Brides and grooms who wake up in the middle of the night worried about unexpected accidents or weather wreaking havoc on their carefully planned day can put their minds at ease. Purchasing wedding insurance will help to cover any losses that occur during the wedding day or due to events that happen before the wedding even happens. There are different coverage options available and what is the best for you depends entirely on your specific event. An independent insurance agent can help figure out the best wedding insurance for each couple.
Average Cost of Wedding
The best wedding insurance is not the same from couple to couple. While the average cost of a wedding in the U.S. in 2014 was $28,000, the amount that people spend varies. Some say the average cost is now $31,000. The level and type of coverage depends on the event budget and the specific services on which the bride and groom are spending their funds. Coverage may also differ depending on the wedding venue, whether or not alcohol will be served, and the number of expected guests.
There are a lot of factors to consider when purchasing wedding insurance. You can work with an agent to create a package that best suits your needs. Make sure you discuss the following items with your significant other:
1. Cancellations: This type of insurance will help you to recover the costs of postponing your wedding if there is bad weather, a death or illness in the family, or if one of you is called to active military duty. It can also include coverage if a vendor, officiant, or other key person involved in your wedding has to cancel and you have to pay a large last-minute fee to replace them.
2. Liability: A wedding personal liability insurance policy can protect against bodily injury and property damage. If guests get food poisoning or injure themselves on the dance floor, then this policy will help to cover the medical bills or lawsuit. If a guest or vendor damages the floors or puts a hole through the wall of the reception hall, then liability insurance will help to take care of that too. Host liquor liability is different, but no less important. Alcohol can often be a factor in bodily injury and property damage incidents. If you plan to serve alcohol at your wedding, make sure that the wedding venue has host liquor liability, or you will need to purchase your own policy.
3. Theft and damage: There are smaller policies that you can purchase to cover miscellaneous items from being stolen or damaged. This includes the wedding gifts, wedding attire, rented property like chairs and place settings, and the wedding jewelry.
4. Wedding rehearsal: Most families hold a reception for the wedding party and close family members the night before the big day. Usually, you will not need to purchase separate rehearsal coverage because most wedding insurance policies will already include it. Be sure to read the fine print to make sure that the insurance you choose defines the event as both the rehearsal, wedding, and reception.
5. Honeymoon: Many couples celebrate their nuptials with a vacation. Honeymoon insurance is a form of travel insurance. It is especially important to purchase a policy if you have planned a non-refundable cruise, tour, or all-inclusive trip. Look for a cancellation policy that is comprehensive and protects you against more than if the travel company goes bankrupt or there is a terrorism issue. If you have a trip interruption for another reason like medical illness or injury, then a broader travel cancellation plan will help to cover your losses.
Plan the “best wedding” for you, then talk to your insurance professional about making sure your financial investment is protected. An insurance agent can help couples craft the best wedding insurance to protect their special day. Independent agents are knowledgeable about a wide array of providers’ plans and can expertly guide couples through the decision making process.
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