If you are like most couples, you are probably surprised by the amount of expense that goes into preparing for your big day. One expense that many grooms forgo in the name of grueling expenses is wedding insurance – especially if you’re wondering how much wedding insurance costs.
After all, why spend so much extra money just in case something go wrong on or before your wedding day? In reality, however, wedding insurance is a smart expense and one that could very well come in handy in some way, shape, or form.
“Wedding insurance not only gives peace of mind to a couple getting married shortly during the planning process, on their wedding day, and long after their event, but it can also help avoid major problems if something (s) does not go well ”, explains Giovana Duailibe, CEO of Belief Wedding Planners.
How much does wedding insurance costs?
The main areas that wedding insurance can cover, according to Duailibe, include if the venue cancels for any reason, a vendor doesn’t show up on the wedding day, and if the couple needs to cancel due to illness or other emergencies, or even if someone is injured during the event. “It’s important to make sure you read the entire contract, as the policies may be different,” he says.
Most professionals recommend wedding insurance regardless of the couple’s situation. “From damage to venues to guest dresses to vendors’ supplies, everything is covered and thousands of dollars can be saved in case something happens,” says Rui Mota Pinto, tailor and wedding planner.
“The difference should be in the amount the insurance doesn’t cover, whether or not a couple should have insurance in the first place.”
Like most things, not all wedding insurance plans are created equal. The answer to the questions about “how much does wedding insurance cost” is that rates can vary drastically based on what you insure, deductibles, coverage, as well as the insurance company.
“If the couple already has home or auto insurance, they should contact their insurance company to find out if they have wedding insurance,” suggests Jacqueline Vázquez of Lifetime Events by Jacqueline in Scarsdale, New York.
If not, other companies offer wedding insurance, for example, Travelers, Website, Websafe, to name a few.
Duailibe recommends not opting for the most basic plan available, adding that full coverage or an event of such magnitude as a wedding is best. “The insurance company will ask the couple the cost of the entire wedding (or an idea of that), which will then be priced,” he says.