Should you get wedding insurance for your big day? The answer is a resounding yes. For those who don’t know what wedding insurance is, below are five of the most popular questions and answers regarding wedding insurance.  

What is wedding insurance?

Like any other insurance, you pay a fee for a wedding insurance policy in exchange for possible reimbursement if something goes wrong. Wedding insurance provides coverage leading up to the wedding day and protects the couple’s investment from circumstances beyond their control. The two main types of wedding insurance are wedding liability insurance and wedding cancellation insurance.

What is does wedding insurance cover?

Exact coverage will depend on the specific wedding insurance policy you buy. Generally speaking, wedding insurance covers venues, vendors, illness or injury before/during the wedding day, cancellations due to specific reasons (inclement weather, for example), and items such as gifts or rings. Like any insurance policy, there is a specific maximum amount that can be claimed and a deductible. The main thing wedding insurance doesn’t cover is calling off the wedding because of a change of heart.

How much is wedding insurance?

The amount will depend on the specific policy you buy, but a basic wedding insurance policy usually runs anywhere between $100-550 depending on the insurance company, wedding location and amount of coverage.

When should I buy wedding insurance?

In short, the sooner the better. You can purchase wedding insurance as close as a few weeks before the wedding day, but it’s better to buy it sooner once you have an idea of how much you’ll spend on your wedding. A lot of venues and vendors have nonrefundable deposits, so if you have wedding insurance in place before you sign contracts and pay deposits, you have coverage in place to protect your wedding payments.

Is wedding insurance worth it?

Absolutely. A wedding is one of the most special days in life, but also one of the most expensive ones. Though there is a price to be paid for wedding insurance, the peace of mind that comes with it is priceless.

Sunday, June 30, 2024