Why you should absolutely get Wedding Insurance
When planning a wedding, there are a million details to consider, but one of the most crucial—and often overlooked—is wedding insurance. Some venues require that you have insurance, so always check if they have any specific requests or requirements. However, even if it's not mandatory, we highly recommend that you purchase insurance for your wedding day.
Why? Take it from a bride who had a rain-soaked wedding for Plan A:
things can and do go wrong, often when you least expect them and completely out of your control.
True Story:
I once had a guest almost fall through a window while intoxicated. The window shattered and it could have trickled into other issues had it been earlier in the night. Thankfully the couple had insurance to take care of the cost of the replacement window and their Liability insurance covered the medical expenses to protect them from potential lawsuits from the guest.
Why is Wedding Insurance Important?
If you haven't heard about the recent Royal Fig incident, let me fill you in.
Royal Fig, a trusted catering company in our network for over 15 years, shocked the wedding community this year when they abruptly went bankrupt. The owner was involved in a financial scam that led to the company's collapse, leaving hundreds of couples stranded and out of all the money they had invested, from deposits to final payments. And with bankruptcy, there was no money left to refund these devastated couples.
Imagine planning your dream wedding, carefully selecting a trusted vendor, and then being blindsided with news like this. If these couples had wedding insurance, they would have had a better chance of getting their funds back. This incident not only made planners feel terrible for recommending a vendor that turned out to be unreliable, but it was also a devastating blow for all those couples who found themselves scrambling to find alternative solutions or risk losing all their money, no matter how close their wedding day was.
While incidents like the Royal Fig scandal are rare, they do happen. Not many of us saw this coming. And unfortunately, many other unforeseen situations could impact your big day—most of which are entirely out of your control.
How Wedding Insurance Can Help
Here are a few specific ways wedding insurance can protect your investment:
1. Weather-Related Disruptions
If severe weather, like heavy rain, flooding, or a storm, forces you to cancel or postpone your wedding, cancellation or postponement insurance can cover the costs associated with rescheduling. This may include:
Rescheduling Costs: Reimbursement for non-refundable deposits or payments to venues and vendors.
Alternative Arrangements: Coverage for additional costs like renting tents or securing a backup indoor venue at the last minute.
Lost Expenses: Reimbursement for prepaid expenses like catering, florals, and decor that cannot be refunded if the event is canceled rather than postponed.
While minor inconveniences like light showers might not be covered, insurance can provide critical financial relief in cases of severe weather that genuinely disrupt your plans.
2. Vendor Issues
As seen in the Royal Fig incident, vendor problems can cause significant stress and financial loss. Wedding insurance can protect you if a vendor:
Goes Out of Business: If a vendor declares bankruptcy or otherwise ceases operations, insurance can help recover your lost payments.
Fails to Show Up: If a vendor doesn't show up or deliver as agreed upon, your policy can reimburse any deposits or fees paid.
Provides Substandard Services: Coverage may also extend to poor-quality services, such as inadequate catering or unprofessional photography.
3. Illness or Injury
No one wants to think about getting sick or injured right before their wedding, but it happens. Wedding insurance can help if:
The Couple or Immediate Family Falls Ill: If either member of the couple or a close family member is too ill or injured to attend, insurance can cover the costs of postponing the event.
Injury at the Event: Liability insurance can protect against potential lawsuits or medical costs if someone is injured during the wedding.
4. Property Damage
Weddings often involve a lot of people, alcohol, and high-energy celebrations, which can sometimes lead to accidents or damage to the venue or rental property. Insurance can cover:
Accidental Damage to the Venue: If someone spills red wine on a carpet, breaks a chair, or damages other property, liability insurance can cover the repair or replacement costs.
Damage to Rental Items: Insurance can also cover damage to rented items like tents, chairs, or audiovisual equipment.
5. Military or Job-Related Postponements
Life doesn’t pause for a wedding. If one of you is in the military and called to active duty or if a job situation forces a postponement (e.g., an essential work trip), wedding insurance can help recover the costs associated with rescheduling.
Types of Wedding Insurance
There are two main types of wedding insurance:
Liability Insurance: This covers injuries, property damage, or accidents that may occur during your wedding. Some venues may require you to have this, so it’s crucial to check with them first.
Cancellation or Postponement Insurance: This protects you if your wedding needs to be canceled or postponed due to unexpected situations, like severe weather (like rain-soaked weddings), a vendor going out of business, or a sudden illness.
Don’t forget to add on Host Liquor Liability Insurance (BYOB)
This is essential for BYOB weddings, as it protects you from potential legal and financial risks if alcohol-related accidents or incidents occur. Even if guests bring their own drinks, you're still considered the event host and could be held liable for injuries, property damage, or accidents caused by intoxicated guests. This insurance can cover legal fees, medical expenses, and damage costs, and it often meets venue requirements for events involving alcohol. Hiring professional bartenders to monitor alcohol consumption and checking venue policies can also help reduce liability risks and ensure your day goes smoothly.
How Much Does Wedding Insurance Cost?
The cost of wedding insurance varies depending on the coverage you choose, the size and location of your wedding, and any additional riders you may add to the policy.
Liability Insurance: Typically ranges from $75 to $200, depending on the amount of coverage required by your venue.
Cancellation or Postponement Insurance: Can range from $150 to $600, depending on the total cost of your wedding and the extent of the coverage you need.What Does Wedding Insurance Cover?
Vendor Issues: If a vendor doesn’t show up, goes out of business (like Royal Fig), or otherwise fails to deliver on their promises, your policy can help you recoup any non-refundable costs.
Weather-Related Incidents: If severe weather conditions prevent you, your guests, or your vendors from arriving, insurance can cover the costs of rescheduling.
Property Damage: If any damage occurs to the venue or equipment, your policy will cover repair costs.
Illness or Injury: If the couple or an immediate family member falls ill or is injured, the insurance can cover costs related to rescheduling or canceling the wedding.
Where to go:
Here are the top places we recommend purchasing insurance:
You can also check with your current insurance companies.
Crowd surfing happens a lot... imagine your boys drop you & you now have a new fun bill to pay after the wedding is over for the cast on your arm.
While no one wants to think about everything that could go wrong on their wedding day, it's better to be prepared. Wedding insurance offers peace of mind and can save you from significant financial losses in case of unforeseen events, like the Royal Fig debacle. You protect your car, house, ring, flights and furniture, why would you not invest in protecting one of the most important days of your life.
Talk to your wedding planner, do your research, and make sure you’re covered—because when it comes to weddings, it’s always better to be safe than sorry.