Wednesday, September 28, 2016
Do You Need Wedding Insurance
Nobody wants to imagine anything going wrong on their wedding day. It is always sunny and goes off without a hitch when you are running it through in your mind.
But, what if on the morning of your wedding did you wake up to a thunderstorm that knocks the power out to the church? That beautiful old church that is full of the dark wood and the stain glass windows? Might be alittle dark (even with candles) to hold a wedding there. Panic mode would sends you scrambling. Does the reception venue have space for the wedding? They sure do, but now there are more costs, costs to reset the room, twice, chairs, arches, etc... How would you pay for it? What if the power was also out at the bakery and your cake was ruined, needed a new one at last minute, twice the price?
This is where wedding insurance could help you out, sure you would probably have to pay out of pocket the day of but you would be reimbursed.
How Much Would You Need?
Coverage amounts are set based on alot of factors. Cost of the wedding, location, amount of insurance that our vendors and venues already carry. The conversations you would need to have would be with your vendors and your insurance agent.
Ask vendors are they covered to reimburse you if they, at the last minute are unable to provide their service? Read the contracts carefully.
Ask you agent, what would be covered, there is a good chance that you will supplemental riders for things such as photography and video (these are are the where they might give you a re-do if your pictures, negatives are damaged.)
Other supplemental polices could be purchased to cover jewelry, and personal liability.
How Much Will it Cost me?
Be prepared to budget for $500 for basic coverage, if you are looking to include photos, video, jewelry and your honeymoon it could be closer to $1,500. Using your insurance agent could help you defer costs with bundling with current policies.
What Else to Know.
Wedding insurance doesn't cover a broken heart. If the wedding is called off, it will on cover the cost of dresses, deposits or ice cream.
Engagement rings will likely need to covered under a different policy (ask about homeowners or renters.)
Now let's go back to our happy, sunny place and imagine this day going exactly as planned!