Many of you may know that Hurricane Isaac put a damper on several South Florida weddings over the last weekend. As a planner, my job is to ensure that everything runs as smoothly as possible, but I can’t predict the unknown and things do happen. What can you do to protect your financial investment should this or any other mishap occur on your big day?
Obtain Wedding Insurance!
There is insurance for every aspect of our lives so why not invest in a wedding insurance policy?
What is Wedding Insurance?
Wedding insurance is just as it sounds. It is specifically designed to protect you from financial loss in the event that your wedding must be cancelled or postponed due to circumstances beyond your control, or if one of the major elements of your wedding is lost or damaged. Hurricanes hit. Pipes break in reception halls. Vendors go out of business. Equipment gets damaged. The possibilities are endless.
What are the benefits of having wedding insurance?
Wedding insurance can help protect you against the unforseen and also can afford you great peace of mind. Policies usually cover incidents related to the site, weather, vendor no-shows, sickness or injury and military or job related circumstances.
How much does it cost?
A basic wedding insurance policy costs between $125 and $500 depending on what policy you choose.
Is there anything wedding insurance does not cover?
Wedding insurance does not cover “change of heart” circumstances. In other words, cancellation as a result of cold feet doesn’t count! Most won’t cover pre-existing medical conditions if they should happen to worsen just before the wedding nor will they cover circumstances known prior to the wedding day that would prevent it from occurring. They generally do not cover engagement rings either, however, does cover wedding bands that will be exchanged during the ceremony.
When do I need to purchase wedding insurance?
Wedding insurance can be purchased as early as 2 years before your wedding day and as late as 24 hours before your event in most states.
Do you have any resources?
A few resources you can check out but are not limited to are:
As always, with any other insurance policy, do your research before choosing which is best for you. Every policy and every scenario is different. Ask your vendors for a copy of their policies to get a better view of what coverages you are lacking. Also, it won’t hurt to talk to an insurance agent to get a better explanation of the policies as well so you have a full understanding. And be sure to read the fine print to make sure everything is covered.