Wedding insurance is a way to protect that investment, as it can cover a multitude of things, from relatively small issues that incur additional costs to unforeseen circumstances that can cause the cancellation or postponement of the entire reception. Also, since events pose liability risks, many venues require liability insurance before they'll allow you to use their facilities. Your venue may ask you to provide proof of Event Liability Insurance as part of your contract with them.
Wedding Cancellation Insurance may help protect against not only the financial impact of unforeseen cancellation or postponement, but also against vendors who do not fulfill their obligations. For example, if one of your vendors goes out of business right before your wedding, you'd be able to get your deposit back. These are all examples of losses that a wedding insurance policy could cover, saving you thousands of dollars!
The question to ask is: "What would happen to my wedding investment if something went wrong? The wedding Event Cancellation Insurance premium is based on the limits selected, so you can get the coverage and rate level that's appropriate for your wedding.
The price of a policy depends on a variety of factors. WedSafe offers instant, no-hassle quotes and the option to purchase online in just minutes. Do I Need Wedding Insurance? By Mila Araujo. Mila Araujo is a certified personal lines insurance broker with more than 20 years of experience in the insurance industry.
She currently serves as the director of personal insurance for Ogilvy Insurance where she works with some of the world's largest insurers and manages the needs of thousands of clients with the help of her broker team. As an insurance expert, has written about homeowners, auto, health, and life insurance for The Balance. Mila received the Bernard J. Learn about our editorial policies. Reviewed by Thomas J. Article Reviewed September 10, Thomas J.
Brock is a CFA and CPA with more than 20 years of experience in various areas including investing, insurance portfolio management, finance and accounting, personal investment and financial planning advice, and development of educational materials about life insurance and annuities. Learn about our Financial Review Board.
Key Takeaways Wedding insurance can help prevent you from sustaining financial losses if something goes wrong, property is damaged, or people get injured at your wedding. Make sure to ask a few key questions when you're looking at coverage options: Ask the venue what it covers. Ask your homeowners insurance provider what it covers or whether you can add a rider to your policy.
If applicable, have your parents contact their homeowners insurance company to ask whether they have any coverage, especially if they are the ones paying for the wedding or the venue.
Compare the coverages from different wedding insurance companies to understand what they cover and under what conditions.
Article Sources. Your Privacy Rights. To change or withdraw your consent choices for TheBalance. At any time, you can update your settings through the "EU Privacy" link at the bottom of any page. These choices will be signaled globally to our partners and will not affect browsing data. Meet the Expert. Michael Giusti is a senior writer and analyst at InsuranceQuotes.
He has worked as a journalist for more than 20 years, including as a reporter at a daily newspaper in Florida, as an editor at a regional business journal, and as a writer for national and international publications. Read on for everything you need to know about wedding insurance. There are two types of policies you can opt for, the first being liability insurance. These circumstances can be anything from inclement weather to family emergencies. When it comes to pandemics or epidemics, things get a little tricky.
Don't assume your plan is all-encompassing and ask questions when discussing your policy with an agent—even the ones that may seem obvious. Stop and think about what keeps you up at night, and whatever it is, make sure it's covered. Wedding insurance doesn't just cover the wedding itself. You can structure your liability coverage to include events within 48 hours of the wedding like the rehearsal dinner or day-after brunch as well as deliverables from your vendors like the cake, flowers, or dress.
All of the things you may be writing checks for throughout the planning process can be insured. As for what's not covered? Consider your total wedding budget when shopping for a plan.
This will help you determine a premium that's positively correlated to your investment. You can also purchase event liability coverage, which helps cover costs if you're found legally responsible for someone's injury at your event or damage to the venue.
Generally limited to a to hour period, this type of coverage helps protect the rehearsal dinner, wedding ceremony and reception, as well as set-up and removal within 24 hours of the event. Keep in mind that it's a good idea to purchase event insurance as soon as you start incurring costs, as there may be time restrictions on when you can get a policy. Your insurance agent can explain when you need to have coverage in place and the protection it provides. Want to learn more?
Contact a local Allstate agent to see how special event insurance can help make protecting your wedding a piece of cake.
This information is for informational purposes only and may not be applicable to all situations. You put a lot into planning a special celebration. Special Event Insurance can help provide the peace of mind you need to enjoy every minute of it.
By clicking "Get a Quote" you will leave Allstate. If you have to reschedule your reception because the banquet hall has no power after a big storm, but the caterer has already prepared the food, special event insurance will typically reimburse you, up to your policy's limits, for lost deposits and nonrefundable amounts for both the venue and the food.
Event cancellation coverage may also help reimburse you for payments to a vendor, such as a photographer or DJ, or costs associated with a honeymoon if the wedding is canceled or postponed.
And, even if your wedding takes place as scheduled, it may also help provide coverage if your photographs or videos are lost or damaged before you receive copies. The costs to replace lost or damaged wedding gifts, repair or replace of special attire and jewelry, like a tuxedo, wedding gown or rings, may also be covered.
Special event liability coverage may also help protect you if you're found legally responsible for damage to the venue or an injury to someone at the event. If one of your guests damages a wall at the banquet hall, or if your photographer trips and sprains his ankle trying to get a shot you requested, the resulting repairs or medical bills would likely be covered. Keep in mind that liability coverage is usually limited to a to hour period that ends when the reception is over. Coverage limits may vary by policy, so be sure to read yours so that you know how much your insurance covers.
Contact a local agent or read your policy to learn what types of event coverage may be available to you. While it may be helpful if a vendor goes belly up or you have to postpone your wedding due to severe weather, special event insurance does not cover everything.
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