The other day I was asked “What is Wedding Insurance, and do I really need it?”
I’m sure the case for many is that your mind automatically drifts to “Money Grab” but just wait a second…
Changing topics for a second, lets think about car insurance. You pay for it every month.
You rarely, if ever use it. Except in the unlikely event that you’ve been in a little fender bender or someone has damaged your car.
But imagine if you didn’t have any insurance at that time? Depending on the circumstances you could be hit with some heavy duty fines and damage repairs, etc. The reality of it is, it’s there to protect you when you need it.
The same idea goes for Wedding Insurance.
Allow me to paint you a little picture.
The average wedding in Canada is $27,000.00. So lets say your wedding budget is the same.
You’ve spent countless days, nights, and hours planning and pulling all the pieces of your dreamy wedding day together.
All of your vendors are booked and everything is going just so.
Suddenly your fiance comes home with some bad news. He’s been laid off!
With the wedding just 1 month away there are a number of vendors who still require their final installment and you can’t afford all of that on your own, and how will he find a suitable job in that short of time? Wedding Insurance is there to cover that type of unexpected occurrence.
What does Wedding Insurance actually cover?
Take a look at a few scenarios.
Keep in mind, they could happen to anyone …ANYONE!
- your chosen flower supplier suddenly goes bankrupt
- the bride’s dress is damaged
- the officiant or minister doesn’t arrive and you need to postpone
- the limousine is in an accident and the company isn’t able to supply a vehicle
- you are unexpectedly laid off from your job two months before the wedding and can no longer afford the services you booked
- your chosen venue is suddenly unable to host your wedding
- you need to postpone due to adverse weather
- the photographer loses the camera memory card and you need to have new photos taken
- the best man loses the rings
- your gift table is knocked over and gifts are damaged
- someone drops the cake
Where does one go to get Wedding Insurance?
You can look to your current insurance provider for their fine details and what prices and packages they can offer you.
However there is a time frame in which Wedding Insurance would need to be set in place, so be sure to ask your insurance provider what the time requirements are as it may vary with each provider.
Each Insurance company is different so shopping around for the best price, and plan would be a wise decision.
Sears is another place that offers Wedding Insurance with numerous packages available. For example they offer a “Pewter” Package for $130.00 that allows coverage for up to $5,000.00
So in answer to the initial question “Do I really need Wedding Insurance?”
In my opinion, it is completely up to you, but definitely something to look into. (For only $130.00 you’d be crazy not to)
You can’t put a price on peace of mind….