Like with all types of insurance policies, what a wedding insurance policy covers will vary from one provider to another and often there are different levels of cover, from the very basic (often relatively inexpensive) to the most comprehensive (you can expect to pay a bit more of a premium here). Below are just some of the components that are typically covered by wedding insurance:
- Cancellation or Postponement – Unfortunately, unforeseen circumstances do occur and sometimes the unthinkable happens. In such cases, the wedding insurance will cover the pre-paid costs incurred when a wedding is unexpectedly cancelled or postponed. Coverage will typically include cancellation by the venue if for some reason it becomes unavailable e.g. due to major damage; sickness, injury or death to the bride, groom or a member of the wedding party, adverse weather conditions which prohibits the wedding from going ahead due to major disruption to the venue or transport services e.g. flooding, severe storms, snow etc.
- Rescheduling of Wedding – In the event of a wedding having to be cancelled or postponed, wedding insurance will reimburse the additional cost of rescheduling the wedding and reception to a later date, often within a specified time period e.g. within 45 days of the original wedding date.
- Wedding Attire – Should a tear occur to the bride’s wedding dress or the groom’s custom made tuxedo be stolen from the hotel room, wedding insurance will typically cover the cost of replacement for attire that is lost or stolen or repair to damaged attire. Find out which celebrity’s wedding dress almost went up in flames as she walked down the aisle in our Real Life Celebrity Wedding Disasters post.
- Wedding Rings – Being so small, rings can very easily be misplaced. In the event that they are lost, stolen or even damaged, wedding insurance will cover the reimburse or replace the rings up to the covered amount.
- Wedding Gifts – Gifts can be very valuable items so many policies will provide cover (often within a specific time frame) in the instance of loss, damage or theft.
- Supplier Failure – For whatever reason a supplier fails to meet their contracted obligations (and provided an agreement/contract has been signed with the supplier), whether it be the unfortunate demise of the business due to bankruptcy or just an inconsiderate no-show, wedding insurance will reimburse the irrecoverable deposits paid and contribute towards the costs incurred in having to rearrange for an alternative supplier.
- Wedding Cars and Transport – Wedding insurance will typically cover the cost of having to arrange similar, alternative transportation as well as recoup any irrecoverable deposits already paid should the hired vehicle or driver not come through on the big day.
- Marquee and Equipment Hire – Accidents can and do happen more often than you think, particularly when it involves a lot of people having fun(and alcohol!) so wedding insurance often protects against accidental damage to marquees and any equipment hire such as flooring, chairs, tables, lighting etc.
When it comes to the cost of wedding insurance, again, this will vary greatly from one provider to another and will depend on the level of coverage you want from the policy, ranging from as little as $215 to as much as $1,300. The level of coverage you purchase will also affect how much you can claim and typically the higher the coverage, the more in terms of expenses you’ll be able to recoup should any hiccups occur. Learn more about what is typically covered under a basic wedding insurance policy here.
Before deciding on which insurance plan to go for, always make sure you fully understand the details (and always read the small print) e.g. what is not covered by the policy as well as what is, who the coverage extends to, if any, e.g. key members of the wedding party/ members of the bride/groom’s immediate family and the claim period i.e. the time frame within which a claim can be made to be able to recoup any losses etc.