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wedding insurance
Wedding Insurance

Wedding Insurance

how much does wedding insurance cost

Peace of mind on your big day. CompareAquote.com will not promise you a great wedding day or a wonderful honeymoon. In addition, we will not help you select the right partner. But we can help you find and compare Wedding Insurance quotes. Because making sure if your special day is cancelled due to the craziness of life you will be made whole.

Wedding Insurance

wedding insuranceThe day you announced your engagement, while you were basking in the glory of that magnificent day, thought or wedding insurance was farthest from your mind. As your big day approaches and you calculate the expenses, it is a big emotional investment for the biggest day of your life, so shelling out a few hundred bucks for wedding insurance is the most prudent and wise decision.

A wedding is one of the most memorable events that can happen in our lifetime, a day in our life that we will always remember. More importantly, a wedding marks the start of one’s happily ever after. Behind any fairytale wedding day is a lot of preparation

According to a survey in 2019 by Knot, the average wedding cost in the United States is a whopping $33,900. This amount includes the expenses for the wedding ceremony, reception, and the wedding ring. With so much money at stake, a wedding is a big emotional investment. Unfortunate events may strike at any time. These unfortunate incidents may result in last-minute cancellation or postponement of the wedding resulting in significant financial costs. Moreover, liabilities can also happen due to injuries among guests during the wedding reception.

What is wedding insurance?

wedding event insuranceFor the bride and groom, 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. As for the parents of the bride and groom, an investment in your child’s wedding is an investment in their happiness. You want to protect their dream of a perfect wedding and your financial security.

Wedding insurance helps if you face a cancellation or postponement due to an unforeseen event such as illness, inclement weather, or military deployment. If the unforeseen occurs, the wedding insurance is there to protect what you’ve invested from the start.

What does it cover?

event insurance weddingThere are two types of coverage that wedding insurance offers. These are liability coverage and cancellation/postponement coverage. Liability coverage covers the damage that will happen at your wedding venue for which you are liable for. Cancellation coverage pays back for all the costs if you decide to cancel your wedding or delay it because of some unforeseen reasons. Additional coverage may apply if you want to ensure those that are not included in your policy.

Wedding insurance provides reimbursement for deposits forfeited and other charges paid or contracted to be paid by the insured. Reimbursement includes the following in case these problems arise: 

  • Transporting Costs
  • Catering Services
  • Property And Equipment Rentals
  • Location Rentals
  • Accommodations ( including travel arrangements and accommodations for a honeymoon if applicable )
  • Special Equipment and Flowers
  • Event Photographs
  • Videos and/or Entertainment Expenses

Sudden cancellations happen when unforeseen events come off. Here are some of the examples of cancellation claims that are covered by wedding insurance:

  • Heavy Fog Closed Roads   
  • Heavy Winds At The Venue
  • Flooding of Local Roads Prevent Access To The Venue
  • Church Center Destroyed By Fire
  • Military Deployment

If someone got sick or injured during your wedding, your wedding insurance can also cover the medical costs and the rescheduled date of your wedding.

 Even the drunken guests that will cause damage to others once they leave are part of this coverage under the liquor liability insurance. 

They also reimburse even if the wedding is ongoing and a vendor didn’t proceed to come. A no- show vendor is a big problem. Your provider can pay for a rescheduled wedding day and reception if this happens.

What is not covered in Wedding insurance?

Wedding insurance covers most of the unforeseen reasons that will taint your big day. However, there are some instances that they won’t cover for you. Here are the exclusions that are not included in wedding insurance.wedding liability insurance

  1. You may opt for extra coverage that will cover for loss of jewelry or a damaged wedding dress and also gemstones attached to your wedding dress because that is not covered by typical wedding insurance.
  2. Wedding jitters happen before the wedding that sometimes leads to the cancelation of weddings. Change of heart or having cold feet is not covered by wedding insurance. 
  3. Lost or stolen engagement rings are not covered. But rest assured your wedding rings are part of the coverage.
  4. Rainy days are not covered if you are going to cancel your special day with this type of weather. Only extreme weather is included
  5. Switching to your chosen vendor to another after you’ve paid for the deposit is not covered, particularly with the caterer or florist.
  6. Fireworks or other attractions for your upcoming wedding will most likely be the reason for you to be declined. Insurance companies might find it unsafe and may lead to a bigger claim. Instead, they will surely offer insurance that excludes these risks.
Do you need Wedding Insurance?

wedding insurance costIt used to be a luxury, but now some venues are requiring that you have that very basic liability coverage. Since you have to go shopping for that liability policy anyway, it makes sense that for a few extra dollars, you get some of that extra peace of mind.

It also ensures you’ll receive some form of reimbursement for what you’ve already paid. Cancellation coverage, depending on your policy, could reimburse you up to the total cost of your wedding. However, some insurance companies require that you first check to see if postponement, delay, or relocation is an option before they reimburse you for canceling. The nature of insurance is that there are unknowns, so you could have something go wrong the morning of the wedding that could be covered.

Is liability insurance the same as wedding insurance?

 Insurance can be a complicated business, and wedding insurance is no exception. Similar to how your car insurance has both liability and comprehensive options, wedding insurance typically comes in two flavors: liability and cancelation.

best wedding insuranceLiability insurance protects you from responsibility from any accidents or injuries during your ceremony or reception. This extends to alcohol-related incidents. Some venues require this, and your local jurisdiction may also require it for a liquor permit. Rehearsal dinners are not always covered, but can sometimes be added on as an option.

Cancelation insurance reimburses you for all money spent in the event your wedding has to be called off. There is a very important caveat to this: nearly all policies do not cover a change of heart. There are some exceptions to this and they almost exclusively apply to a third party paying for the wedding.

Therefore buying comprehensive Wedding insurance that covers cancellations, vendor no-shows, wedding gifts were stolen, etc. is necessary. Just liability insurance will not cover all the mishaps and disappointments on your big day.

How much does Wedding insurance cost?

Since there are so many variables involved in a wedding, no two policies will be the same. Hence, Special events insurance is what’s called a non-standard policy, meaning every single policy from every single provider is different.

The basic policy can be $200 and a destination wedding can run up to $1000.The final quote will depend on the range of what’s included and the scope of your event. Consider your total wedding budget when shopping for a plan. This will help you determine a premium that’s positively correlated to your investment.

Point to note: Events that have been able to go ahead during the COVID-19 pandemic, there is a significant increase in prices of special event insurance, in some cases up to 200%. So not only price increase there are big increases in restrictions as well.

 

How to purchase Wedding Insurance?

The perfect time to buy wedding insurance is any time before making a payment or deposit in relation to your wedding. By doing so, you can make sure that your wedding expenses will be part of the insurance policy in case something goes wrong along the way.

 

A helpful tip in choosing a wedding insurance policy is to have in mind the estimated costs of your wedding and the possible risks that are likely to happen — by knowing this information you will be able to select the perfect wedding insurance policy for you that is within your specific budget. 

At CompareAquote we will guide you through the quote and the best possible coverage for your special day. The fine print in special event insurance is the key in coverage being covered or not getting a reimbursement or claim.

 

But, wedding insurance can also be purchased even 24 hours prior to your wedding day! 

wedding liability insurance cost

Conclusion

Anything can happen on your wedding day, so don’t be lulled into thinking that your event is immune from disaster. Your photographer might not show up…or your aunt could melt your wedding dress while ironing out a few wrinkles. Wouldn’t it be nice to have some protection and peace of mind in case something happened to your venue, gown, or vendors?

Wedding insurance may financially protect you against a variety of unexpected problems that could tarnish your special day—and bank account.

You invest a lot of time, energy, and money in creating a beautiful day. Wedding insurance is a way to protect that investment, as it can cover a multitude of things, from relatively small issues that incur additional costs to unforeseen circumstances that can cause the cancellation or postponement of the entire reception.

Also, since events pose liability risks, many venues require liability insurance before they’ll allow you to use their facilities. Your venue may ask you to provide proof of Event Liability Insurance as part of your contract with them.

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