Your wedding is your big day and one you'll likely remember for the rest of your life. With that in mind, many couples choose to go big for their wedding selections, wedding dress, and rings—or, at least, not go with the cheapest food, flowers, and decor. That's probably why the median wedding budget is $20,000, according to the Weddings & Money: A Brides & Investopedia study.
What Is Wedding Insurance?
Wedding insurance falls within the category of special events insurance. When you purchase wedding insurance, you are protecting yourself in the event of a cancellation or postponement, as well as against any liabilities associated with the wedding.
Why Get Wedding Insurance?
Consider these scenarios:
Jordan and Blake spend months planning their winter wedding. But on the wedding day, their reception site is made inaccessible 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 nonrefundable deposits for ceremony musicians, a floral designer and other vendors.
The 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 the dress instantly goes up in flames. Fortunately, the right insurance policy covers the replacement of the veil and gown.
There is an unprecedented, global pandemic that creates undue economic hardship, limits all air travel, and results in laws banning large gatherings. Sound familiar? Wedding insurance protects the costs paid for your ceremony from similar extraordinary circumstances beyond your control.
The 5 Best Wedding Insurance Companies of 2021
Best Overall Wedding Insurance Coverage: Wedsure
Fastest Underwriting: eWed Insurance
Best Insurance for Destination Weddings: Travelers Wedding Protector Plan
Best Wedding Insurance Customer Service: EventHelper
Best for Certificates of Insurance: WedSafe