The average cost of a wedding in New York has hit $65,824 according to Reuters. That’s more than the average New Yorker’s annual salary! It’s so important to insure this huge investment, because unfortunate circumstances can ruin one of the most important days of your life.
I’ve heard some true horror stories this year from traumatized brides. From wedding ceremonies being destroyed by inclement weather to brides having no wedding dress weeks before the wedding because their vendor went out of business, the worst can(and does) happen. Should you invest in wedding insurance? What does wedding insurance cover anyway?
Typical Policies Cover the Following Circumstances:
Severe Weather: If your wedding has to be canceled or postponed due to extreme weather, your policy can provide coverage for the cost of rescheduling.
Sudden Illness: If the wedding needs to be postponed because sudden illness prevents the bride, groom or their parents from attending, you can receive reimbursement for non-recoverable expenses.
No-Show Vendor Deposits: If any of your key vendors suddenly become unavailable, your costs can be covered.
Venue Requires Insurance:As an additional option to your policy, you can add liability coverage to protect yourself in case a guest is injured or causes damage to property.
Unexpected Military Deployment: If the bride or groom is unexpectedly called up to active duty, or has her or his military service leave revoked, reimbursement can be provided for postponing the event. Every bride or groom serving in the military should have wedding insurance in this manner.
Damaged or Lost Wedding Attire or Rings: This coverage is to protect your bridal gown or tuxedos in case the seamstress damages the material, stores go out of business, etc.
Gifts: You can get repair or replacement cost if your wedding gifts are damaged.
Liability: If you’re having your wedding at home, you’ll want to be protected in case a guest gets hurt or hurts someone else.
Ruined Photos: If your photographer’s film is defective, or negatives are lost or damaged, this can cover the cost to re-take new photos.
Liquor Liability: As an individual liability option to your policy, you can add this coverage to protect against liability arising from alcohol-related occurrences (subject to policy conditions and exclusions).
A basic policy is inexpensive and may only cost you $160 to insure. It even makes a great early wedding gift! If you’re considering wedding insurance, contact us to learn more about coverage details.