2022 may become the Year of the Wedding.
Public health restrictions over the past two years due to the COVID-19 pandemic may have prompted engaged couples to adjust not only the date of their wedding ceremony and reception, but also the number of guests. With restrictions beginning to ease in many parts of the country, brides-and grooms-to-be may find wedding venues, planners and vendors are in short supply as couples that have postponed their big days jockey for position with those that have gotten engaged more recently.
No two weddings are the same simply because they can be complex events with many moving parts that all must come together at the same time, on the same day. An unexpected development in any area could mean anything from cancelling or postponing a wedding to everything still going ahead, but just not as planned.
Will I lose my deposit?
Both figuratively and literally, planning for a rainy day is good practice when making decisions about the wedding ceremony and reception (especially if any part of it is outside). While this could mean arranging for a tent or indoor venue option if dark clouds are in the forecast, there are options to protect both your budget and yourselves from more than just the wedding party and guests getting wet.
Wedding insurance can offer protection from a wide range of risks that could impact the big day. First and foremost, it offers coverage for damage to property or if someone gets injured at the wedding. But it can go beyond that.
If the wedding is cancelled unexpectedly, coverage can reimburse the deposits paid to vendors and venues. Or, if a vendor like a photographer goes out of business and doesn’t show up to the wedding, this type of insurance can provide the extra expense of retaking the photos.
Couples can also be reimbursed if things like the wedding cake, bridal attire or wedding bands become lost or damaged. It can also extend to wedding gifts, providing coverage if they’re damaged or lost, even when gifts are being transported home. And if the honeymoon was paid for up front, and is non-refundable, wedding insurance can help cover the cost for travel if the actual wedding is cancelled.
How much does it cost?
Every wedding is different, so there are options for couples to consider. Some wedding insurance plans can start from $200, which is a relatively small expense to cover a significant event.
If you’re just starting the planning process, consider exploring wedding insurance before the first deposit is made with a vendor or venue; this will help ensure you get the most out of the policy coverage. That said, insurance is available even 3 days before the wedding ceremony, but the coverage options become more limited.
For more information about wedding insurance, be sure to talk to an agent to explore what is right for you.
This information has been provided for your convenience only and should not be construed as providing legal or insurance advice.