Wedding Minister on Insurance for Your Wedding
Insurance companies offer policies that can cover unexpected loss or liability.
Insurance can be purchased to cover almost any potential loss. The big three, auto, home and life, are types of policies that have been around for years and are frequently purchased. Less familiar are policies that protect our travel and products, though these often are offered at the point of sale whether the purchase is online (think expedia.com) or at a retail store (think Best Buy).
Given that the average spent on a wedding in the United States is just over $25,000, perhaps it should come as no surprise that insurance companies developed policies to cover risks associated with your wedding. Travelers Insurance markets what it calls a Wedding Protector Plan that promises to cover some of the more common things that might go wrong on your special day, including weather delays, cancellations by venues or vendors, loss of photographs or theft of wedding gifts. Fireman’s Fund markets similar coverage under the name Wedsure as does Affinity Insurance under the name WedSafe.
In addition to loss coverage, there is usually an option to purchase liability coverage. This may be the better investment in terms of risk and potential loss and can cover both the venue and you. It is not uncommon for the venue where the wedding is being held to require liability insurance in case the location incurs damage as a result of your celebration. If you serve alcohol at an event you host you can be held liable for damages caused by someone that drinks too much whether at the celebration or on the way home.
In terms of cost, the broader the coverage, the more expensive the policy. You should be able to purchase loss and liability coverage for under $400.00. You have to decide whether that is unreasonable for a policy that only covers 24-48 hours of your life.
As with any insurance, the devil is in the details. Obviously the insurer wants to limit the conditions under which it will have to pay a claim after it collects your premium. One of the limitations will be the time that the policy is in effect. If the policy coverage ends at 2:00 a.m. and your guests decide to party on into the early morning, there may be no coverage for the fight that breaks out over an inappropriate comment made by your distant cousin.
Make sure you read the policy and its limitations very closely before you finalize the deal. And make sure you betrothed is the one for you. Most policies do not cover a change of heart, at least not without an additional premium.
Triange-Minister.com would love to help make your wedding day special. Call, email or use the Contact Form for additional information.