair or replacement of gifts that are lost, stolen or damaged.
  • Jewelry: The repair or replacement of the bride or groom’s wedding band if it is lost, stolen or damaged.
  • Loss of Deposits: If deposits that you have paid become non-refundable because a vendor you hired goes out of business or simply fails to show up.
  • Photographs and Videos: This covers the retaking of photographs or videos if the photographer fails to appear or disappears with your photos after the wedding or if the same are lost, stolen or damaged.
  • Special Attire: Should the bridal gown be lost, stolen or damaged (this includes the financial failure of the seamstress, tailor or bridal store), it will be repaired or replaced. Certain companies also cover the groom’s tuxedo and all other bridal attire.

WedSure:
They allow you to select the exact coverage you need and are the only company mentioned here that covers “Change of Heart” and “Weather Insurance”.

  • Medical payments: (an optional cover)
    Reasonable medical expenses will be paid for each person who is injured during covered events.
  • Professional Counselling:
    Any counselling prescribed by a medical physician as a result of a cancellation/postponement of an event will be paid for by the insurer.
  • Rented Property:
    This covers the repair or replacement of items which may be damaged and that have been rented to facilitate the wedding such as tents, tables, chairs, to name a few.

WedSafe:
brought to you by Aon pic, a leading global provider of risk management, insurance and reinsurance.
This company offers 10 levels of core coverage and pricing premiums range in price accordingly.

ProtectMyWedding:
Most of their plans do not have deductibles and there are 10 levels of core coverage.

What is NOT covered:

If you become unemployed, you will only be covered if you qualify for state unemployment compensation.
Any form of fireworks including sparklers that cause damage will not be covered.
Any hazardous sport which causes an injury and therefore results in a postponement, will not be covered.
If a bridal gown is stolen out of a car, it is only covered if the car alarm was on and there are signs of forced entry as well as a report made to the police within 24 hours of the discovery of the loss.

There are several things you can do to protect yourself from financial loss associated with your wedding:

Book professional, highly recommended vendors. Before signing a contract, look online for reviews and ask your venue for referrals.
Book vendors who have been in business for some time as they are less likely to suddenly go out of business.
Pay with a credit card as you may have some recourse by disputing the charges with your credit card company.
Book an indoor venue if there is a slight chance of severe weather on your wedding date.