A fairy tale wedding is the goal for every planner. Of course, the type and tone of that fairy tale unique to the bride and groom. The goal, of course is to create an ideal event at which the new couple can start their lives together. But as the old adage goes, “the best laid plans of mice and men oft times go awry.” Sometimes even the most meticulous of arrangements can hit a snag. This is the time when looking into wedding insurance was a smart addition to the planning process.
Actually, “wedding insurance” is somewhat of a misnomer. A special event policy can be purchased for other celebrations: a milestone anniversary party, a bar or bat mitzvah, a quinceañera, graduation party or any special occasion. Special event insurance is designed to provide financial protection if you have to cancel or postpone a gathering due to adverse weather and natural disasters such as hurricanes.
Most policies will also cover an event cancellation in the event a death or of serious illness or injury of a main participant, as well as a missing clergy member or key vendor, such as a caterer or photographer. Coverage may also be available should the bride or groom suddenly be called for military service, tuxedos or gowns become unavailable due to stores going out of business or damage to the clothing, or the necessity to cancel a honeymoon trip due to illness, bad weather or other circumstances.
If you are planning a backyard wedding at your home, you may want to review your homeowners or renters policy to see if any additional liability coverage is needed. Also check to see if your current coverage will cover the loss or theft of wedding gifts and wedding rings. You may need to purchase a one-time endorsement.
If you are planning a milestone event, you may want to think about special event insurance. Like other kinds of insurance coverage, the time to invest is before you need it. Talk to your insurance professional about the coverages available and which may be best for you.