Who Needs Wedding Cancellation Insurance?
Should you include wedding cancellation insurance in with your wedding budget? Nobody plans a wedding with the thought that it might have to be cancelled or postponed, but there is always that slim possibility. Then what happens to all the money you’ve spent? Do you get it all back if the wedding has to be postponed?
Your Deposits
The deposits you make to your vendors are typically non-refundable deposits, but if the date of the wedding has to be moved, as long as it is done well in advance and that vendor has that date open, they will probably be able to move with you. However, if the wedding has to be postponed at the last minute due to an illness or sudden death, the officiant doesn’t show up, or the bride or groom gets called up to serve overseas in the armed forces, then you will lose all of those non-refundable deposits, and then some.
Wedding cancellation will cover almost any unforeseen thing that can cause a wedding to be cancelled or postponed. This does include weather problems, and with some policies even the no-show of a major vendor like the caterer. What isn’t typically covered is the bride or groom backing out of the wedding suddenly. However, some policies will cover change of heart if the party who backed out was not the party (or daughter or son of the party) who paid for the wedding and holds the insurance. Hey, it’s not the father of the bride’s fault if the groom ran off with the stripper from his bachelor party. Why should he be ousted out of all of that money he spent? He’s going to have it hard enough placating his daughter.
Rescheduling Costs
Rescheduling a wedding can be more costly as scheduling the wedding in the first place. When a wedding is scheduled a year or more in advance, deposits are much lower than when a wedding has to be rescheduled at the last minute. If the wedding had to be rescheduled for any of the reasons stated above, wedding cancellation insurance will cover these additional costs.
One of the other things that wedding insurance can cover are photographs and videos when the film is lost or damaged, or just simply unacceptable in quality. Wedding insurance can pay for the entire wedding party to reassemble, more flowers to be ordered, and even formal wear rentals to reshoot the photos.
Many wedding planners are now requiring wedding cancellation insurance in order to work with a couple. Many reception halls are also requiring wedding liability insurance, which can be bundled with the cancellation insurance. The liability insurance protects them against people who have had too much to drink, and the things they can do at wedding receptions. It also covers other reception mishaps, too.
With wedding cancellation and liability insurance, you can protect yourself from lawsuits from wedding mishaps, as well as protect your investment. Wedding cancellation insurance is not expensive and should be at the top of every wedding budget.
References:
Your Wedding Place; Wedding Insurance – Protect Your Investment In The Biggest Day Of Your Live
MSN Money; Should You Insure Your Wedding?
WedSafe; Wedding Cancellation Insurance – Cancellation/Postponement Plus