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Insuring a home or car is not even a second thought for most of us. So why not insure something that can cost just as much? Given the rising costs of weddings and the fact that absolutely everything must be perfect, it might make sense to buy yourself some peace of mind and insure your wedding.

What is it?
Wedding insurance, just like home or car insurance, is designed to protect your investment from unforeseen circumstances. If a hurricane prevents your guests from showing up, the bridal boutique goes out of business before the dress is finished, or a power outage closes the reception hall, insurance may cover you for all of the money you have spent. Sure, it may seem like there is a slim chance of any of these things ruining the perfect day, but then again, what's the chance of your house being hit by lightning? Insurance can also cover some more believable scenarios such as the photographer not showing up or having all of the film ruined. Most people think of the wedding day as a one-shot deal, with the slightest hitch being a possible disaster. Wedding insurance might give you another chance if things don't go right.

What does it cover?
Insurance covers a variety things that we depend on for the perfect wedding such as weather, the key people, gowns, and rings. Plans vary and you need to make sure you know the details of your plan. Here's a sample of some of the major items that insurance companies cover:

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  • Cancellation costs
    Provides coverage for any costs you may incur due to an unforeseen cancellation of the wedding. Lets assume that a hurricane swoops in and cuts off the celebration, or your reception hall burns down or goes out of business right before the wedding. With the right insurance, the couple can postpone their wedding until another day and be covered for expenses such as the cake, the invitations, the caterers and the flowers to name a few.

  • Vendors
    If essential people such as caterers fail to show up on the day, insurance can cover the cost of postponing the wedding.

  • Illness or Injury
    Insurance may cover postponement in the event that the bride, groom or anyone essential to the wedding is unable to attend due to unforeseen illness or injury.

  • Wedding Photographs and Videos
    If the film is ruined or the photographer does not turn up, you may be covered to get another photographer and/or reconvene the wedding on another day.

  • Wedding Attire
    If the bride's gown or the groom's tux is accidentally ruined before the big day, you can get a replacement and the insurance will pay for it.

  • Wedding Presents
    If any of your gifts are damaged, or worse yet, stolen, you can be covered. Be sure to check the policy carefully on this point as there may be a time limit to the coverage, such as a maximum of 7 days after the wedding. And, if you have your wedding at home, your home owner's insurance may cover some of the costs.

  • Wedding Rings
    If the best man shows up without the ring, the policy will cover the insured value of the rings if they are lost or damaged.

  • General Liability
    This covers personal injury or damage to property resulting from accident that occurs at the wedding.

What it does not cover
  • Change of heart
    If you're left standing at the altar, insurance won't pay for this unforeseen circumstance.

How much
Prices range from around $125 up to approximately $400 depending on the amount of coverage you need. WedSafe offers four different packages starting at $128 with the most expensive policy being $339. Each package covers certain items up to a maximum amount. As always, shop around and find the best insurance company and policy to suit your needs.

Things to know
Don't wait until the rehearsal dinner to talk about insurance. If you are considering wedding insurance, most companies recommend that you take out a policy as soon as you start to incur costs. Some companies require a minimum time frame to take out a policy such as two weeks before the wedding.

Every wedding is unique and every insurance policy is different. Make sure you know the facts and do your homework. Have your insurance agent explain every detail to you and make sure you completely understand your policy before you make a commitment.

Check out the archives for more great stories.

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