Wedding Insurance: Do you Really Need It?

It’s every bride’s nightmare: a tornado blows through your wedding venue the day before the wedding. Lightning blazes up your wedding gazebo. A quick YouTube search of “wedding disasters” is enough to leave even the most level-headed bride-to-be tossing and turning in a sweat. And, while wedding insurance may not save your wedding day, it can potentially save you thousands of dollars. But do you really need it?

Potential Wedding Disasters

Broken wineglass

Wedding insurance may not save your big day, but it will help you recoup your costs in the event of a wedding disaster.

Wedding Disaster: Your wedding venue declares bankruptcy and closes up shop the day before your wedding. They’ve pocketed your deposit, and that’s not all. You’ve also made deposits with photographers, caterers, and other wedding vendors… and if the big day is cancelled, all of that money is lost. And, you don’t even want to think about the cost of plane tickets purchased and hotel rooms reserved. While wedding insurance can’t save the day, it can help you recoup those costs.

We Recommend: While this may be a worst-case scenario, it is a possibility. But, don’t let such worries ruin your wedding plans. Whether to purchase wedding insurance is up to you, but it is essential to have a solid backup plan in place. Consider where you may move the wedding to at the last minute if necessary, even if it’s just to someone’s back yard. Let all of your vendors know what your backup plan is and make sure you have their contact info on hand just in case. You probably won’t need it, and your wedding will likely move forward as planned. But, you’ll rest better knowing you have a plan if something does go wrong.

Wedding Disaster: Your hair and makeup team or photographer doesn’t show up for the big day. They pocket your deposit and change their phone numbers. And what happens if the photographer’s camera is stolen from the reception at the end of the night? You may still be required to pay the photographer for his services despite the fact that your wedding pictures are gone. While wedding insurance won’t ensure your wedding isn’t ruined, it will reimburse you the cost of those expensive deposits.

We Recommend: First, ask for references. Make sure you hire wedding vendors who are well known and established within your community. And even then, you should always have a back-up plan. Make a list of every single vendor you have hired and, one-by-one, ask yourself what you will do if each vendor does not show. 

Wedding Disaster: A wedding guest wrecks the dais at the wedding reception, and the venue holds you responsible. Wedding insurance will cover the cost of the damage, potentially saving you thousands.

Wedding Gown Preservation KitWe Recommend: You know your guests better than anyone. Consider just how much alcohol you will provide for your guests and identify any guests who may pose a problem. Unfortunately, some adult guests may need a ‘babysitter’ to keep an eye on them and cut them off when they’ve had too much. You may even choose to ask the bar to cut off all alcohol consumption if you believe the reception is getting just a bit too rowdy.

Wedding Disaster: A guest spills an entire glass of red wine on the skirt of your wedding dress. While wedding gown cleaning and preservation will likely save your gown, a very large stain just may not come out. Wedding insurance may cover the cost of replacing the skirt of your gown, but a replacement just won’t be the same, will it? This is one of those instances where you must compare the cost of replacement vs. not replacing. Do you really want a replacement bridal gown to store away, or would you prefer to save the original, stain and all?

We Recommend: Whether you opt for wedding insurance or not, we recommend that you purchase a wedding gown preservation kit well in advance of your wedding day. Make arrangements with a trusted friend or relative to take charge of your wedding gown as soon as you remove it at the end of the big day.

So, do you need wedding insurance? This is a question which may only be answered by each individual couple. Factors to consider include the cost of the products and services you are purchasing as well as the opportunity cost of not insuring each. It is important to research and understand all of your options and make the right choice for your individual situation.

Check it out

  • Blogger Lisa Kelly discusses the importance of getting your wedding ring insured on the Beantown Bride Blog.
  • More on wedding insurance on the Austin Wedding Blog.
  • Linda Rey, a licensed insurance agent at Rey Insurance, discusses the financial side of the wedding insurance trend on the Equifax Personal Finance Blog.

~Mandy

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