Hey, engaged lady! 🥰
So maybe you’re looking into wedding insurance because you already knew about it! Or maybe you had no idea it existed, and you’re just looking into it because your wedding venue requires to have it.
Regardless of the reason why you’re looking into wedding insurance, this blog is meant to answer all your questions you have about it!
Happy reading! 😊
Wedding insurance is something you can buy to protect the costs you put toward your wedding. It can cover your wedding dress, your venue, your vendors, your wedding gifts, your wedding photos, your wedding ring, and your non-refundable deposits that you’ve put toward your venue and vendors.
Your wedding insurance will cover an occurrence that is unexpected, unpredictable, and non-preventable.
For example! If you already had everything booked and paid for before COVID-19 happened, then you would have a much higher chance of getting your money back than you would if you had planned your wedding after COVID-19. Why? Because before the coronavirus came, it was unpredictable and non-preventable (mostly). But! If you planned your wedding or set your date during or after the virus, then it would no longer be considered unpredictable. Because…well…it’s already here. Does that make sense?
Some situations that your wedding insurance covers are:
**IMPORTANT NOTE: What your wedding insurance policy covers is very specific to the wedding insurance company you use and which coverage you choose. So make sure to read every word before you sign and pay!
The cost of your wedding insurance depends on which company you go with and what you choose to get covered.
There are two types of insurance you can buy:
Liability insurance includes anything that happens during your wedding, like if a guest accidentally knocks over a candle and catches the venue on fire. Or if one of your guests gets really drunk and damages the wedding venue in some way.
Cancellation insurance includes anything that happens before the wedding, such as a natural disaster, an illness, or military leave. Do take note that cancellation insurance does NOT cover a change of heart. You will not be insured if you simply change your mind or call the engagement off. Sorry!
On average, wedding insurance costs between $300 and $600 if you get both coverages. Make sure to get enough to cover all your wedding expenses. It’s definitely best to get both liability and cancellation coverage, but the choice is completely up to you!
There are many reputable wedding insurance companies out there! Some of the best ones are Markel, WedSafe, and Wedsure. But do your own research, read through each policy, and see which one you like best. (To help you with your search, Consumers Advocate did a study on which insurance companies were the highest-rated.)
Look at each one below to find out which one is best for you!
Markel wedding insurance covers your non-refundable deposits, gifts that are lost or stolen, cancellation costs, and injuries or damage that happens during your wedding.
Their wedding liability insurance costs $75-$235, depending on how much coverage you get, and their cancellation starts at $130. If you get both of them, then they’ll give you a 15% discount!
You can also buy liability insurance all the way up until one day before your event! It covers your wedding rehearsal and the entire wedding day.
**IMPORTANT NOTE: Markel is not offering wedding cancellation insurance right now due to COVID-19, but they are still offering liability coverage!
Wedsure offers both liability and cancellation insurance, just like Markel and WedSafe. You can buy a liability policy from them as early as two years before your wedding and as late as the night before, and the price starts at $125 for $5M in coverage.
Unlike the other two, Wedsure gives you free host liquor liability if you’re serving alcohol! That’s a nice price break!
They also are still offering cancellation policies, even during COVID-19! Click here to get a quote from them!
WedSafe also offers both liability and cancellation policies, and they also give you a 15% discount if you purchase both.
**IMPORTANT NOTE: WedSafe is not offering wedding cancellation insurance right now due to COVID-19, but they are still offering liability coverage!
Click here to get an instant quote with WedSafe.
As soon as you have a date set, and you know that you’re going to get married, then any time after that is a great time! It’s much better to get it sooner rather than later, as some wedding insurance companies have a certain limit to how soon before the wedding you can purchase a policy (especially if you’re wanting a cancellation policy).
At the end of the day, whether or not you purchase wedding insurance is completely up to you. However, I always recommend getting it. You just never know what can happen, and you’ll sleep much better at night knowing that the thousands of dollars you put toward your wedding won’t just go down the drain!
But make the decision that’s best for you! If your wedding isn’t that expensive, then it might not be worth it to get wedding insurance. Or, if you can easily afford to lose all the money you put toward the wedding, that’s another thing to consider, too.
But if you would feel at ease knowing your money was covered, then it would definitely be a great decision to go ahead and get wedding insurance.