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Wedding Insurance 101
Though you might not
want to think about it, disasters can happen on your wedding
day. Wedding insurance can protect you against these
disasters, and give you peace of mind. From a sudden
cancellation to stolen gifts to a damaged gown, wedding
insurance can be a huge comfort, especially for an event
into which you are pouring so much money. But what exactly
is wedding insurance -- and how does it work?
Here's the inside
scoop.
WHAT IS IT?
Basically, wedding
insurance protects a couple's investment from circumstances
beyond their control, and reimburses expenses incurred. For
example, what if your limo driver doesn't show up and you
have to book another one the morning of the wedding--for
three times the price? Or what if the groom's custom-made
tuxedo is lost in airport baggage, and he has to buy a new
one the day before the wedding?
What if your reception
space goes out of business a month before the wedding, and
you lose your deposit and have to book another space? These
are the types of bigday financial losses that wedding
insurance can help to protect.
WHY GET WEDDING
INSURANCE?
Consider these
scenarios:
* Janet and Dan
spend months planning their winter wedding. But on
wedding day, their reception site is cut off by an ice
storm. With the right wedding insurance policy, the
couple can postpone their wedding and receive every
penny they lost (less the deductible) -- including money
for the invites, cake, catering, attire, and
non-refundable deposits for ceremony musicians, floral
designer, and other vendors.
* A bride's father
is injured in a car accident just before the wedding and
cannot travel. If the couple has to postpone their
wedding, with wedding insurance they could be paid back
their expenses to enable them to have the wedding when
the father recovers.
* Right before the
ceremony, Brittany's gown catches a gust of wind.
Unfortunately, the tulle dances right over to the end of
Uncle Howard's cigar and instantly goes up in flames.
Fortunately, the right insurance policy covers the
replacement of the veil and gown.
WHEN SHOULD YOU GET
IT?
The sooner the better.
Let's say you put a deposit on your reception hall twelve
months prior to your wedding date and then it burns to the
ground six months before the big day. With wedding
insurance, you'll be sure to get your deposit back. But
note: most insurance companies have limitations on how far
in advance you can purchase insurance.
WHAT DOES IT COVER?
A problem with the
site, weather, vendors, key people, sickness or injury, and
military are the top concerns come wedding day. There is
usually a specified maximum amount, which can be claimed
under each section, and a deductible amount also applies. Be
sure to find out the details of your insurance plan.
Site:
Check to see if your ceremony and reception site is already
insured. If it's
not, wedding insurance can cover the
cost arising out of unavoidable cancellation (such as damage
or inaccessibility to the ceremony site). Or if your
reception hall is unable to honor your reservation -- it has
burned in a fire, experienced an electrical outage, or just
plain closed down -- your wedding insurance will cover this
loss. Sometimes this policy can cover the rehearsal dinner
site, too.
Weather: Any weather conditions which prevent the bride,
groom, any relative
whose presence at the wedding is
essential, or the majority of the guests from reaching the
premises where the wedding is to take place. Insurance
covers rescheduling the wedding and all the details involved
-- such as ceremony flowers, tent rental, and reception
food.
Vendor
No-show: What if the essential wedding people -- the caterer
or the
officiant, for example -- fail to show
up? The wedding insurance policy usually covers cancellation
or postponement of the wedding.
Sickness or Injury: Wedding insurance may also include
sickness or injury to the
bride, groom, or anyone essential to
the wedding.
Military or Job: It's true, military personnel may be
shipped out at a moment's
notice. Wedding insurance can cover
postponement of the wedding due to the bride or groom
suddenly getting called to military duty. This can also
apply to a last minute corporate move -- i.e. the bride's
company suddenly relocates her to another city. Also, in
some cases, cancellation of the wedding due to job loss can
be covered.
ADDITIONAL COVERAGE
Couples can take out
supplemental policies to defend against damages with other
wedding-related items such as photography, videography, and
gifts.
Photography: For photographs, some policies pay to retake
the photographs after
the fact if the photographer fails to
appear or the original negatives are lost, damaged, stolen,
or not properly developed. Some policies will pay to
re-stage the event -- with the principal participants so
that pictures can be retaken. A policy may also pay costs
for rehiring a photographer, buying a new wedding cake, and
new flowers.
Videographer: When a videotape produced by a professional
videographer is
damaged (he or she used faulty
materials for example), a policy usually pays a certain
amount to have either a video montage created, a video
compilation made of the photographs and other wedding
memorabilia, or, if possible, a retaking of the official
video at a restaging.
Gifts:
Whether they're mailed to your home or handed to you on your
wedding
day, valuable items like gifts are
something else you might want to consider insuring. Think
about a party crasher lifting unattended presents from your
reception. Gift coverage pays to repair or replace
non-monetary gifts that are lost, stolen, or damaged. A
police report is usually required for stolen gifts. The
damage or theft generally has to take place within a limited
time period (ranging from 24 hours to seven days depending
on the specific policy) before or after the wedding, in
order to be covered.
Attire: This coverage pays to repair or replace the bridal
gown or other special
attire when it is in your possession
and is lost, stolen, or damaged (including financial failure
of the bridal store). Special attire usually includes the
clothing and accessories bought or rented that are to be
worn by the bride, the groom, and attendants at the
ceremony. Note: This does not usually include watches,
jewelry, or semi-precious gemstones or pearls (even if they
are attached to clothing).
Personal Liability: Personal liability covers bodily injury
or property damage
caused by an accident that occurs
during the course of the wedding (your best man trips and
falls on his way up to the mike to roast you or Uncle Murray
suffers a Harvey Wallbanger wall banger).
Medical Coverage: This covers reasonable medical expenses
(up to the policy
medical cover limits) for each person
who is injured during the covered events from a cause of
loss, which would be covered by your personal liability.
Honeymoon: Your honeymoon can cost as much as a new car. But
before
buying travel insurance to protect
your investment, see if your credit card and/or homeowner's
policy covers you if your luggage gets lifted, your trip is
delayed, or you have to cancel. If not, you can a buy
separate, trip-only policy. Call your insurer, or ask your
travel agent for details. Also, certain wedding insurance
packages include optional travel insurance for your
honeymoon.
WHAT DOESN'T IT COVER?
Wedding insurance does
not cover a change of heart. In other words, cold feet don't
count.
HOW MUCH DOES IT COST?
A basic insurance
policy that covers loss of photos, videos, attire, presents,
rings, and deposits usually costs anywhere between $125 and
$350, depending on the amount of coverage you want. General
liability insurance, which covers up to $1,000,000 for
accidents, costs around $125. For a completely worry-free
wedding, opt for both to consider yourself truly covered.
THINGS TO CONSIDER
Every insurance policy
and every wedding scenario is different. Be sure to talk to
your insurance agent -- and have him or her explain the nuts
and bolts to you. You want to make sure you and your sweetie
understand every detail of your policy.
To find out more about
Wedding Insurance and get a quote to insure your wedding
visit WedSafe.
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Copyright 1989 - 2008 Paradise
Weddings & Travel, All Rights Reserved. Paradise Weddings & Travel
is a ministry of the
Ecumenical Catholic Church of America and as such, proceeds
collected from our products and services will be used by the Church to
further the mission of the Church, which include Homeless Feedings and
other community projects for the underprivileged. All
prices are subject to change without notice. All sales and services will be subject
to 4.712% Hawaii General Excise Tax. Dr. RC Anderson is an Independent
Travel Agent of Global Travel International of Florida. All travel
reservations, bookings and accommodations are made through, sold and
serviced exclusively by Global Travel International of Florida, Seller
of Travel: CST #2043947-40 FLSOT #20734
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