Wedding Insurance: Insuring the Big Day

By Michele Blandino

To say that weddings are a big business doesn’t come even close to describing the enormity of the wedding industry.

Event planners, caterers, the perfect dress, and recording the entire affair on video and photographs are just some of the things that need to be done – and paid for – in the months and weeks preceding the actual nuptials. And, when all is said and done, many people spend $20,000 or more on the “perfect” wedding.

What it Covers

With such large expenditures being made for a single day, it’s no wonder that many people are choosing wedding insurance as a way to protect their investment. Wedding insurance can help minimize financial loss for unexpected calamities such as the unexpected illness or death of the bride, groom or an immediate member of their family, severe weather such as a crippling snowstorm or hurricane, or even military deployment. Wedding insurance can also be purchased to protect you in the event a vendor with whom you have contracted goes out of business before the big day. In the event the photographer you hired to photograph your wedding loses or damages the film before it is developed, your coverage may help to cover the costs of reassembling your wedding party to retake the photographs.

It is important to point out that wedding insurance does not cover weddings that are cancelled due to a change of heart by the bride or groom.

How it Works

Wedding insurance can typically be purchased by making a single telephone call or by completing a brief online application. To ensure maximum coverage, the insurance should be purchased before any deposits are made. While the specific rules vary among insurance carriers, coverage cannot be purchased for a wedding taking place more than 24 months or less than 14 days from the date the contract is signed.

What it Costs

When you consider how inexpensive wedding insurance is, it’s surprising that more people don’t take advantage of the protection it offers. While the cost will vary among carriers, insurance for a wedding costing $25,000 will be about $200. 

Where to Buy

While you can inquire with your insurance carrier about wedding insurance, there are companies that specialize in this type of coverage. The one that seems to be most reputable is WedSafe, a subsidiary of The Markel American Insurance Company. WedSafe writes over $2.5 million in policies each year, a figure that is steadily increasing. The Wedsafe website is full of information that can help you understand the pros and cons of purchasing this type of coverage. Be sure to read this information thoroughly before making your purchase.