There are several types of insurance. Among them is wedding insurance. What is wedding insurance? What does wedding insurance cover? What are the types of wedding insurance? How much does wedding insurance cost? In this article, you will get answers to these and some other questions.

What Is Wedding Insurance? 

Wedding insurance is a financial contract that protects you from financial loss if your wedding day is canceled or something happens outside of your control.

Like all other insurances (apartment, home, car, health, and life insurance) that are paid in advance, this insurance is paid similarly. If there is any damage, the insurance is paid out.  However, if you don't buy the insurance ahead of time and something goes wrong, it is too late.

Your wedding is maybe one of the most significant days in your life. It can also be quite expensive to get all the details lined up and many of these items are non-refundable.  Wedding insurance can protect you if things go wrong.
 

What Does Wedding Insurance Cover?

What wedding insurance covers depends on the insurance company's policy, but generally speaking the following are covered:

• wedding venue
• vendors
• wedding items / rentals
• illness or injury before or during the wedding day

Each of the mentioned items has a certain amount up to which it can be insured, and a deductible is also applied.

All types of insurance vary not only from company to company but also from state to state.

Every wedding company has items they usually offer coverage for:

• Venue - wedding insurance can cover costs arising from unavoidable cancellations such as damage or inaccessibility to the venue due to fire or power outages. Sometimes this policy also covers the venue for the rehearsal dinner.
   
• Weather - extreme weather conditions and natural disasters such as earthquakes, hurricanes, and fires that prevent the newlyweds and guests from reaching the premises where the wedding will take place. Insurance can cover wedding delays and all the details involved, including ceremony flowers, tent hire, and reception food. A wedding insurance policy covering weather events must be purchased 14 days before the wedding.
   
• Vendor no-show - what if one of the key people at the wedding such as the caterer or officiant does not show up? In this case, the insurance policy covers the cancellation or postponement of the wedding, including deposits paid to vendors who do not fulfill their contractual obligations.
   
• Sudden illness or injury - wedding insurance can cover sudden illness, injury, or death for the couple and immediate family members such as parents, siblings, and grandparents. This insurance does not cover pre-existing health conditions, so it would be best to discuss this with your insurance agent.
   
• Wedding gifts - some insurance policies cover damaged or stolen gifts up to the amount of the lost value.

What does the insurance policy not cover? One big one they do not cover is if you or your partner decide to cancel the wedding due to a change of heart. It does not cover the purchase of an engagement ring, but it may cover the purchase of a wedding band.
 

Types of Wedding Insurance

There are two main types of wedding insurance. They cover different things.

1) Wedding liability insurance

This type of insurance protects you if the wedding venue is damaged, a guest is injured, or an alcohol-related incident occurs. If the wedding venue does not have its insurance this insurance is necessary, as you do not want to be responsible for any accidents at the wedding, especially if alcohol is served. Rehearsal dinners are not always covered by this insurance, but can sometimes be added to a wedding venue insurance policy.

2) Wedding cancellation insurance

Wedding cancellations and postponements protect your investment in the event, covering cancellations or postponements, lost deposits, and more.

If you are forced to postpone your wedding due to bad weather, it will cover all the costs of your wedding. This insurance can also cover the sudden illness of a close family member or the non-appearance of a caterer.
 

Wedding Insurance Cost 

The price of wedding insurance can vary depending on the provider of the event location and the amount of coverage you want. The basic insurance policy ranges from $75 to $550. General liability insurance depends on the defense of the limit of liability which usually covers up to $1 million for accidents and costs about $185.

Event cancellation coverage is based on the cost of the wedding the couple wants to protect. Couples should choose the level of coverage based on their wedding budget. Wedding insurance costs can vary due to several factors, before taking out wedding insurance choose the one that suits you best.
 

Is Wedding Insurance Worth It? 

It is worth taking out wedding insurance because you will relieve yourself of the stress if there is sudden inclement weather, damage to the facility where the wedding is taking place, or a delay by the supplier. Wedding insurance can cover those costs that are out of your control. Depending on your budget for your wedding it may only be 5% of the overall cost, which might be worth considering.
 

Scenarios to Help You Decide 

For example, if you plan to hold a wedding in an area where hurricanes occur this might not be a bad idea. It is necessary to take out wedding insurance if a hurricane occurs during the period when the wedding is to take place. The main reason for this is that wedding insurance will cover any expenses that you paid for that were ruined by the hurricane.
 

How Close to the Wedding Can You Get Insurance?

A wedding insurance policy should be taken out when you start planning your wedding. If you happen to have hired some wedding services, and some of those services are canceled shortly before the wedding, you will lose the money you paid for that service, because you did not have wedding insurance.
 

Wedding Insurance Tips

Tips that every couple could use are:

• to take time to make a decision, and get multiple quotes so you can find the one with the best price that matches your needs
• ask people who have already used this type of insurance for a recommendation
• check existing insurance providers because your agent may be able to offer this with a loyalty discount
   

Conclusion: A wedding insurance policy is very useful if you want to cover expenses that may happen outside of your control. It is up to you to choose which wedding insurance policy to take out.