Wedding insurance companies offer something that even the most meticulous planning can’t: Protection from the unexpected. Sinking a lot of money into one day doesn’t help with the pre-wedding jitters.
What if cancellation or postponement is the only way forward? Many couples find themselves already cash-strapped and maxed out on credit cards. Instead of losing your deposit (and potentially months of planning), consider adding affordable wedding insurance to your budget.
Basic wedding insurance — also known as special event insurance — usually costs less than $300, and offers robust protection for one of the most expensive days in a couples’ life.
Cancellations can put couples into a financially tricky position. Vendors often require non-refundable deposits. In the event of cancellation or postponement, couples might not have any money left to start planning anew. Also, if a guest or a staff member suffers an injury, they could hold the wedding hosts financially liable.
Bottom line: Weddings can come with a huge amount of risk for financial losses. Cancellations can be emotionally and financially devastating, but buying insurance makes it possible to bounce back.
There are two main types of coverage: Liability and cancellation. Not all plans include both liability and cancellation coverage — most wedding insurance providers give couples the option to build a policy that fits their exact needs.
Liability insurance covers medical expenses and property damage that arise from a wedding celebration. Ice sculpture collapses, overzealous conga lines, candle-lit ceremonies — the possibilities for bodily injury are endless, no matter how unlikely.
Liability insurance typically covers a 24-hour to 48-hour window. This allows the policy to cover the rehearsal dinner as well as the site setup and breakdown.
When the wedding is no longer possible due to unforeseen circumstances, cancellation insurance can help couples protect their deposits. And It’s not just guests that might have to cancel. If a vendor falls through or goes out of business, wedding cancellation insurance can make sure you’re able to quickly pivot to a new vendor.
Some vendors will require you to show your certificate of insurance, often 30 days before the wedding.
Alcohol poses an inevitable risk. Host liquor liability is must-have insurance in some states, but a good idea no matter where you live.
Destination weddings come with an added layer of logistical concerns, making them more likely to fall victim to sudden cancellations. Pandemics and/or civil unrest could suddenly make your travel plans impossible. But even something as minor as lost luggage can really throw a wrench in your big day, so consider your backup plan before you pack your bags.
If you’re having your wedding outside, the weather is more likely to affect your celebration. This especially applies to couples getting married in areas prone to extreme weather and natural disasters.
Note: Wedding insurance usually won’t cover cancellations due to rain.
Some plans offer coverage in case the bride or groom can no longer attend because of military deployment or another career demand. You can also find plans that will provide cancellation coverage in the event of job loss.
Customize your wedding insurance to protect the extras you care about the most.
Vendors have insurance policies. Ask to see their policies so you can make sure you don’t buy insurance to protect something that’s already covered.
Policies come with coverage limits — that is, a maximum amount they reimburse. If you’re having a very expensive wedding, make sure you find a policy that can keep up with your costs. We found plans that cover up to $5 million.
There are a few circumstances that make it difficult or impossible to insure your wedding. Keep the following in mind:
Basic plans usually cost somewhere between $100 to $500.
Make sure to consider the price of your deductible. Wedding insurance is the same as any other type of insurance: Cheaper plans often come with higher deductibles.
Insurance agents recommend that you purchase policies as soon as you start incurring costs.
Providers may require that you commit to cancellation policies at least 30 days before the wedding.
Once you decide what type of coverage you need, it’s time to start asking wedding insurance companies for quotes.
Top highlight: Provides multiple days of insurance coverage - three full days! Read more about it here
Top Highlight: WedSure is one of the only insurance companies to offer “change of heart” or cold feet insurance.
Top Highlight: WedSafe offers the most comprehensive last-minute liability insurance. You can purchase as late as the day of the wedding.
Top Highlight: Travelers plans have no deductible.
Travelers market its wedding insurance as “The Wedding Protector Plan.”
Top highlight: Wedding pros tout Markel as the best deal for basic wedding coverage.
Markel is the official wedding insurance provider for USAA, but non-USAA members can also purchase their wedding insurance directly from Markel. USAA members have access to extra perks.