Should You Buy Wedding Insurance?

When planning a wedding, you’ll most likely have a great deal of questions, including whether you should hire a band or DJ and what color you should choose for your bridesmaid dresses. However, a question that is not asked often enough but is important is whether you should buy wedding insurance. Is it really that important?

According to, in 2012 it cost around $27,000 or more for the average wedding and this doesn’t include the honeymoon. This is around the cost of a well-appointed new car.

Much like you would not leave the dealership without purchasing car insurance, these days you probably should not have a wedding without wedding insurance. Wedding insurance is not that expensive and could potentially save you thousands if sudden illness, a bankrupt vendor or horrendous weather ruins your day.

According to USA Today, there has been a 60 percent increase in wedding insurance policies for insurance company WedSafe since 2007. Plus, it’s not just that more couples are opting to buy this type of insurance, but now more than ever, agencies are requiring it, says Wedsure’s president and founder, Robert Nuccio.

What Wedding Insurance Covers

There are three types of insurance coverage that couples should take into consideration. These include:

● Liability. This covers damage or an unexpected accident like bodily injury and is typically required.
● Cancellation. This is optional and covers you in a situation where you must postpone the event because of illness or the venue is damaged by a natural disaster.
● Deposit Loss. This covers situations like, for example, you paid a limo driver and he goes out of business.

What Wedding Insurance Doesn’t Cover

Change Of Heart

In most cases, if you are left at the alter because your bride or groom has cold feet, you are not covered. It is up to the person who paid for the wedding to cover all costs.

Wedding Insurance Costs

Policies can be customized and the costs may range anywhere from $40 to over $1000 or more depending on the type of wedding it is. The amount you will pay will depend on a few factors such as the location of the wedding, the type of insurance you choose, the amount of coverage you desire and your overall budget. For instance, if you opt for a $40 policy, that might just cover liability for a guest party of 40 or less, but if you choose a $2000 policy that could be coverage to protect you from a deposit loss for a $27,000 function.

Ultimately, the insurance costs will be the smaller cost of your overall wedding costs, and will provide you with assurance that you are covered. It will also provide your vendors with a sense of relief. Not everything can be fixed and when you purchase wedding insurance, but it removes the anxiety for all parties involved. It’s just good protection for your wedding investment.