Wedding Insurance: A Savvy Investment
Congratulations, you’re getting married and every facet of your wedding has been planned right down to the smallest detail, but are you overlooking a critical element in your overall plan without realizing it? Seasoned wedding planners include wedding insurance in their overall preparations and suggest you consider doing the same.
Because the goal of your wedding plan is to celebrate your special day, one of the happiest and most joyful days in your life, you’ll want to proactively and realistically plan every detail. Thankfully, most weddings go off without a hitch yet things can go wrong. By obtaining upfront protection against problems which arise throughout your planning process, you decrease the chances of mishaps ruining your wedding. Think of it as planning the ultimate wedding with the ultimate back-up plan.
Why would you need a back-up plan? Have you considered what you would do if the bride, groom, or an immediate family member suddenly became ill or injured on their way to the wedding? Is there any possibility of a military bride or groom being prematurely deployed? What will you do in the case of a no-show vendor or a vendor who collects your deposit then declares bankruptcy? Wedding insurance provides needed coverage and helps you plan alternatives in situations just like these.
Plus, at affordable rates, there’s little incentive to plan your wedding without protection. Typical policy costs are 1% or less of your total wedding expenditures and the benefits far outweigh the costs with policies offering attractive protections against a host of wedding-plan-busters. Take for example weddings planned in August 2011 when Hurricane Irene forced couples to postpone their wedding and honeymoon plans. Thousands of dollars in losses were incurred in non-refundable deposits and in payments for perishable food items and floral arrangements. Stressed and disappointed, couples with wedding insurance were at least able to mitigate their losses and seek professional counseling services (included in their coverage) to help them deal with the trauma.
So, let’s discuss in a little more detail what coverage and protection wedding insurance offers you. A typical policy includes coverage for cancellation or postponement of your wedding and any resulting extra expenses incurred to avoid postponement of your wedding. You’re also covered for photography and video mishaps such as lost, damaged or stolen film and the repair or replacement of damaged or stolen wedding gifts. The bridal gown, special wedding attire, and jewelry are also protected against damage, loss, and theft. You’re covered for vendors who go bankrupt, no-show vendors, and may be covered (depending on the policy) for non-recoverable travel and accommodation expenses for your honeymoon. Some policies even offer “change-of-heart’ coverage if you acquire your policy far enough in advance.
Couples planning destination weddings will be happy to learn that wedding insurance is available for weddings planned not only in the U.S. but in places like Puerto Rico, Canada, the United Kingdom, Mexico, Bermuda, the Bahamas, Turks, Caicos, the Caribbean Islands (excluding Cuba and Haiti), and cruise ships leaving from ports in these territories. Check with your agent to establish whether coverage is available for the wedding destination you’re planning.
Clearly, wedding insurance is well worth the small investment. If for any reason your plans for a problem-free wedding don’t succeed, you will be compensated. What’s more, if you have already made wedding plans and paid deposits before learning about wedding insurance it is still possible to acquire a policy with many carriers insuring your wedding in as little as 15 days in advance of the wedding date.
We know your wedding will be one of your life’s most joyous and memorable celebrations. Enjoy the peace of mind and security offered by insurance carriers who have put just as much thought into designing wedding insurance packages to protect your plans as you have put into planning your very special day. Speak with your insurance agent early in your planning process and ask them to help you choose the most suitable wedding insurance package to protect your wedding dreams and plans.