Imagine this…. You put your life savings into your wedding day. You have pinned, planned, and prepped every single amazing aspect of your day. You are one month away from saying “I do” when an unprecedented global pandemic changes the way we live. Large gatherings are banned, venues are forced to close, air travel is limited and for some of the most cherished people in our lives, it is just not safe to leave home. Sound familiar?
Let’s face it, we hate to associate anything negative or unpredictable with a wedding. But sadly, so many couples are currently dealing with this exact situation. In truth there will always be possible pitfalls that can prevent even the most planned event from taking place. So, whether it be a global pandemic (cringe), an arctic blizzard, or an injured maid of honor; now seems like a better time than any to chat about wedding insurance.
What is Wedding Insurance?
To put it simply, wedding insurance protects you…and your bank account from losses that may happen due to any unforeseen events that may cause damage, illness or injury at a wedding and any external events (beyond your control) that could potentially cause a postponement or cancellation.
What is Covered Under a Wedding Insurance Policy?
While most insurance companies will not cover a “change of heart” scenario, they will offer liability and postponement or cancellation policies. Liability insurance will help you recover from vendor no-shows, damages caused by you or a wedding guest to your venue, and injuries or illness that occurred because of your wedding.
Wedding insurance can also cover postponement or cancellation; this will cover costs if the wedding is cancelled or postponed due to extreme weather, illness or injury to a key participant in the wedding, a global pandemic (sigh) or other forces beyond your control.
Be sure to read the fine print though! Since the beginning of 2020 many insurance companies have changed what their force majeure (Act of God) clauses will cover and, you guessed it, most have stopped new policy coverage for global pandemics.
So, Do I Need It?
Only you and your fiancé will know if wedding insurance is something you want to purchase. We highly suggest chatting with your wedding planner (they have literally seen it all) and checking what policies and coverage your venue and vendors have before making your decision. Often, this decision will be made for you as most wedding venues do require some sort of coverage. Don’t panic! Most insurance policies can be purchased for about $150 or even less if you are able to purchase it through your homeowner’s insurance.
If for whatever reason insurance is not required by your venue, but you are nervous about leaving your large wedding purchases in the hands of uncertainty, then getting wedding insurance is a great way to put your mind at ease.
Unfortunately, most of us are in the mindset that just about anything can happen after what we have experienced these last seven months. Feeling secure and financially protecting yourself and your wedding day investments, may just be the ticket to calm all those wedding (and everyday life) jitters.