Safeguarding the ceremony
A little insurance goes a long way
Your car may be in good hands - but is your wedding gown?
Just like the ones that protect your auto, home and life, insurance policies that cover the many facets and finances of a wedding are growing alongside nuptials' ever-rising costs.
"Events become more and more expensive, and [insurance] is being required by more and more people," says Andreas Diwing, operations specialist for WedSafe Wedding Insurance, North Hollywood, Calif.
So what specifically do policies cover? Loss or damage to any key elements of the wedding, including the cancellation or postponement of the ceremony due to circumstances beyond the purchaser's control, says Diwing:
• Weather - hurricane or blizzard shuts down a celebration
• Medical emergencies - bride comes down with strep throat on the wedding day; guest of honor has emergency surgery
• Military deployment - bride, groom or honoree has their leave withdrawn
• No-show vendors - business ceases operations, burns down or doesn't show up
• Stolen gifts - money or gifts stolen during the celebration
• Event attire and jewelry - gown or ring is lost or damaged
• Photo or video loss
A pair of cold feet, however, is not covered.
Event liability insurance also is available, which will protect the host from being named in a lawsuit for personal injuries, property damages or alcohol-related incidents.
WedSafe's 10 policy levels range from $185 to $1,150. Liability insurance is about $200 extra.
As the total cost of events climbs, people seek insurance to protect themselves, says Diwing.
"Even a modest wedding or party can represent a significant financial investment for many couples," he says. "Cancellation insurance provides protection while adding only a small cost."
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