Wedding insurance can be a good investment because it can help protect your financial investment in your wedding against unexpected events:
• Cost
With the average wedding costing over $30,000, wedding insurance can help protect your investment.
Risks
Wedding insurance can protect against risks like vendor no-shows, severe weather, venue closures, and injuries or illnesses of people involved in the wedding.
Coverage
Wedding insurance can cover a variety of things, including lost deposits, cancellation or postponement costs, and more.
Affordable
Wedding insurance can be affordable, with an average cost of $162 for $1 million in liability insurance.
Venue requirements
Some venues may require you to purchase event insurance.
Before buying wedding insurance, you should compare policies to understand what they cover and don't cover. You should also check with your vendors and venue to see what coverage they already have, and identify any gaps in coverage.
If you need to file a claim, you'll likely need to pay the expenses and wait to be reimbursed by the insurer. If there's a deductible, you'll need to pay that amount before the insurance kicks in.
• The Bottom Line
A wedding insurance policy can help cover your costs if things go wrong on your big day. Although a policy can run several hundred dollars for a typical ceremony, given the cost of the average wedding today, it could be well worth the investment.
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