Thursday, September 1, 2011

Wedding Insurance

Last weekend in the East coast, hurricane Irene welcomed us with unexpected circumstances that had either changed travel arrangements and/or cancelled weddings, which is important that I blog about Wedding Insurance. Weddings are investment, just like a buying a car or a home. It is extremely necessary to purchase wedding insurance for your event because in the event if there are unforeseen circumstances such as weather, death in the family, or a breakup, at least you are protected and you will not lose your money.

In fine print on some vendors and venues contracts it states in their cancellation policy some state they do not issue refunds regardless of any circumstance. Please inquire before you sign the contract in the event of unexpected mishap, if they can reschedule your event so you don’t lose your money and still celebrate your happy moment. This is more of a reason to purchase wedding insurance to not lose money.

I know what you may be thinking, “I have to buy insurance too?” after all the expenses you have made. But think of it like this, you pay for coverage for your automobile, which costs 25k. Yet you could spend 50k or more on your wedding day. Why not protect this investment, too?

Generally there are two types of wedding insurance, which are: Liability and Cancellation/Postponement Insurance.

Liability insurance is used to cover the Bride and Groom from certain types of claims arising from accidents taking place during the wedding, reception, and rehearsal. It offers protection for the wedding couple for damage to the facility caused by a guest or vendor, bodily injury to guests, and alcohol-related accidents they are found liable for.

Cancellation/postponement insurance is designed to safeguard your wedding from unexpected mishaps. It covers cancellation/postponement and losses such as no-show vendors, bankruptcy of vendors, damage to the wedding attire, theft of gifts, and more.

As with all insurance the cost is dependent on the coverage amounts you choose. For example, a quote can be based upon a 75k wedding and the cost was $511.00 for the liability and cancellation/postponement coverage.

Cancellation/postponement insurance will provide coverage if the weather conditions are extreme enough to prevent the Bride/Groom and/or their immediate families from attending the wedding or reception, which renders the event unusable or unsafe.

You can compare quotes with different insurances to get the best affordable rate. A couple of recommendations of wedding insurance are or

Have a joyous wedding, but be smart and protect your investment with wedding insurance!

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