People spend thousands of dollars on their weddings. Much of what they spend is in the way of deposits and is non-returnable. The money is paid upfront with the intent to hold the venue or ensure what is ordered is delivered on time. Couples can purchase two types of insurance. Event cancellation coverage protects you if your wedding is cancelled. Event liability coverage covers property damage and personal liability damage as well.
If you need to postpone your wedding due to an unforeseen event like a serious illness, death in the family, or immediate military deployment, wedding insurance will reimburse you for lost deposits and payments that were non-returnable.
If any damage is caused to the venue or equipment that is rented for your venue, your event liability insurance will cover it. Event liability insurance will also cover any injuries your guests may receive as well.
If your venue goes out of business and will not return your deposit, your event cancellation insurance can help. The same is true if it is damaged due to a storm or has water or electrical issues. Most venues will work with other locations to offer a backup if needed.
Event insurance may cover a destination wedding depending on where it is going to be held. Many destinations are covered across the globe. You will need to talk to your insurance agent to ensure that your destination is on the list.
If the same event that postponed your wedding also postpones or affects your honeymoon, your event insurance may cover the lost expenses associated with the trip. However, if you have the wedding but postpone the honeymoon, the trip won't be covered.
Both event cancellation and event liability coverage have limits. This limit on the policy is the maximum amount of money you can recover if you file a claim. You will also have to pay your deductible before you can be reimbursed.
If you or your significant other decide to call the wedding off due to last-minute jitters or you just aren't ready, your insurance won't cover your losses. It also won't cover any third-party costs that aren't associated with the venue.
Most people look for wedding insurance coverage when they start to pay the deposits for their high-ticket items like the venue, photographer, and wedding dress. A good rule of thumb is to buy your wedding insurance approximately 18 months to a year prior to your actual wedding date.
Weddings are one of the biggest things you will ever have to pay for other than a home or vehicle. If you have any questions or concerns about wedding insurance, contact us today. Our agents at Kneller Insurance Agency can help you determine what type of wedding insurance is best for you and your future spouse.
