You’re the middle of planning your wedding and your best friend, who is getting married before you, just had her florist go out of business and she lost her entire deposit. She is completely in shambles and now you are thinking – “Could something like this happen to me and how do I protect myself?”
There is a simple and affordable solution that every bride should take advantage of – Wedding Insurance! Wedding insurance has been around for a number of years and is becoming very popular as more wedding couples learn about the advantages of protecting their investment in their wedding with wedding insurance.
Here are the basics! There are two types of wedding insurance – Cancellation & Postponement insurance and Liability insurance.
Cancellation & Postponement insurance
Cancellation insurance covers you against lost deposits if you need to cancel or postpone your wedding due to injury or illness of a family member, extreme weather, unscheduled military deployment or other reasons beyond your control. It also pays you for lost deposits if a vendor does not show up or goes out of business, as well as covering costs for items like a lost, stolen or damaged wedding ring, gifts or your wedding gown.
Cancellation insurance comes in different levels, typically $7,500 up to $100,000 and is purchased based on the overall budget for your wedding.
Liability insurance
Liability insurance will pay for damage to the venue caused by you or a guest. It can also pay for medical expenses if someone is injured at your wedding. A good liability policy will also include liquor liability insurance, which will protect you if you are sued for damages caused by a drunken guest. Liability insurance is being required by more and more venues these days as a standard part of their contract. It’s also a great way for you to protect yourself if you are held liable for damage or an injury.
Liability insurance is most often purchased as a $1,000,000 per occurrence, $2,000,000 aggregate policy. This is what is typically required by wedding venues.
Not Covered by Insurance
Wedding cancellation insurance does not cover: cold feet or change of heart, a rainy day vs. extreme weather or switching vendors just because you decided you do not like the original vendor. There are also typical exclusions from coverage: fireworks, carnival games and live animals.
We really like using WedSafe and Tulip. both websites are extremely user friendly and will make your process easy as can be!
