The average cost of a wedding these days is around $20,000, so your ceremony and reception are probably going to be the most expensive thing you and your partner will ever plan.
Getting wedding insurance could be a good idea since so much money is at stake. But it’s important to know what a policy will and won’t cover before you buy it.
A wedding insurance policy can help protect your finances in case something goes wrong on your big day.
If someone gets hurt or something goes wrong during the ceremony or reception, wedding liability insurance can cover the costs.
If you have to cancel or move your wedding because of bad weather, an injury, illness, or a problem with a vendor, you can get your money back through wedding cancellation or postponement insurance.
Wedding cancellation and postponement insurance starts at about $100, and wedding liability insurance starts at about $125.
What is insurance for a wedding?
Wedding insurance is a type of special event insurance that protects your finances in case something goes wrong with your big day. There are mainly two types:
Liability insurance for a wedding.
Liability insurance will help pay for any damage to property or injuries that happen at your event. For example, if a wedding guest drinks too much at the open bar and breaks a window at the venue, liability coverage could pay for the damage.
Cancellation or postponement of the wedding. If the ceremony or reception has to be cancelled or moved because of something out of your control, wedding cancellation or postponement insurance will pay you back. For example, if the ceremony had to be cancelled because of bad weather (like a hurricane or a big snowstorm), illness, injury, or because a vendor went out of business, your policy could pay for it.
Riders for Wedding Insurance
Wedding insurance usually only covers certain things, but you can buy extra coverage by buying “insurance riders.” The following are examples of common add-ons:
Serve in the military. If you or your partner are in the military or active reserves and are called to duty, a military service rider would pay for the costs of rescheduling your event.
Dresses for the bride and groom. This rider will help pay for new clothes if the store where you bought your wedding dress or tuxedo goes out of business, leaving you without your wedding clothes or deposit.
Honeymoon. A honeymoon rider could pay for your travel costs if you have to cancel your trip because of bad weather or illness.
What isn’t taken care of by wedding insurance?
Not everything that could go wrong at a wedding is covered by insurance. Even though the terms of each policy can be different, the following are usually not covered:
Cost. In general, wedding insurance doesn’t cover cancellations or postponements that have to do with money. For example, say you find out that the cost of the ceremony and reception is more than you had planned, and you decide to cut back. If this happens, your wedding insurance won’t cover lost deposits or other costs.
Changed my mind. If you or your partner decide you no longer want to get married, your policy probably won’t pay for the costs of cancelling the wedding.
Bad weather is nothing new. Your wedding insurance will only pay out if you have to cancel or move your wedding because of extreme weather. This means that you, your partner, or at least half of your guests can’t get to the venue. The policy won’t pay you back for more common weather problems, like rain on the day of your beach wedding.
Before you buy a policy, you should carefully read the terms and exclusions so you know what it covers and what it doesn’t.
How much does insurance for a wedding cost?
How much wedding insurance costs depends on a number of things:
Where you are
The issuing insurance company
Amounts of coverage
In general, a simple policy for cancellations and reschedules will cost between $100 and $500. A general liability policy that covers accidents or injuries up to $1 million costs about $125.
It’s a good idea to get quotes from more than one insurance company and compare them. Check out our list of the best wedding insurance companies if you don’t know where to start.
Does insurance for a wedding cover the gifts?
Most basic wedding insurance policies don’t cover gifts that are lost or stolen unless you add a “wedding gift rider” when you buy the policy.
Do breakups get paid for by wedding insurance?
Most wedding insurance policies don’t cover cancellations because the couple broke up, which is sad.
Where can I buy insurance for my wedding?
Some of the biggest insurance companies as well as companies that only sell wedding insurance sell it.
If something goes wrong on your big day, a wedding insurance policy can help cover the costs. Even though a policy for a typical wedding can cost several hundred dollars, given how much the average wedding costs today, it could be well worth the money.
You should start looking for wedding insurance as soon as you start making plans. Compare policies and rates from different companies, and make sure to read the exclusions and restrictions carefully because policies vary in what they will and won’t cover.