Why Wedding Insurance is a Must
Professional Insurance Strategies helps couples protect their wedding day which can be a significant financial investment. In this blog we will explain the ins and outs of wedding insurance and why you should add it to your wedding budget today.
What is wedding insurance?
What does wedding insurance cover?
Cancellation or postponement Coverage:
This will provide coverage for certain deposits listed in the policy in the event of a necessary cancellation or postponement of the wedding. Example: if the venue suddenly goes out of business or is inaccessible or there is a sudden illness preventing the honorees, parents, grandparents or children of the honorees from attending then this coverage can reimburse you for lost deposits. Disclosure: COVID-19 does not apply to this.
Photographer and/or Videographer Coverage:
Wedding photographers and videographers can provide if your photographer’s film is defective, or negatives are lost or damaged. For example: if your photographer fails to show up, or loses the negatives from your wedding, this coverage can reimburse you for the cost of reconvening your wedding party to take new photos or video.
Protection for Wedding Gifts:
Event gifts can provide coverage if your gifts are damaged. For example: if your gifts are somehow damaged while on display at the reception, this coverage can reimburse you for repair or replacement cost.
Special Attire Coverage:
Special attire can provide coverage is a wedding gown, or tuxedo is lost or damaged. For example: if you are traveling to your destination for your wedding and the airline loses your attire, this coverage can reimburse you for the replacement of equal value.
Jewelry can provide coverage if an honoree’s wedding band is lost or damaged. For example: if a member of the wedding party loses the ring(s) the night before the wedding, this coverage can reimburse you for the new rings
Coverage for Lost Deposits:
Lost deposits can provide coverage if a vendor goes out of business, declares bankruptcy before your wedding or simply fails to show up. For example: if your band or your limo provider fails to show up, this coverage can reimburse your lost deposit.
Liability Insurance can provide coverage for liability for property damage and personal injuries to third parties at the location of your event. For example: if a guest slips and falls are your wedding, we can provide coverage for your liability.
Liquor Liability Coverage:
This is optional wedding day coverage that can protect against on premises alcohol-related accidents that can result in your liability. Liquor liability coverage is available up to the liability limit on the policy. Liability coverage must be purchased to acquire this additional wedding coverage option.
How much do you have to spend?
We have all different levels of insurance coverage so we can find you complete coverage at a reasonable price. Expect to spend between $150 – 600 depending on what amount of coverage you want. We will shop pricing for you to make sure you are receiving the best price.
Do you really need wedding insurance?
Before buying wedding insurance, check with each of your vendors to see what type of insurance coverage they have. Oftentimes reception venues and carters may already have their own insurance which can be a benefit to you. If they do have insurance, ask for a copy of their policy and then send it to us. We can figure out where you might need additional coverage.
If a venue doesn’t have its own insurance, liability insurance is a must and most likely will be required. You want to be covered just in case any accidents happen at your wedding especially if you have alcohol. Cancellation is always a good idea in general because you never know when the least expected will happen. Especially if you are planning a destination wedding.
How soon should I get wedding insurance?
The sooner the better. If you put a deposit on a reception venue 12 months prior to your wedding date and it burns down before the big day – with the insurance, you will be able to get your deposit back.
Things to consider
Every insurance policy and wedding is different. Here at Professional Insurance Strategies, we will explain the ins and outs to you so you fully understand every detail of your policy.
Get a quote today or give us a call to discuss this further at 623-463-9000. We look forward to ensuring you can enjoy your big day with peace of mind.
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