What would you do if your wedding dreams went up in smoke? That almost happened to a Nevada couple, but gallant first responders saved the day. KSNV reported that firefighters rushed into their burning home, saving their wedding dress and rings as the crew fought the blaze.
While such items may be replaceable, it can cost thousands of dollars to repurchase them. That’s why many couples buy wedding insurance. These policies offer useful protection, but they don’t cover everything. How can you avoid major losses if disaster strikes? Understanding how this insurance works can help you plan and prepare.
A Quick Overview of Wedding Insurance
Most types of insurance cover people or possessions. Wedding policies are event insurance, providing financial protection for special occasions. The Balance’s Mila Araujo explains that these policies cover liabilities or cancellations. However, some providers bundle these two coverages.
Keep in mind that drunken guests can cause property damage, injuries, and automobile accidents. If your wedding policy doesn’t include host liquor liability insurance, it’s a good idea to add it. Your vendor may also ask you to buy this coverage, which pays for claims that arise from serving alcohol at your event.
What Wedding Insurance Covers
Wedding insurance policies usually reimburse for events outside of your control. Covered losses fall into several categories, as The Knot’s Julie Komorn explains:
- Vendor cancellations, no-shows, and contract breaches
- Illnesses and injuries
- Military deployment
- Property damage
- Catastrophic weather events
- Lost or stolen gifts
- Stolen, missing, or damaged wedding attire
The Insurance Information Institute mentions other types of covered losses. Some policies pay for missing wedding rings. Others cover professional counseling to treat emotional stress from a cancellation. Honeymoon coverage may be included or added to existing indemnity protection. Coverages can vary, so review your policy before purchasing.
These policies are rather comprehensive, but there are a few things they won’t cover. NerdWallet’s Lacie Glover mentions “cold feet,” minor weather problems, and engagement rings. Your policy also won’t pay for you to switch vendors. Some insurers won’t issue a policy for weddings with fireworks, bounce houses, or live animals.
Yes, You Can Have Too Much Coverage
Wedding policies offer a lot of protection, but other policies may pay for the same losses. Araujo discusses homeowners and rental policies, which cover personal property and liability. This may include your wedding gifts, jewelry, or attire if you host your wedding at home. If relatives host your wedding at their home, their liability coverage could apply.
NerdWallet's Lacie Glover adds that your venue could have its own liability insurance. As a result, your wedding policy and your venue’s coverage may overlap. Before purchasing your policy, ask your venue’s management what’s covered by its policies.
The Insurance Information Institute also advises checking auto policies and credit card insurance. Money Under 30’s Beth Luthi lists common credit card insurance benefits. These protections may also apply for wedding expenses charged to your card. Trip cancellation and lost luggage protection are just a few examples. As for your auto policy, it can extend to rental vehicles. If you rent a car for your wedding and have an accident, it may pay for damages.
Doing Your Homework Is Vital
Wedding planning involves many people and details. With that said, it's no surprise if you encounter a few headaches during the process. With a cool head and clear thinking, you can usually handle these challenges. But what happens when a catastrophic event threatens to ruin your big day? Protecting yourself is crucial, and buying wedding insurance may be a wise move. Confirm existing coverages and understand your options to ensure you choose the best policy for your needs.
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