Wedding Insurance 101: The Basics Of Protecting Your Big Day

Save yourself—and your money— from those dreaded “what ifs?”

Updated 06/23/17

Photo by Alysse Gafkjen

You know about health insurance, car insurance, and home insurance. But have you ever thought about purchasing wedding insurance? Think about it. With the average wedding in the U.S. costing tens of thousands of dollars (if not more), isn’t it worth a little extra to keep your investment safe? It’s a small investment (averaging around $200) that comes with huge peace of mind, and we guarantee there’s a policy out there for you. Need more convincing? We turned to the pros at WedSafe to break down your options.

What is Wedding Insurance?

When you’re looking to insure your wedding, you have two options.

Cancellation and Postponement Protection does exactly what it says, protecting your financial investment in the event of the postponement or cancellation of your wedding. If circumstances beyond your control force the cancellation of your wedding, this coverage could reimburse you up to the total cost of your wedding. Reasons could be anything from severe weather to the venue closing to the illness of a person integral to your wedding. Keep in mind, however, that wedding insurance does not typically cover you if you choose to call off the wedding of your own accord.

Liability Insurance protects you against financial liability arising from your wedding, and is required by many venues. This will protect you if a guest is injured, if the venue is damaged, or if there is an alcohol-related incident.

Does it Cover More than Just Our Wedding Day?

Are you having a rehearsal dinner or morning-after brunch? What about a big set-up and break-down with your vendors? You can extend your wedding liability coverage to include events within 48 hours of your wedding, as well as any work your vendors are doing before and after your event.

Why Purchase Wedding Insurance?

With so much money being spent on a single day, you’ll want that investment to be protected. Wedding insurance can help alleviate the stress, as well as reimburse any covered financial losses, whether it’s red wine ruining a wedding dress or an unforeseen event like a storm or flood that forces the cancellation of the entire event. Every check you sign is a risk (as a vendor could potentially not deliver what was agreed upon, go bankrupt, or not show up at all!), which would leave you with money lost unless you’re covered.

What Should We Look For When Shopping for Wedding Insurance?

There are a few key questions to ask as you’re choosing a company and a policy for your wedding insurance.

  • How long has the company been offering wedding insurance?
  • Do they specialize in protecting couples?
  • Is the insurance underwriter a company you can trust to be on your side?
  • Do you have the option to purchase just cancellation coverage, just liability coverage, or a bundle of both?
  • What is the aggregate limit of liability for a catastrophic event?

To make the most of your insurance, you should have an idea of your total budget, your approximate number of guests, and your venue—all of which will enable you to obtain a quote for coverage for your event.

So What Does it Cost?

Your wedding may be expensive, but wedding insurance is not! In fact, it costs the fraction of a wedding cake, with policies starting as low as $75 and usually averaging around $200.

Choose a coverage level based on your total wedding budget, which is the amount you stand to lose in a worst-case scenario. This will help you select an amount of coverage and determine a premium that fits your investment in your event.

When Can I Sign Up?

For event cancellation insurance, it’s best to protect yourself as soon as you start paying deposits to your vendors. Think about it: that’s money you won’t get back if you’re not covered! Even the most reputable vendors can find themselves facing problems, so a wedding insurance policy will help you get your money back if necessary.

Is your wedding day coming up? Purchase a cancellation coverage policy at least 15 days before your wedding. Liability insurance, on the other hand, can be purchased the day of.

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