Wedding Insurance – Do You Really Need It?
Is insuring your wedding a good idea? Who would do such a thing and why?
Wedding insurance has reached national attention after several high-profile instances of severe weather which impacted wedding plans last year. Think hurricanes and tornadoes.
One insurance underwriter has said, “The average price of a wedding last year hit $27,021, according to The Real Weddings Survey. In some areas it can cost double that. Escalating costs are prompting many couples to consider wedding insurance to protect these significant investments.”
When should you consider wedding insurance?
- If you are planning a big wedding that is likely to be expensive, consider insurance to cover your plans. If you buy an expensive car you insure it. People are more aware of the need to protect their investments.
- Many venues require large deposits well in advance of the event. Insurance can protect your investment should the venue not deliver on the contract.
- Couples are urged to have an in depth discussion with their vendors about what would happen if “things go wrong”. If they are not satisfied with the terms of the contract they should seek to amend it. Kristin Koch from TheKnot.com calls wedding insurance “the ultimate back-up”.
Insuring your wedding may be the last item on your list, but it exists and is increasing in popularity and use. An experienced wedding planner can put you in touch with companies that write that coverage and can help you decide if that coverage is for you. Put that on your list of items to discuss with our certified planners.