It's that time of the year when many brides and grooms are getting set to walk down the aisle. But, what happens if the wedding gets canceled for some reason or another? How much money would you lose? You may be able to get reimbursed if you have wedding insurance.
What is Wedding Insurance
Wedding insurance is simply peace of mind for the bride and groom. A policy generally costs between $200 and $400, depending on what's covered. Here are some things a policy can insure:
A wedding insurance policy generally covers loss of deposits paid to providers of goods and services. This may include deposits to a caterer, band, or florist. The bride and groom can also buy extra protection to insure their honeymoon.
What happens if the film is lost, can't be developed, or if the photographer doesn't show up? Wedding insurance may pay for your wedding party to get back together to retake those photos.
Most wedding insurance will also cover costs for lost, stolen, or damaged wedding attire.
You spend all that time registering for gifts and your friends and family spend their hard-earned money to celebrate your special day. But, if something happens to your presents, if they're lost, damaged, or stolen, wedding insurance will provide coverage so you can replace them.
Reasons for Cancellation
In order for wedding insurance to kick in, your wedding must be cancelled for a covered reason. You will be covered if
>>Something happens to the site.
>>Someone essential to the wedding gets sick or injured.
>>Severe weather prevents your wedding from happening.
However, keep in mind, you cannot be reimbursed if there is simply a "change of heart."
Where to Buy
So, if you're looking to get wedding insurance, where can you get it? You can buy wedding insurance from an agent in your area. Or, you can turn to e-loan companies that specialize in protecting vows. However, make sure the company is licensed by your state insurance department. Also, check with consumer protection agencies to see if there are any complaints against the company.
Did You Know?
The average wedding in the United States costs more than $20,000.
Bride's Magazine, 2002