Should You Get Wedding Insurance?
A variety of unexpected circumstances can occur when weddings are planned and an increasing number of people are investing in wedding insurance, sometimes called special event insurance. The cost of nuptials is rising every year and weddings costing $30,000 or more aren’t uncommon. You’ll typically have two types of wedding insurance options from which to choose.
Event Cancellation
The policy provides protection in the event that weather prevents a majority of your guests from attending and power outages caused by storms. If the bride or groom are called for military deployment, you’re covered.
The policy would reimburse you for the cost of food, deposits and other types of refundable costs during a power outage The insurance may cover the cost of photographers, videographers and DJs, along with damaged, lost or stolen wedding gifts. You may receive reimbursement for attire and rings.
You may also be able to recoup honeymoon costs if the wedding is cancelled or postponed due to illness. Even if you actually get married, some policies cover costs associated with rescheduling the honeymoon for things like booking fees, hotels, and airline change costs.
Special Event Liability
Despite the best of intentions, damage may be inflicted on a venue or someone may be injured. Special event liability insurance has you covered, but there are some exceptions. Coverage is typically limited to a 24- or 48-hour window and ends when the reception is over. Each policy is different. Read your policy carefully to understand all the limitations and exclusions.
What’s Not Covered
Cake or flower mix-ups, vendors that go out of business, or weddings that are cancelled because you change your mind aren’t covered. Damage to equipment rented from a venue is covered, but equipment rented from an outside company isn’t.
Medical expenses and baggage theft during the honeymoon aren’t covered under the policy. If you become ill after the wedding and have to cancel the honeymoon, you won’t be covered and will be liable for all the fees and costs associated with the honeymoon.
Considerations
If you’re having a small wedding or aren’t planning a destination wedding or honeymoon, wedding insurance may not be worth the cost. It’s important to explore options, understand the restrictions, the last day it can be purchased prior to the wedding, and deadlines for cancelling any policy you buy.
For more information about how The Sena Group can help you with any
of your insurance needs, please contact us at 561-391-4661.
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The Sena Group
6501 Congress Ave., Ste. 100
Boca Raton, FL 33487
