Wedding Insurance - Say "I Do"

Many couples ask whether or not they should purchase wedding insurance. In my opinion the answer should be an unequivocal “YES.” After all, the average cost of a wedding today is around $26,000. If you invested $26,000 in a new car, would you neglect to insure it? It just makes sense, then, to purchase a wedding insurance policy that will cover many of your wedding costs if you need to postpone or cancel the ceremony and reception. This type of wedding insurance is useful especially if your cost of rescheduling the wedding will be very high.

Wedding Insurance is something that many couples overlook when planning a wedding because they don't believe they will need it. After all, there is nothing romantic or exciting about wedding insurance and what could possibly go wrong. If you were to ask couples who had their weddings and receptions planned in New Orleans before Hurricane Katrina hit, what advice do you think they would give you. Now a hurricane is an extreme weather condition, but wedding insurance provides coverage for just such a weather event. Wedding insurance, however, will not cover a postponement of your wedding due to a rainy day.

Once you've selected your vendors and submitted your deposits, you have made a serious investment. Wedding insurance protects your investment throughout the planning process, and the event itself. Consider these events that are covered in your wedding insurance policy.

*the caterer or your reception venue
closes down
*your wedding photographs are damaged
or lost
*a family or wedding party member is
injured,becomes ill or dies
*lost or stolen wedding rings*
*your wedding attire (if your dress is
damaged or fails to arrive)

Sorry kids, you're out of luck if either of you gets cold feet. Wedding insurance does not cover a last minute change of mind.

Just like any other type of insurance, wedding insurance is offered in a number of different policies. When compared to the cost of the event itself, wedding insurance is relatively inexpensive and is as important to your special day as your bridal gown, wedding cake and flowers. Whether you are having a destination wedding or a large wedding in your home town, wedding insurance is a good idea and a small price to pay for peace of mind.

*Financial adviser, Suze Orman has this advice regarding insuring your rings:
“Your smartest move is to insure the ring through a floater/rider to your existing homeowner's or renter's insurance policy. Don't assume that your policy's existing jewelry coverage is good enough. Typically this covers you only if the ring is stolen. By adding coverage through a floater/rider, you will be covered for all risks. If you lose the ring or it's lost in a fire, flood, or other calamity, your policy will kick in. You'll even be covered if the stone falls out and is lost.”

Sheilah is a wedding planner/decorator and creator of the online wedding supply store, http://www.allthatsclassy.com
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