- Booked the venue.
- Ordered invitations.
- Bought the rings.
- Decided on a photographer.
- Said “yes” to the dress.
- Purchased wedding insurance.
What do you mean by wedding insurance? I don’t even know what this is. Do I need wedding insurance?
Most weddings are so much bigger than they used to be – memorable events that mark one of the most important days of your life.
No longer do couples head to the church for a traditional service followed by a simple cake and punch reception.
Today, couples book expensive venues, plan destination weddings, hire caterers, photographers, limo services, and so much more.
Wedding insurance provides added protection if the unexpected should happen related to your big day.
Whether it’s a damaged dress, a vendor that goes out of business before your wedding, or the need to postpone, wedding insurance offers financial coverage for several aspects of your wedding day.
Many couples buy wedding insurance to provide added protection and peace of mind surrounding their big day. And some buy it because a vendor requires it.
Either way, if you are like many of our customers, you have questions about this insurance.
So, you’ve come to the right place.
This one-stop guide provides you with answers to the most asked questions about wedding insurance – questions about coverage amounts, exclusions, and costs. In this article, we talk about:
- The Venue
- The Dress
- The Flowers
- The Photographer
- The Gifts
- The Rings
- Cancellation or Postponement
- Other Vendors
- Wedding Insurance Costs
1. The Venue
When you buy wedding insurance, coverage is included for your venue. But what exactly does that cover? Deposits for cancellation? Damage to the building? Great questions!
Do I have coverage if our venue closes or cancels our event?
Yes. If, for some reason, your venue can not or will not hold your wedding after you have already paid your deposit, you can purchase up to $2,000 in coverage.
This coverage will kick in if your venue goes out of business or needs to shut down unexpectedly.
Do I have coverage if one of my guests causes damage to our venue?
No. With a wedding insurance policy, you do not have damage coverage. To put this coverage in place, you would need to purchase a special events policy or a liquor liability policy.
2. The Dress
What if something happens to my dress? Is it covered?
Yes. Special wedding attire does have some coverage through your wedding insurance policy.
For instance, if you are traveling to a special destination for your wedding and the airline loses or damages your wedding dress or tuxedo, your policy will include coverage up to $2,500 for your special wedding attire.
This coverage will no longer be in place after your wedding. So, if your wedding attire is lost on your return trip, it won’t be covered by your policy.
3. The Flowers
Flowers are expensive. Is there coverage for our flowers?
With a wedding insurance policy, you will have coverage for your vendors.
This means that if you give a deposit to a vendor, and then for some reason, they fail to fulfill their contract and don’t return your deposit, your insurance policy will pay your deposit back to you.
So, if your florist cancels your order but doesn’t return your deposit, the insurance company can reimburse you for the lost deposit.
What this does not cover is your dissatisfaction with your flowers.
If your florist doesn’t bring exactly what you ordered, or if the flowers are not of the quality you were expecting, you won’t have any coverage for that.
4. The Photographer
What if our pictures just don’t turn out? Are they covered?
Depending on the policy you purchase, you can have coverage up to $2,500 if your pictures don’t turn out right.
So, if your photographer’s film is defective or negatives lost or damaged, or if your pictures are overexposed, you can file a claim to be reimbursed what you paid your photographer.
5. The Gifts
What happens if my gifts get damaged or lost?
You have coverage!
Coverage for your gifts is in place during your wedding or reception. If your gifts are damaged while on display at your reception, your policy will cover the replacement of those gifts. If your gifts are dropped on the way to the car, you will have coverage.
Your wedding insurance policy will offer coverage up to $2,000 for the repair or replacement of gifts damaged at your wedding.
However, once you leave the venue, you will no longer have coverage. So, if you drop your gifts on the way into your home after your wedding, you will not have coverage.
6. The Rings
What about our rings? Are they covered?
In terms of rings, your wedding insurance policy will have coverage up to $2,000. If your wedding band is lost or damaged before your event, your insurance policy will cover the loss. If your ring bearer loses your ring while walking down the aisle, you’ll have coverage.
Your wedding insurance policy will not cover your engagement ring, however. This coverage is only for the rings you will exchange on the day of your wedding.
7. Cancellation or Postponement
What if we have to cancel? Can we get our money back?
There are many reasons couples have to cancel or postpone their wedding. Your policy will cover the cost to reimburse you for any lost deposits due to a cancellation or postponement.
You will have coverage if:
- The venue goes out business
- The bride, the groom, their parents, honorees, grandparents, or children have a sudden illness
- You need to change the date of your wedding due to deployment or work-related issues
8. COVID Coverage
What if something happens because of COVID? What if someone gets sick? What if there are mandated closures?
If your wedding is canceled or postponed due to COVID, you will not likely have coverage.
Each insurance company determines what will or will not be covered by a policy. And with the onset of government-mandated shutdowns, most insurance companies will not cover losses due to COVID shutdowns or COVID-related issues.
For instance, this is the stance that Travelers Insurance has taken on COVID and their wedding insurance policies. They state,
“Coverage will not be afforded in any way for such circumstances related to COVID.
‘This includes, but is not limited to:
- Illness to honorees and immediate family members
- Illness to vendors associated with the event
- Fear or risk of illness or contracting any virus or disease
- Closure of venues due to localized COVID-19 outbreaks
- Limitations on the number of people allowed to gather or other social distancing guidance
- Cancellation / Postponement of the Event due to Government shutdowns
- Loss of deposits due to transportation delays or cancellations
- Cancellations or delays of the Event due to concerns with COVID-19 outbreaks disrupting timelines
- Other impacts directly or indirectly related to COVID-19 circumstances’”
It is important to note that you will not have coverage for mishaps related to COVID.
9. Other Vendors
What else might be covered by my wedding insurance policy?
Any vendor that you hire as part of your big day will be covered up to $2,000. This includes van or limo services, photographers, caterers, etc., that go out of business, declare bankruptcy, or just don’t show up for your event.
How much will wedding insurance cost?
With wedding insurance, you typically have the choice between different insurance packages that the insurance company offers.
For instance, Travelers Insurance offers three tiers of coverage for wedding insurance. Here’s what you would pay and the amount of coverage provided by each tier.
|Level 1||Level 2||Level 3|
What if I don’t buy wedding insurance?
Wedding insurance is not something that everyone chooses to purchase. But, as is with all other kinds of insurance products, if you decide not to buy them, you will be self-insuring your big day. You just need to be prepared to pay out of pocket for any expenses related to the costs listed above.
So, if your photographer cancels on you two weeks before your wedding and refuses to return your deposit, you will have to find a new photographer and pay whatever it is they require. You may have to pay a higher rate for the late notice, and you may have to pay another deposit for your new photographer.
What if my venue is requiring me to buy an insurance policy?
If your venue is requiring insurance, they most likely expect you to purchase a special events policy. Special event insurance is slightly different from wedding insurance because it included coverage for damages to the venue.
The costs and coverages of special events insurance are a little different from wedding insurance.
Sometimes a special events policy may be a little less expensive because it may not include coverage for your wedding attire or rings. It also may not cover deposits made to other vendors.
Other times special events insurance policies cost more than wedding insurance. These special events policies include most of the coverages you get in a wedding insurance policy, like coverage for your attire, gifts, and vendors. This policy will also add coverage for damage to the venue.
And if you are serving any alcohol at your reception, your venue will require a policy that includes liquor liability.
What does liquor liability cover?
Liquor liability provides additional coverage for an event where alcohol is being served.
A requirement for adding this to your policy is hiring certified bartenders to serve up any alcoholic drinks. You can also get this coverage if the venue you are using already has a liquor service in place.
Liquor liability protects you and your venue if one of your guests causes an accident due to their alcohol consumption at your event. Here are a few examples of when you might need this.
Let’s say that one of your guests drinks a little too much at your reception. After stumbling through your venue’s lobby, she knocks over a decorative table and damages some furniture, and leaves a huge knick in the lobby’s tile flooring. Your liquor liability insurance will kick in and cover the damage she caused.
Or let’s imagine that one of your guests leaves your event and chooses to drive under the influence. Causing an accident on the way home, your guest knocks down a telephone pole and hits another car. If your guest causes physical damage or injures someone else, your liquor liability policy could protect you in the event of a lawsuit.
How do I buy this coverage?
Unless your venue requires wedding or event insurance, this decision to buy wedding insurance is really up to you. You are choosing between self-insuring your dress, your gifts, your rings, and deposits you make to the venue or vendor or allowing an insurance company to cover those things.
Wedding insurance is a relatively inexpensive insurance product that provides a lot of coverage. If you value knowing that you have coverage if something goes wrong, then wedding insurance is probably a good decision for you.
You may feel that paying $160 for an insurance policy instead of $2,000 for another wedding dress because yours didn’t arrive at the airport when you traveled to your destination dream wedding is worth it! This may be the kind of protection you want in place.
Your independent insurance agent will guide you to the best company to write your wedding insurance policy. They can price out your policy with multiple companies to find the most competitive rate.
At Baily Insurance Agency, we listen to our clients. Before we sell any policy, we spend time learning what is important to you!
We understand that the needs and desires of each client are unique.
Insurance is not a one-size-fits-all product!
If you want to talk with someone as you consider whether wedding insurance is right for you or what coverages you need to put in place, please give us a call!
We’d be happy to help you sort through your needs (and we’d love to hear the details of your big day!)
Just call us today!