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When Should You Buy Wedding Insurance?

When should you buy wedding insurance? (Photo Credit:  Sergio Vassio on flickr.com)

When should you buy wedding insurance?
(Photo Credit: Sergio Vassio on flickr.com)

As you get lost in the rush of the wedding preparations, the wedding insurance might conveniently slip your mind—until something goes horribly wrong and realize that you’ve completely forgotten to buy a policy! For instance, if you’ve made a deposit for the wedding reception, and the venue ends up going out of business just days before the wedding, all you have to do is make a claim and get your deposit back or have a reservation made somewhere else as stated in the contract.

This is why you should get wedding insurance as soon as you can, preferably months before the wedding…but after you’ve figured out the details of the wedding.  Don’t get an insurance policy until you have an estimate for how much the wedding will cost.  Since the premium will depend in part on how much the wedding will cost, you can get a fairer price if you’ve figured out more or less how much you’re spending for the wedding.

Just take note of the time period limitation of some insurance companies.  Some of them won’t allow you to get insurance if the wedding is still several months away.  On the other hand, there are other insurance companies that won’t allow you to buy insurance during the last few weeks before the wedding.

Another important time consideration is when the policy takes effect. The policy should be explicit as to when it is in effect. There are some policies that cover both the rehearsal dinner and the celebration, but these events should happen close together, often in 48 hours. Also take note of the time of the coverage. If it ends at 3 AM, and the insurable event happens at 4 AM, you’ll be out of luck. Stick to the time of the coverage, and try not to extend the reception long after it, if you want to make full use of the insurance.

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

 

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