Your wedding day is one of the biggest events in your life and probably one of the most expensive (second to purchasing a home), but protecting your deposits and payments is often overlooked.
Most of the couples we feature on Marry Me Tampa Bay spend at least $30,000 on their wedding day. While most occur without incident (because they hired credible, respected wedding professionals), there are unforeseen circumstances that can impact or derail your big day.
For just a few hundred dollars, you can safeguard your investment through wedding insurance. We recommend Wedding Protector Plan by Travelers, which has been in business for over 160 years and is one of the nation’s largest property-casualty companies.
You’ve likely seen on social media or even on the news how couples have lost money to their vendors, a rogue wedding venue, or because of a natural disaster. In many of these instances, wedding insurance may protect your investment on your wedding day – and these are just a few examples. Here are 8 scenarios where having a wedding insurance policy could help reimburse you for deposits and protect you financially if something goes awry during your wedding.
1. Your Venue Cancels or Is Damaged
Typically, your venue rental and food and beverage (which is normally provided by your venue) make up 40%-50% of your budget, and you often have to put down a hefty deposit months in advance to secure your date.
A lot can happen in those 8-12 months: your venue could go bankrupt, go into foreclosure, be damaged by a fire or significant weather event, or even double book your date.
2. Your Vendor is a No-Show
From your photographer, videographer, DJ, hair and makeup artist, to your caterer, cake baker, and florist, what happens if one of them doesn’t show up on your wedding day?
In 2018, the majority of Travelers' wedding insurance claims (approximately 40% of all) were vendor-related. Below are some examples of losses that have occurred that may be covered by wedding insurance:
- A DJ who got in an accident on the way to a wedding and is a no-show.
- A bakery that had a fire and the cake was destroyed and not able to be delivered.
- The band that you booked to perform at your wedding broke up, their deposit was non-refundable, and they are not going to be able to perform at the wedding reception.
3. You’re Getting Married During Hurricane Season
From June 1 through November 30, nearly half of the year, Florida goes into hurricane season.
Catastrophic weather is one of the many reasons people elect to purchase wedding insurance. Cancellation or postponement of the wedding may be covered if roads are suddenly closed due to the extreme weather, a state of emergency is declared, or if your venue can’t open due to the storm. If your vendors or your venue won’t refund your deposits due to the cancellation, your wedding insurance policy can help reimburse the lost money so that you can begin planning another date.
Insurance can also step in if the couple or their immediate family are unable to make it to the wedding due to travel impediments caused by severe weather or if vendors are unable to deliver on services due to inclement conditions.
Keep in mind that most wedding insurance policies have a 14-day waiting period before coverage takes effect, so be sure to look into your policy early on, before an emergency is imminent.
4. Illness or Injury
If you wouldn’t feel right walking down the aisle due to the sudden injury, illness, or death of your parents, grandparents, or siblings, wedding insurance could cover any deposits you would lose for canceling your wedding.
5. Your Wedding Dress is Damaged or Lost
If your wedding attire is lost, stolen, or damaged, wedding insurance can cover the repair, replacement, or any necessary rental charges if replacement or repair is not possible in time for the event.
This may be particularly important for brides hosting a destination wedding where the dress is lost in transit or if a dress is damaged while it is being altered.
For example, if the airline is unable to locate your wedding dress in time for your wedding date, the coverage would pay for a dress of equal value or for any charges associated with renting a dress. Each claim involves a unique set of circumstances and each scenario is reviewed individually to verify what coverage would apply.
6. Your Photographer/Videographer Doesn’t Deliver Your Wedding Photos/Video
What if your photographer/videographer shows up to your wedding, but never delivers the final product? While it’s not exactly the same, wedding insurance can help pay for the expenses to reshoot your photos or video.
7. You’re Serving Alcohol at Your Wedding
Many venues may ask you to purchase general liability insurance, especially if you’re serving alcohol. This protects you financially and the safety of your guests.
If a guest, or even a vendor, is hurt while attending your event, wedding insurance with optional general liability and on-site liquor liability can help protect you in the event of property damage, bodily injury, or personal injury to third parties at your ceremony, reception, or rehearsal dinner.
8. Military Deployment
If you or your soon-to-be spouse are in the military and are unexpectedly deployed and won’t be back in time for the wedding, your policy could help recover your investment should you need to cancel or reschedule your event.
So How Much Does Wedding Insurance Cost?
Insurance policies through the Wedding Protector Plan for cancellation/postponement coverage come in at a variety of costs, starting at just $160. We recommend that you speak to an insurance agent, who can help you assess the right policy for you to protect the full financial investment you’re placing on your wedding and make sure you have the coverage you need.
Contact Wedding Protector Plan for a free quote for your coverage.
*All statements herein are subject to the provisions, exclusions and conditions of the applicable policy. For an actual description of all coverages, terms and conditions, refer to the insurance policy. Coverages are subject to individual insureds meeting our underwriting qualifications and to state availability.