What Is Wedding Insurance?

Feb 12, 2020

bride, groom, lake, grass

Stress levels are probably high as you book one of the best wedding venues in South Florida, find a reputable caterer, send out “Send The Dates,” and so on. Throughout the flurry of wedding tasks to check off your To-Do list, protecting yourself financially might not cross your mind. To keep you covered in case of setbacks such as weather, property damage, or vendor problems, you need wedding insurance to protect yourself. Purchasing wedding insurance is probably the smartest move to make when you’re getting everything ready for the big day. Our wedding venue professionals at the Deer Creek Golf Club tell you more about wedding insurance.

What Is Covered by Wedding Insurance?

There are two types of wedding insurance: liability insurance and cancellation insurance.

Liability insurance covers property damages to the wedding location and bodily injuries to guests. “If one of your guests slips and falls on the dance floor, liability insurance will cover their medical bills up to the limits specified on your policy,” said Drew Purcell, the business development leader at Progressive Insurance located in Mayfield Village, Ohio. “The most common wedding insurance we sell, by far, is general liability.” [1]

Cancellation insurance refunds your down payments for vendors such as caterers, photographers, DJs, florists, and venues, among others.  Some of the situations this type of wedding insurance covers include cancellations or postponements due to inclement weather conditions, sudden sickness to the bride, groom, or close family member, military deployment, or other situations you have no control over.  Some event insurance policies even make special arrangements for the policyholder, offering a limited degree of compensation for loss or damage of attire, deposits, cake, gifts, or jewelry, regardless of whether or not the wedding proceeds as scheduled or not.

How Much Does Wedding Insurance Cost?

The cost of wedding insurance depends on multiple factors like the venue, the duration of the event, location, number of attendees, and the total amount you’ve paid for the wedding. A great way to scale the cost is using Allstate’s liability insurance policy that starts at around $175, which offers $1 million of coverage. Since insurance rates change depending on the provider, our professionals advise you to thoroughly research the market to find policies at competitive prices.

Do I Really Need Wedding Insurance?

Let’s face it: life tends to throw us curveballs, and if you want to dodge one or two while wedding planning, it’s best to spend the few extra bucks on wedding insurance. For example, if your wedding date is during Hurricane Season, it’s best to be safe and take out a policy for the big event. Basically, how much you’ll pay for a policy is couch money compared to your total expenses.

 

If you have any further questions about wedding insurance or would like to book our wedding venue for the big day, contact a member of our South Florida country club today!

 

Sources:

[1] The New York Times – Wedding Insurance 101