With an estimated 1.2 million people tying the knot this year, the average couple will spend from $16,000 to $20,000 on their wedding. With such price tag, few can afford to absorb the cost of a major nuptial disaster, like a caterer who doesn't show or a cancelled ceremony due to bad weather.
Wedding insurance policies can provide coverage for non-refundable deposits, wedding photographs, attire, gifts and jewelry, damage to rented property or serious disasters that may delay a wedding, such as a death or illness of a family member or member of the bridal party and all types of natural disasters.
The policies typically can cover up to $2, 00,000 in personal liability if the couple becomes legally responsible for bodily injury or property damage during the wedding or reception.
Generally wedding insurance is offered in pre-set packages or can be designed by couples on their own. So a standard package policy should cost less than $200. By meaning, the wedding insurance cancellation or postponement coverage will pay up to the coverage limit that you select and is subject to a $250 deductible, the nonrefundable expenses incurred when the rehearsal, rehearsal dinner, wedding or private event, reception or honeymoon, which must be cancelled or postponed for certain reasons beyond your control (excluding Change of heart).
It also includes sickness or injury to the bride, groom or anyone essential to the wedding, damage or inaccessibility to the premises where the wedding is to be held, loss or damage to the bridal gown, corporate or military foreign posting and job loss.
The coverage also includes adverse weather conditions which prevent the bride, groom or any relative whose presence at the wedding is essential or, the majority of the guests from reaching the premises where the wedding is to take place.
Consider the weather coverage is available only if the policy is purchased 14 or more days from the date of the event.
- "Failure to show" of the minister, or the person engaged to perform the ceremony is covered for Cancellation or postponement.
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