With the current COVID-19 crisis causing many couples to have to postpone, or worse, cancel their wedding plans a lot of people may be wondering what they can do to prevent a loss of investment if they are currently planning a wedding.
While you are planning your big day, you are always hoping for the best. This means perfect weather, perfect venue, and vendors and a perfect wedding party. Unfortunately, that isn’t always the case. Oftentimes there are events or incidents that take place and can cause a wedding to be canceled or rescheduled. There are also smaller things that can happen that could cause a vendor to backout, property to be damaged or illness to strike.
Of course, we like to focus on all of the fun and exciting parts of wedding planning, but we also think that it is important to be as well prepared and protected as possible when you are spending a lot of time and money on your dream wedding. In order to plan responsibly, we highly recommend obtaining some form of wedding insurance.
Wedding insurance is a great way to protect the investment you have made by planning your day. Claims will cover circumstances that are beyond the control of the couple. This means that it WILL NOT cover things like cold feet, switching vendors or omaha event halls or losing the rings. What it does cover is bad weather, venue damage, illness or other circumstances that are out of the couple’s control.
There are a lot of reasons that a couple may have to file a claim due to unforeseen circumstances. Most people get insurance for fear of having to cancel the wedding, but there are actually a lot more circumstances that insurance could come in handy for. Here are what the majority of claims are filed for:
- 29 percent - cancellation or postponement
- 28 percent - accident or injury
- 24 percent - issues with wedding vendors
- 15 percent - venue damage
- 2 percent - lost/stolen gifts or personal items
- 2 percent - dress damage
We recommend getting wedding insurance for any couple that is making an investment financially. This is the best way to protect yourself from things you can control. So, to determine if you need insurance it is important to check with each of your vendors to see how they are covered. Oftentimes Omaha event halls, caterers or other vendors will already have insurance of their own, which means you do not need to be double insured. Ask each vendor for a copy of their insurance policies to make sure you are covered.
Once you have decided what areas you need to be covered, you can begin figuring out what type of insurance you need and where you want to get it from.
- Liability - this type of insurance will pay for damage to the Omaha event halls that happen during the event. It will also pay medical costs if someone becomes injured or gets sick at your wedding
- Cancellation or postponement - this insurance will reimburse you for costs when it is necessary to cancel or delay your wedding. This can include things like extreme weather, injury or illness in the wedding party or other uncontrollable factors. This will also help pay for the cost of a new ceremony and reception if it needs to be rescheduled.
- Additional - things like “deposit coverage” can also be sold as a separate policy
If you are wondering where you can get covered, most people can get insurance through an existing homeowners insurance or renters insurance policy. You can also get a separate wedding insurance policy or a social event insurance policy.
For a typical wedding, the cost for minimum coverage starts at around $100 to $200; however, it can exceed $1,000 for much pricier ceremonies. It all depends on the amount of investment. Most wedding planners recommend getting your coverage sooner rather than later because you never know when circumstances will happen. Make sure to check with the insurance company, because some have limitations on how far in advance you can purchase your coverage.
When planning your wedding, it is important to have fun and be exciting, but it is also important to be responsible and plan accordingly in case of an emergency. Wedding insurance isn’t the most glamorous thing to talk about, but it will save you some stress in the long run!