Wedding Insurance
Wedding insurance is a policy that provides financial protection against an unpredictable event that can occur. This type of coverage is especially important given the increasing cost of weddings.
The following is a list of some of the benefits that may be provided under a wedding insurance package policy:
• Cancellation or Postponement Expenses: Reimbursement for expenses that result from cancellation.
• Illness or Injury: If certain individuals involved in the wedding get injured or become ill and the wedding needs to postponed, the expenses involved with the postponement are covered.
• Weather: If you wedding has to be postponed due to rain or bad weather conditions, there is coverage for the cost of rescheduling.
• Failure of Suppliers: Reimbursement for any non-recoverable deposits from a supplier who fails to provide their services as agreed upon.
• Rented Property: Reimbursement for direct physical loss or damage to any rented property used during the wedding reception.
• Wedding Rings: Reimbursement for loss or damage to wedding rings for a stated period of time prior to the wedding until the conclusion of the ceremony.
• Wedding Gifts: Reimbursement for damage to wedding gifts up to 24 hours after you receive them. The weddings gifts must be either at the reception venue or in transit from the reception venue to the home of the wedding party. The coverage ends once the wedding gifts arrive at the home of the wedding party.
• Wedding Cake and Flowers: Reimbursement for any direct physical damage to or loss of the wedding cake or flowers for a specified number of days prior to the wedding an up until the conclusion of reception.
• Photographs, Video, DVD or Other Medium: Reimbursement for the photographer’s or videographer’s expenses incurred to correct, or retake the wedding photographs or other medium within a specified timeframe from the actual wedding event.
The following are some of the riders that can be added to the standard wedding insurance package policy for an additional premium to address the policyholder’s specific needs:
• Honeymoon: Cancellation of the honeymoon due to illness, bad weather or other specified circumstance.
• Liability Insurance: Liability insurance if the ceremony and or reception is held at a site that doesn’t carry liability insurance such as a private residence. This provides coverage in the event a guest sustains personal injury or causes injury to someone else.
• Military Service: If the bride or groom are in the military or active reserves, coverage is provided if they are called into service and the wedding has to be postponed.
There are conditions, limitations, and exclusions that are outlined in the policy wording. It is important to consult an insurance broker for expert advice. You will want to ensure you have the appropriate coverage to address loss to property as well as against lawsuits for personal injury to a guest or caused by a guest.
