Event Insurance For Wedding - Do You Have to Buy Wedding Insurance? Actually, You Might.
Do you have to buy wedding insurance? Actually, it’s not a choice in some cases, but a requirement by some wedding planners and reception halls that you at least have cancellation and/or wedding liability insurance. It’s also not a bad idea even if it’s not required to buy wedding insurance to some degree. Wedding insurance plans can be tailor made to fit your needs, so some shopping is definitely in need.
Wedding Cancellation Insurance
Wedding cancellation insurance is becoming more and more a requirement by wedding planners who have too often gotten trapped without a wedding at the last minute. Weddings can be cancelled for a number of reasons. It’s not always about cold feet, which usually is not covered by wedding cancellation insurance anyway.
Some wedding insurance policies are offering change of heart insurance, but only the person is covered if the change of heart is not their own. For example, if the father of the bride put out $30 grand for his baby girl’s wedding and the groom doesn’t show up, he can be covered. But if the bride runs away, he’s out of luck.
Natural disasters can postpone a wedding at the last minute and there is nothing that can be done about it. Some other things that can force the postponement of a wedding are illnesses and death of vital members of the wedding party or close family members of the bride or groom. Wedding cancellation insurance can cover these postponement expenses. Some wedding insurance policies will even cover a postponement if the caterer backs out at the last minute, or the reception hall suddenly closes shop just before your wedding day.
Wedding Liability Insurance
Wedding liability insurance is similar to any other liability insurance in that it covers damage and injuries that can happen during a wedding. Many reception halls are requiring that the couple prove at least $1 million in liability insurance before they will even book the hall to them. This is because they have had wedding receptions there before and know how an open bar or spiked punch can cause things to get out of hand. They might already have insurance, and you should check on this before you buy wedding insurance. But even if they do have insurance, they may still require each wedding party to carry their own so that their insurance doesn’t go up as a result of a reception mishap.
While wedding insurance for cancellations and liability might be required in some cases, it is not a requirement in many. As a matter of fact, only about 1% of people getting married buy wedding insurance. There are different insurance packages that can cover all sorts of wedding needs, from a ripped dress to a death in the family to Aunt Lucy getting her stiletto heel caught in Uncle Martin’s pant cuff and breaking her ankle.
It really is a good idea to buy wedding insurance, even if it isn’t required. The cost is only about 2% or so of the total cost of the wedding. Imagine if the wedding has to be postponed and you didn’t buy wedding insurance. You would have to start all over again. Isn’t it better to spend 2% to buy wedding insurance now than spend 100% later to redo the wedding?
References:
MSNBC: Business; Wedding insurance: Calamities – and cold feet
WedAlert.com; Wedding Insurance: What It Is…And What It Is Not
Suite 101; Before You Buy Wedding Insurance