If you’re about to dive headfirst into wedding planning, you’ll soon discover (if you weren’t certain yet) that weddings require a lot of time, energy, and most importantly — money. Many people haven’t heard of wedding insurance before, but it is definitely worthy of consideration for many brides-to-be.
Considering that the average cost of a wedding in the United States was $35,329 in 2016, protecting yourself from losing all or most of your money is a wise choice. Explore the benefits of wedding insurance to decide whether this option is right for you.
The Benefits of Wedding Insurance
When you start booking caterers, the venue, the perfect wedding flowers, etc., you typically have to put down deposits — that are often non-refundable — by a certain date. Before the big day a lot of money is being spread around to these businesses whose job it is to make your wedding happen. Wedding insurance covers even the non-refundable deposits.
It really doesn’t matter if your wedding costs $4,000 or $75,000; undoubtedly, it is a lot of money to you and your family, and you don’t want to risk losing it. Wedding insurance ensures that you get all or most of your money back if something occurs that prevents the event from happening.
Don’t worry about your dress or engagement ring. They’ll both be covered by your renters insurance or homeowners insurance policy (if you have one), even if you store them outside your home.
Most wedding insurance policies cover loss or damage due to things like fire, unforeseen accidents, or even theft. The policy will cover all the essentials, including the main wedding outfits, gifts to the bride and groom, the rings, and the cake and floral decorations. They also generally include the cost of having to retake photographs or video, any issues with the vehicles used to transport the bridal party, and other personal expenses and liabilities.
The cost of your wedding insurance policy depends upon how much coverage you need, and varies according to the type of wedding you’re hosting. If you’re getting married during the summer in wine country at a beautiful chateau and you want to insure everything, be prepared to pay more. Regardless of what type of event you’re putting together though, being insured can give you peace of mind (something particularly important at this time of your life).
What Could Go Wrong?
You may be absolutely certain that you and your beloved won’t change your minds about getting married, but this type of cancelation isn’t the intended purpose for wedding insurance. It was created for scenarios out of your control — things like a close family member becoming gravely ill, your venue getting battered by mother nature, or major players in your big day (DJ’s, caterers, etc.) pulling a no-call no-show on you.
Don’t let hidden wedding costs sneak up on you if you can avoid them! Budgeting them in now will help you in the long run.
That’s not all either. One of your wedding suppliers could go out of business prior to the date. Or if you or your fiancée are in the military, deployment might throw a big wrench into your plans. Even the truck delivering the floral displays could be involved in an accident en route to the venue, or essential wedding attire (like rings and other accoutrements) could get stolen.
The beauty of having wedding insurance is that if something unexpected happens, you won’t have to give up the big day you’ve dreamed about your entire life. You won’t have to appear before the justice of peace in a stark courthouse because the majority of the money designated for your big day was lost. This type of insurance ensures that your dreams can still come true, just not necessarily on the originally planned date.
Did you purchase wedding insurance for your big day? Or do you have any recommendations for our readers? Comments are always welcome! And be sure to drop by our Facebook and Pinterest pages if you’re looking for more wedding inspiration and fashion tips — we are constantly updating them with fresh content for you to enjoy!