Do You Need Insurance?
What is wedding insurance? Do you need it? Is there even a point? Don't worry! We have got all of the answers for you!
Weddings can be extremely expensive these days, and unfortunately, unforeseen events can occur. Vendors can not show up, things can break, and packages can get lost! The purpose of wedding insurance is to protect the investment made by the couple on their event. There are typically two types of wedding insurance.
Event Liability & Property Damage Insurance: This type of insurance is frequently required by many wedding venues. The purpose is to protect you if you are held financially liable for property damage, bodily injury, or alcohol-related accidents that occur during your event. This type of insurance can be extremely important if you choose a venue with a lot of historical value or something like an art gallery with a large amount of highly-priced valuables.
Event Cancellation/Postponement Insurance: This type of insurance offers coverage for nonrefundable expenses or lost deposits should the event need to be canceled due to extreme weather, an unexpected illness, military leave, and other serious situations. An unexpected bonus of this type of coverage is that it includes vendors who do not fulfill their obligations to you.
Here are some quick tips to think about when considering getting wedding insurance:
Coverage can start as low as $75, and the average cost is around $200.
There are levels of insurance for every level of wedding. Even if your wedding will be on the money-saving end, there are options that will fit your event perfectly.
Check with your vendors to see how well they are covered to keep yourself from overlapping coverage.
** We have liability insurance, so you don't need to worry about us!
The sooner you get your coverage the better. If your venue is going to burn down, it could happen 12 months before your wedding, or 12 days.
Your insurance will not cover:
Cold feet! A change of heart won't be paid for.
Watches, jewelry or semiprecious gemstones, or pearls (even if they are attached to clothing) may not be covered.
While your wedding rings may be covered by the policy, your engagement ring probably will not.
We suggest checking out www.wedsafe.com, www.travelers.com, or even www.progressive.com if you are interested in getting coverage for your event.