Saying your I Do’s should not involve you saying ‘I should have’ after the day is complete. Many brides and grooms struggle to fathom the cost of a wedding, spending increased amounts on details that will make their day the most memorable event of their lives; not to mention those of invited guests. When spending tens of thousands of dollars on the location, food, dress, and decor why would spending $3-400 dollars break the bank?
Wedding insurance has existed for decades. More and more venue locations are requiring booking brides and grooms to carry wedding insurance PLUS to name the venue as additionally insured to cover possible liquor or liability claims. When we break down the coverage and limits wedding insurance provides the cost vs the benefits speak for themselves.
What Wedding Insurance Covers:
Location: Your church or reception venue should have their own general liability and property insurance in place already. Their policy is meant to cover their business and damages, you are not covered under that policy! If your venue is unable to be open due to a weather disaster, fire, or they are just closed for no other reason, your policy will cover the cost you paid to book the site for the day/night.
General Liability: This is a broad term for a simple coverage. If there is an injury or damage to the venue caused by you, the caterer or guests you will be covered under the general liability portion of your wedding insurance package.
Liquor Liability: Were there is alcohol there is the possibility of an alcohol related accident. The party serving and the party hosting can both be sued and held liable for damages or injuries resulting from a guest being served or over-served. Liquor liability coverage has a set limit of insurance that is meant to cover damages and defense costs resulting from a liquor related claim. **This is not automatically included with a basic wedding insurance policy** Example: You hire a bartender who is responsible for serving beer and wine to your guests. That bartender is responsible for your 100 guests and does not remember how many drinks your cousin has consumed over the night … They guess 2 or 3. Your cousin leaves the reception and collides with another vehicle on the road, causing an injury and property damage. Your liquor liability will protect the named insured (you) and usually the bride and groom who are hosting the event. You will have a set limit for coverage, so be careful the amount you choose. usually the higher amounts are not as expensive as you may think!
Optional Coverages: Can include coverage for the wedding gown, cancellation due to extreme weather conditions, postponement of the wedding due to injury to an immediate family member, coverage for stolen gifts, etc.
In the grand scheme of the day the wedding insurance policy may be the most inexpensive purchase made in order to day ‘I Do’. Personally, if and when my wedding day rolls around, I will make the decision to purchase wedding insurance. It will help me worry less about my family and friends, and be able to focus more on making memories on my special day.