Wedding Insurance – Do I Really Need It?

As you begin planning your wedding day, the ‘what if’ questions will probably start coming to mind….What if a hurricane comes through my city on my wedding day? What if the bridal salon goes out of business after I’ve paid for my dress? What if my caterer is a no-show? Every bride hopes to not have to deal with these situations, but the fact of the matter is….things can happen! These ‘what ifs’ can cause anxiety and stress, but there is a solution to help you prepare for these possibilities! Wedding insurance policies are available to help plan for these and other unforeseen circumstances.

The concept of wedding insurance originated in London in 1988 and has been available in the United States since 1993. Wedding insurance is becoming increasingly more popular, particularly in light of businesses closing due to the economic downturn.

Policies can be purchased to cover such things as: refunding non-recoverable expenses if there is a last minute postponement, replacing damaged wedding gifts, recreating ruined wedding photos, or providing liability insurance if your venue requires it. In 2009, USA Today presented some interesting statistics on the most common causes of wedding insurance claims (statistics courtesy of The Travelers Companies). Forty-three percent of claims were due to problems with caterers, photographers or other vendors. And other claims were for such things as broken items and weather issues. Please click on the link below for more details on the report,.

http://www.pancommunications.com/_docs/32609USAToday.pdf


Wedding insurance, as with any other type of insurance, is an excellent way to protect the financial investment you’ve made in your wedding. Before making a decision on a policy, be sure to closely read and understand the limits of liability (those items that are not covered by your policy). You should be absolutely clear on what your policy covers. In addition, you should review your current insurance policies (your agent can assist with this) to make sure you are not buying duplicate coverage.

Check out the following links to learn more about wedding insurance coverage.

www.nasep.org
www.protectmywedding.com
www.weddinginsurance.com


Although you may never need it, wedding insurance is a smart move to prepare you for the unexpected!