Is Wedding Insurance Necessary? What You Need to Know
With the average cost of a wedding exceeding $30,000, your big day is a huge investment, probably even more than your engagement ring. Yet while it’s common to insure an engagement ring, wedding insurance may not have crossed your mind.
But, as you dig into the wedding planning process, wedding insurance will likely come up. Especially if you’re working with a planner or a wedding venue that frequently hosts large events. Many venues require a wedding insurance policy before you sign your event contract.
So is wedding insurance necessary? We get expert opinion from Joan Prisk of the popular Georgia wedding venue Sugar Shack Farms and cover everything you need to know, including …
- What does wedding insurance cover?
- How to buy wedding insurance
- The total wedding insurance cost
What You Will Learn
Do You Need Wedding Insurance? Types of Policies and What They Cover
Before asking “should I get wedding insurance,” it’s important to know that all coverage isn’t the same. There are several different types of wedding insurance policies and what they offer will differ, so it’s important to shop around and find the best fit.
As Prisk suggested, “Couples should carefully assess their specific event needs when selecting an insurance policy and provider. It’s important to understand the total financial investment, potential risks, and any venue insurance requirements.” She added, “Obtaining multiple quotes allows couples to compare pricing, coverage limits, exclusions, deductibles, and optional add-ons. They should also research each provider’s reputation, unique benefits, and staff expertise before making a decision.”
Wedding Liability Insurance
Wedding liability insurance is similar to event liability coverage. It’s a type of insurance that protects you and the venue over the course of setting up, hosting, and cleaning up on your wedding day.
Depending on your preferred insurance company, your event liability coverage may include or exclude certain types of coverage. For example, BriteCo’s event insurance policies include all of the following:
- General liability coverage, which covers injuries or damages that might occur during the wedding.
- Property damage coverage, protecting you against financial responsibility for any venue damage.
- Host liquor liability coverage, in case issues arise related to guests drinking during the event. As Prisk noted, “Couples feel reassured having event insurance with host liquor liability coverage, especially when they anticipate that some relatives or guests may overindulge or behave irresponsibly, increasing the risk of injury or property damage.”
- Pet liability coverage, in case you have a pet involved in your wedding and something goes awry.
Again, though, it’s important to note that different wedding insurance companies will offer different levels of coverage with their own inclusions and exclusions. However, general liability coverage and host liquor liability coverage are often what’s most requested by event venues that may require you to purchase wedding insurance before your wedding day.
Wedding and Event Cancellation Insurance
Event cancellation coverage is a bit different, as it doesn’t offer extra protection for your wedding venue. As such, typically it’s not a requirement to have for your event to move forward. However, cancellation policies can bring great peace of mind, particularly if you’re investing a substantial amount of money into your big day.
Wedding cancellation insurance allows you to recoup most, if not all, of the cost of your event if something comes up and you have to cancel. It’s not just you that these policies protect, either. They may also protect your investment if one of your vendors cancels on you, helping you recoup your losses and hire a replacement.
Prisk recalled one client that benefitted from having a cancellation policy. “One of my couples avoided financial hardship after canceling their vow renewal ceremony when the bride suffered multiple strokes and required several surgeries. Thanks to their coverage, they received reimbursements and avoided additional costs, helping them stay financially stable.”
Here too, wedding insurance providers will differ in the specific coverage they provide. BriteCo includes the following coverage with wedding cancellation policies:
- Protection in the event of a severe weather event that results in a cancellation
- Protection if a vendor goes out of business and you lose your deposit
- Coverage for professional counseling if needed after a cancellation
You can also purchase a specialty BriteCo plan that will allow you to cancel your wedding for any reason at all – even a change of heart — and recoup up to 75% of your investment.
Do I Need Wedding Insurance?
Based on all of the above, you may be wondering if you still need wedding insurance. It may help to ask yourself a few questions.
Does Your Venue Require It?
Does Your Venue Require It?If your venue requires you to provide your own liability insurance, then you have your answer. If you want to host your wedding at that spot, you’ll need to purchase the required event insurance policy before you can sign the contract and secure your wedding date. Even if the venue doesn’t require a policy, it still may be a good extra measure. As Prisk said, “Couples should keep in mind that the venue’s insurance protects just the venue and its owners, whereas separate event insurance protects the couple’s personal financial liability for accidents and damages.”
Are You Having a Wedding at a Tricky Time of Year?
Wedding cancellation insurance can be a particularly good idea if you’re hosting your event during a time of year when there’s a risk of extreme weather. For example, if your wedding will be in a place that receives a large amount of snow each year, you may want to purchase cancellation insurance for any mid-winter weddings. Similarly, if you’re hosting your big day in Florida during peak hurricane season, cancellation insurance is a great idea.
And if you’re having a destination wedding, insurance can be just as important. Said Prisk, “Destination weddings come with their own set of travel-related risks, making supplemental travel insurance essential. Couples should verify that the event location and all vendors are covered under their policy, including protection against supplier failure.” Plus, she said, “Valuable items such as the wedding gown, rings, and gifts should be specifically listed and insured during travel. Those planning destination weddings may also benefit from a cancel for any reason policy to provide flexibility if plans change.”
Are You Hosting a Backyard Wedding?
If you’re hosting a backyard wedding, check your existing homeowners insurance policy before buying special event insurance. Your existing policy may already include some coverage that could be all you need. If not, you may want an extra policy to protect yourself from potential damages, injuries, or other situations that could make you financially responsible as the homeowner.
Prisk noted, “When planning a backyard, destination, or other non-traditional wedding, couples should evaluate potential travel disruptions, added liabilities, and venue-related risks. Accidents or injuries at a backyard wedding may not be covered by a standard homeowners or renters insurance policy, and even if they are, deductibles and possible rate increases could apply.” She added, “It’s wise to secure additional liability coverage, host liquor liability, rented equipment protection, and any necessary permits for backyard celebrations.”
Are You a Worrier?
Last, but certainly not least, do you consider yourself a worrier? If so, planning a wedding is probably already stressful, and you may find that the peace of mind you get with wedding insurance is well worth the minimal cost. When you can rest easy by just spending less than $100, why wouldn’t you?
Is Wedding Liability Insurance Necessary FAQs
What Kind of Insurance Do You Need for a Wedding?
There are a few different kinds of wedding insurance you can buy. Wedding liability insurance protects you as the event host as well as your venue in case something happens that could potentially result in costly repair bills, medical bills, or a lawsuit. For example, say someone falls on a slippery dance floor and it damages the venue and causes bodily harm. Some liability insurance policies also include coverage related to serving alcohol at a wedding. There’s also wedding cancellation insurance, which protects your financial investment if the event is cancelled or postponed.
Does Wedding Insurance Protect the Wedding Gifts?
It depends on the policy, but there are some wedding insurance policies that will reimburse you for the value of any wedding gifts lost or damaged due to an incident at your wedding.
How Late Can You Buy Wedding Insurance?
You can buy wedding insurance from certain providers all the way up to your wedding day. However, it’s smart to secure a policy whenever you book your venue, even if the venue doesn’t require it, so that you’re covered throughout the planning process. As Prisk noted, “Couples often mistakenly believe that wedding cancellation insurance covers voluntary cancellations, dissatisfaction with vendor services, or minor weather issues. But, in reality, cancellation coverage may not apply if the policy was purchased too recently. To protect their investment, couples should secure insurance as early as possible in the planning process.”
How Much Will You Pay for Wedding Insurance?
Wedding insurance will be one of the most affordable parts of your total budget. You can often find policies for as little as under $100 a month.
Is It Common for a Wedding Venue to Require You to Purchase Insurance?
Yes, it’s very common for wedding venues to require couples to show proof of event insurance before booking the venue. These policies protect both the couple and the venue.
Protect Your Big Day with BriteCo Wedding Insurance
If you’re ready to take the next step, commit to protecting your big day with BriteCo wedding insurance.
BriteCo’s comprehensive liability coverage starts at just $114, and cancellation coverage starts at just $80, providing complete peace of mind for a minimal fee.
Get your free wedding insurance quote from BriteCo now!
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