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Should You Get Wedding Insurance Before You Say, “I Do”?

WeddingRings-apdk

Wedding Insurance can cover your wedding rings.
(Photo credit: apdk on flickr.com)

How many things can go wrong in your wedding? This is precisely the question that drives brides-to-be crazy. The fact is, there’s no crystal ball to tell you what might go wrong on your wedding day. A lot of things can go wrong in a minute, and, no matter how detailed your preparation may be, they’re mostly beyond your control.

What would you do when your wedding gown suddenly gets ripped on the side?  How do you deal with last-minute cancellations, with alternatives that cost three times as much as the price you originally paid? What would you do if the gifts get stolen? These are only some of the scenarios that wedding insurance can deal with. But how does wedding insurance work?

Essentially, wedding insurance will take care of your wedding investment whenever something unexpected and beyond your control happens.  These unexpected events could be anything from bad weather to vendor no-shows.  The policy will clearly state what unexpected events are covered.  And if any of these unwelcome problems do happen (and we hope they don’t!), then you will get reimbursement or replacement for the items affected.  This could be anything from a destroyed custom-made tuxedo to a reception space that needs to be replaced ASAP.

Why Should You Get  Wedding Insurance?

Most couples don’t realize that they need wedding insurance until the wedding day itself.  And by then, it’s too late to get wedding insurance. You don’t want to wait until it’s too late.

You should buy a wedding insurance policy if for no other reason than to have peace of mind and security that, in case anything goes wrong, your investment is protected. In fact, a survey by of wedding insurance claims by ProtectMyWedding.com showed that in 2012, 58% of all claims were those involving the photographer. The next most frequent claims are those pertaining to vendors, making up 24% of all the claims. Up to 19% of the claims are those related to illnesses and injuries, while 15% are caused by problems regarding the venue.  Another 14% are attributed to poor weather conditions.

In some ways, not having insurance can be far more expensive than the cost of wedding insurance premium. What would you do if the photographer suddenly doesn’t show up? What if the venue becomes unavailable (or, heaven forbid, goes out of business) just days before the wedding? With wedding insurance, you don’t have to worry about the costs of these catastrophes, and your expenses won’t balloon beyond your budget.  Without a wedding insurance policy, you’d be spending way more than you originally planned.

There are some cases, however, where you should not get wedding insurance.  Before choosing insurance that covers your vendors, check with your vendors themselves. Do they already have insurance in the first place? If they do, your payment for the vendor already includes the premium for the insurance.  In this case, don’t buy wedding insurance to cover that vendor.

As you can see, you need to do your homework to choose the right wedding insurance for you.  Like any insurance, we certainly hope you don’t need it, but it’s good to have it just in case.  And for something as important (and expensive!) as your wedding, it’s a choice to put near the top of your to-do list.

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For more information about wedding insurance, check out these other articles here at Wedding Brook:

 

 

 

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