No one wants to think that something could go wrong when it comes to their wedding, but things happen. A serious fire could shut down your baker's shop just one week before the wedding, and hiring a last-minute replacement will cost twice as much, for example. If you have wedding insurance, the extra expense should be covered and you'll get reimbursed. What happens if a guest takes a fall during the reception? Your wedding insurance will protect the hosts from being liable if the person is injured and sues. Some policies will also reimburse you when a wedding is cancelled or postponed at the last minute. Here's a rundown of some basic facts about these important policies.
Who needs it?
Anyone who's spending a considerable amount of money on their wedding should consider getting insurance. Some venues require that couples have liability insurance in place before the big day.
What does it cover?
It depends on the policy. The most common is wedding liability insurance, which protects you if something gets damaged at your ceremony or reception venue; liquor liability covers alcohol-related accidents at your party. There are policies that account for family illnesses and others that let you customize what's covered—the flowers, cake, dress, photography, and even any deposits you've made.
What doesn't it cover?
Good wedding insurance will cover quite a bit, but no policy—no matter how comprehensive—will reimburse if there's a cancellation due to change of heart.
When do you get it?
You can buy it whenever you want—some companies allow purchases up to the wedding day; you can even buy it online. But why wait until the last minute? This is one task you can cross off your to-do list at least a month before the big day.
Where do you get it?
Some established companies that sell wedding insurance (also known as event insurance) are Progressive, Travelers, and WedSafe.
How much does it cost?
It depends on what kind of coverage you want but generally runs the gamut from under $200 to over $1,000.