Wedding Insurance: What It Covers And What It Doesn't

According to The Knot, the average wedding costs a pretty little penny in today's modern world. In fact, it costs as much as a brand new car (depending on what car model and make you purchase) at $31,213. Weddings will often cost more in large, metropolitan city areas than they do in small, rural areas. Plus, the colors, types of flowers, number of guests, types of food served and a variety of other factors will weigh heavily in the cost of a wedding. With the average cost of a wedding being over $30,000, it would be a shame for something to happen that causes your wedding to be postponed or cancelled. Here is a brief look at what the right type of wedding insurance policy will cover and what it won't cover:

What Wedding Insurance Typically Covers

  • Cancellation or Postponement – An example of this would be if your wedding was cancelled due last-minute unavailability of the planned venue, such as due to a fire or similar incident. The insurance would cover the postponement of the wedding until a new venue can be found or the cancellation of the event completely.
  • Key Individuals – An example of this would be if your father was in an accident and unable to attend the wedding or the best man is deployed overseas for military duty. The insurance would cover to postpone the event.
  • Vendors – An example of this would be if a caterer or official cancels on you or fails to show up at your wedding. The insurance would likely cover the expenses needed to pay for a new vendor or official.

What Wedding Insurance Generally Will Not Cover

  • Change of Heart – If you or your soon-to-be-spouse decides at the last minute that the marriage is off, the insurance won't cover it.
  • Lack of Adequate Funds – If something happens and you are unable to fully pay for the wedding venue, the insurance won't cover it. The only way it might is if you were involuntarily unemployed.
  • Some Weather Conditions – If it is raining on the day of your wedding, it is unlikely to be enough to cancel the event and seek reimbursement with your policy. In order for this to be covered, the majority of the key persons in the wedding or the wedding guests would likely have to be unable to show up.

If you are a planning a wedding, it is critical that you have wedding insurance or event cancellation insurance for the event. These policies are specifically designed to help you in your time of need when something happens beyond your immediate control. Contact a local insurance agency, such as Jimmy Fisher State Farm Ins, for assistance in drafting a special events insurance coverage policy to ensure your event doesn't turn into a financial disaster.