As you celebrate the beginning of your lives together, wedding insurance can help protect your financial future if something beyond your control should go wrong. Wedding insurance helps protect all you have invested in your wedding, now and throughout the planning period as you put down deposits, sign contracts and make purchases. Wedding insurance policies are relatively inexpensive, a basic policy costs between $125-$500.
What do wedding insurance policies typically cover (be sure to read the fine print of your policy)? Wedding dress (if lost or damaged), lost deposits (if a vendor goes out of business or fails to show up), lost rings, severe weather (such as a hurricane, forces you to postpone your wedding), transportation shutdown (if you have to postpone your wedding because a commercial transportation shutdown prevents the bride, groom or their parents from getting there), damaged gifts, sudden illness (prevents the bride, groom or their parents from attending), venue requires insurance (can add liability coverage to protect yourself in case a guest is injured or causes damage to property), and more!
Keep in mind that wedding insurance does not cover you for "change of heart." So, if either the bride or groom decides not to go through with the wedding, the people footing the bill will pay out of pocket.
“Considering that the average wedding costs more than $28,000, soon-to-be newlyweds have a significant amount of money on the line and a vendor’s ‘Going out of Business’ sign can be far worse than rain on their wedding day,” said Bill Mitchell, CEO of BBB of the Southland, Inc. “Wedding insurance can provide piece of mind for a couple that their money will be recovered if a vendor or venue falls through at the last minute.”
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