Before getting married, you probably plan to insure your engagement ring. But you also can insure an even bigger money splurge – the wedding itself.Wedding insurance, also known more broadly as "event insurance," can protect you from a host of wedding snafus and crises that may force postponement of your nuptials. Such coverage spares you from starting your new life together with a big financial loss.
There are two types of insurance available for your wedding: Cancellation/postponement insurance and liability insurance.
Cancellation/postponement wedding insurance
Cancellation/postponement insurance covers the cost of your deposits if an unexpected event forces the postponement or cancellation of your wedding.
It also provides financial protection against lost deposits from no-show or bankrupt vendors and reimburses you for stolen gifts or wedding mementos, such as crystal toasting glasses or a sterling knife set used to cut the cake.
This type of wedding insurance reimburses you for your deposit money and other financial losses in the face of unfortunate twists of fate, such as:
Banquet hall burns downs
Caterer skips town with your salmon puffs
Bride's dress is stolen
Officiate or a "major player" in the wedding (such as the maid of honor) is ill, forcing postponement.
Church has a blackout
Photographer goes MIA
Snowstorm, tornado or other extreme weather forces postponement
Wedding items become lost or damaged
A bandit makes off with the birdcage full of cash-stuffed wedding envelopes.
However, check the details of your policy, as cancellation/postponement insurance will not reimburse you for every type of mishap – such as certain weather conditions.
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