It’s not until you are engaged that you truly realize all that goes into making a wedding great. Before you know it, the cost of a wedding can skyrocket. Have you ever thought about what would happen if an unforeseen event happened and cost you a lot of time and money? What if a storm wiped out the venue? What if the photographer didn’t show up? That’s where wedding insurance can be a big help. What is wedding insurance? It is an insurance policy that covers these uncontrollable circumstances.
There are a few things you will need to understand, so keep reading.
How Much Does Wedding Insurance Cost?
After you learn what is wedding insurance, the next thing you probably want to know is how much does wedding insurance cost. Obviously, the price of a wedding insurance policy will vary based on where you live, what you want to insurance, and the insurance company, but you can find policies for under $100. If your wedding is going to be pricey, the cost still probably won’t go over $1000.
Is Wedding Insurance Necessary?
Something to consider before you buy a wedding insurance policy is if the vendors you hired have their own insurance. You don’t want to pay for something that is already covered by another party.
Ask your church, reception site, caterer, photographer, etc. if they have their own insurance, and if they do, ask if you can see a copy of their policy. Don’t just take their word for it. Make sure you know exactly what is covered and what isn’t.
If there is something left uncovered that is very important to you, then consider buying a wedding insurance plan.
When To Buy Wedding Insurance?
Like most things wedding related, when you are learning what is wedding insurance, if you decide to go ahead and purchase a policy, the sooner you buy it the better. You are most likely booking things like a reception site and photographer 6-12 months in advance, which is a lot of time for something catastrophic to happen. If you have a wedding insurance plan and your reception hall blows away in a tornado 3 months before the wedding, the insurance plan will probably pay for your deposit or any other money you have already put down.
Check with various wedding insurance companies so that you know their limitations on how far in advance you can purchase a policy.
What Does Wedding Insurance Cover?
The best wedding insurance will cover as much as possible at the lowest price possible. Unfortunately, a big sticker doesn’t come and tell you which policy is the best.
There are many different problems that can occur during wedding preparations. The site can have problems, you can have bad weather, vendors can cancel at the last minute, and important people can get injured or sick. All of these things can be covered by a wedding insurance policy.
Each policy is different, and insurance companies will usually cover up to a specified amount of financial amount for each potential loss. Know these details before you sign a wedding insurance contract.
What is Wedding Insurance – Other Things to Think About
Before you buy a policy, make sure to compare wedding insurance plans. If you aren’t sure you want to do it yourself, you can find an agent that will help you out.
Please keep in mind that wedding insurance typically doesn’t cover the inability to pay for wedding services. If you lose your job, insurance usually won’t cover this.
Additionally, wedding insurance won’t cover a break up. If your engagement falls apart, your policy probably won’t cover it. If you don’t think you’ll make it to the aisle, then wedding insurance isn’t for you.
There is a lot to learn when getting married, and learning what is wedding insurance is important. Look into it, compare wedding insurance plans, and buy a policy if it will help. Good luck!