Do You Need Wedding Insurance?

What is the worst thing that could happen on your big day? A bit of rain? A bad hair day?  A late bridesmaid or two? How about a hurricane? Bride Erica Sternin Weiss planned on having a beautiful waterfront wedding in New Rochelle, New York; she hadn’t planned on inviting Irene, but the hurricane showed up anyway. Thousands of weddings were planned for the region affected by Hurricane Irene, and many had to be cancelled or postponed. Mother Nature does not stop for love; what does this mean for the bride and groom – and the budget?

In Erica’s situation, her venue called to notify her that it was being forced to close by the county just a day before her planned nuptials. By that point, most couples have paid for most of their wedding. In addition to the venue fees, couples have paid for or paid a deposit for everything from the caterers and photographers to the florists and musicians. When a venue is closed or a wedding must be postponed, the couple may lose thousands in nonrefundable deposits. Worse, they may not be able to find a suitable replacement because so many venues book a year or more in advance for the “good” days (Friday, Saturday, and Sunday). Erica and her groom ended up transforming their rehearsal dinner into a rather impromptu wedding to mitigate the financial loss and to allow a portion of their guests to attend.

In cases like this, wedding or event insurance certainly makes sense. Most people do not opt to undertake this added expense, but it can be an incredible money-saver if something unexpected happens. What options are available to the bride and groom? Each company will have its own specific policies, but in general, you will find two broad categories:

• Event cancellation or postponement. With this type of coverage, you can recoup money lost in case of severe weather, illness, or other events that will derail a wedding. If your wedding proceeds, but a vendor does not show up (ie: a missing photographer) or an adorable toddler gets grape jelly all over your wedding gown, your policy should cover that as well. Make sure to ask about specifics so you are prepared – and covered – for every eventuality.
• Liability.  If Aunt Mildred trips on the church steps and falls, it would be a shame if she sued you on your wedding day. Liability insurance covers you in the event of alcohol-related accidents, property damage, or bodily injury. Some venues require you to purchase liability insurance, so this is a practical choice.

You never know what the future, or your wedding day, will bring. With event insurance, you can at least be prepared, and compensated, if things do not go your way.