By Hadley Malcolm
April 10, 2014
Springtime means the start of wedding season. But here’s one part of wedding planning you may not have thought of: wedding insurance.
The average cost of a wedding is nearly $30,000 now, according to a recent survey from wedding site TheKnot. And the day doesn’t always go as planned. Or even happen at all. In which case, you’ll probably want to ensure you’ll get some of that money back.
Companies such as Wedsure and Wedsafe offer insurance for your big day, for everything from the venue to the dress to the jewelry. Both companies offer cancellation and liability insurance, which many venues require couples to have. Think about it: A wedding guest drinks too much, gets in an accident on the way home, all of the sudden you’re being sued by the victim.
It happens more often than we realize, says Janet Ruiz, a spokesperson for Wedsure, which is backed by Fireman’s Fund Insurance Company. Wedsure also allows you to purchase insurance against your photographer, gifts, rented property, and the bridal party’s dresses.
You can even insure the coverage of professional counseling for the bride or groom if the wedding is canceled. Though Ruiz acknowledges it’s more likely the parents involved in planning and paying for a wedding would buy this option than the actual couple.
The cost starts at $95; the average is about $200, Ruiz says.
“It’s like inviting one other guest to your wedding,” she says. “It’s so inexpensive, why not get (it)?”
Wedsure lists horror stories on its site, situations in which people used their insurance coverage. At one wedding, 40 guests got food poisoning. At another, an elderly attendee was knocked over and broke both hips. And one bride woke up the day of the wedding to find her ring bearer had finger painted all over her dress, Ruiz says.
“Anyone serving liquor, renting a facility, spending money that they can’t afford to lose,” should be getting wedding insurance, Ruiz says.
In the wedding realm, that means just about everybody.