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Saying Yes to Wedding Insurance Again {Ask a Wedding Planner}

 Jason Mize Photography

Jason Mize Photography

Today, we are pulling another one from the archives! Normally, we are not ones to recycle information that we have already put out there, but because it is something that we answer on weekly basis, especially since Hurricane Irma blew thru last year at the beginning of Wedding Season, we figured it was time to revisit the super important topic of Wedding Insurance…just in time for 2018 Hurricane Season!  One of our most important jobs as Wedding Planners is to inform and educate the clients and after speaking with a current client the other day who was thoroughly misinformed, we figured this topic could stand to be repeated and refreshed.  


Imagine this…you've been planning your dream wedding for over a year and 1 month before the big day, a named storm makes landfall near your wedding destination, causing minor, structural damage to your venue, forcing you to look at alternative venues, locations and dates.  Or perhaps, you've planned the perfect wedding and 4 months before the big day, your caterer goes out of business and you're left scrambling to find a replacement, on top of all your other insurmountable wedding stress and expenses.  What should you do?  The answer may be simpler than you think...invest in wedding insurance!

While these situations are not the norm, it does happen, along with a lot of other unforeseen circumstances that you most likely can't control (i.e. the weather).  Therefore, you should consider making the investment in wedding insurance.  Just like with all the other facets of your life that you have insurance for (car insurance, medical insurance, life insurance), your wedding is just as an important to protect, given the large investment you are making and you should protect it for those just in case moments.

 

What Is Wedding Insurance?

Basically, wedding insurance protects a couple's investment from circumstances beyond their control, and reimburses expenses incurred. For example, what if your hair and makeup artist doesn't show up and you need to book another one the morning of the wedding -- for three times the price? Or what if the groom's custom-made tuxedo is lost in airport baggage, and he needs to buy a new one the day before the wedding? What if your reception space goes out of business a month before the wedding, and you lose your deposit and have no choice but to book another space? These are the types of big-day financial losses that wedding insurance can help to protect.

We had an incident years ago where the photographer that the couple had hired was due to fly in the morning of the wedding, as she had worked a wedding the night before.  Due to weather (the one thing that cannot be controlled), she was unable to fly out to cover all of the pre-wedding festivities (getting ready, first look and the ceremony).  At the last minute, we had to hire another photographer to step in until the original photographer could make it.  Since the client had elected to purchase Wedding Insurance due to weather, they were able to put in a claim for the additional costs they incurred for the new photographer and the insurance company covered much of the added and unexpected expense.

Even in our uncertain economy, wedding price tags are escalating with the average cost of a wedding exceeding $35,000.  With such a high price tag, the wedding insurance business has been rising recently, to protect couples from unexpected disruptions and it does happen.

What Does It Cost?

In all reality, wedding insurance could be the least expensive item on your to-do list.  The price is dependent on the amount of coverage you want, usually based on your overall spending budget, but can range from $150-$1,000.  And the sooner you purchase it, the better.  If you are wanting protection against a hurricane or other major weather threat, most insurance companies will require that you purchase the policy well in advance (at least 30-60 days).  Wedding Insurance should simply be a line item in your budget, just as flowers, cake and music are.  Paying a few hundred dollars now is a lot better than paying thousands later.  Not to mention, the cost of the added stress that unexpected expenses can cause.

What Does Wedding Insurance Cover?

Problems with the site, major weather, travel, vendors, key people, sickness, or injury are the top concerns come wedding day. There is usually a specified maximum amount, which can be claimed under each section, and a deductible also applies. Be sure to find out the details of your insurance plan.  Typically, inclement weather isn't enough to trigger a policy, but it is important to check your policy to see what is covered and what is not.

Additional Coverage

Couples can take out supplemental policies to defend against damages incurred by other wedding-related items such as photography, videography, and gifts. Additionally, there are general and personal liability coverage plans can include alcohol related incidents, although some companies have additional alcohol-related incident coverage, as well as medical coverage and honeymoon coverage.

Things to Consider

Every insurance policy and every wedding scenario is different. Be sure to talk to your insurance agent -- and have him or her explain the nuts and bolts to you. You want to make sure you understand every detail of your policy. 

Below are a few online resources to check out.  Most of the companies below allow you to go online and receive/request a quote.

WedSafe.com
ProtectMyWedding.com
WedSure.com

We hope this gives you a little more insight on wedding insurance and why you should consider purchasing it for your big day.  Remember, it's always better to be covered than to be standing out in the rain (literally) wondering what if.

 Chelsea Renee Photography

Chelsea Renee Photography

 Megan Ellis Photography

Megan Ellis Photography

~Kelly & The Just Save The Date Team