18 Feb Wedding Insurance … Because S#*t Happens
By Anita Byer, Setnor Byer Insurance & Risk
As COVID restrictions loosen nationwide, people are starting to plan special events. A lot of them, it seems, are planning weddings. According to The Knot, there will be more weddings this year than the national pre-pandemic annual average, with nearly 75% of those engaged in 2021 already setting a date in 2022. With so many deciding to join you in tying the knot, doesn’t it make sense to have wedding insurance? You know, because stuff happens?
Wedding insurance is a kind of special event insurance designed to cover various wedding mishaps. According to Travelers, the most common wedding claims are:
- Vendor issues (29%)
- Property damage (19%)
- Illness / injury (17%)
- Other (14%)
- Weather (6%)
- Special attire (6%)
- Military deployment (6%)
- Event gifts (2%)
Wedding insurance policies typically include:
- Cancellation or Postponement Coverage (Note that COVID-related claims are excluded under most policies.)
- Coverage for Lost Security Deposits
- Wedding Video/Photo Coverage
- Special Attire and Jewelry Coverage
- Protection for Wedding Gifts
- Additional Wedding Expenses
Additional coverages are also available, including liquor liability, lost deposits and Call-to-Duty. Policies can also provide additional insured status, which is often required by event venues. It’s important to choose a policy that matches your wedding plans and financial situation. And, don’t assume your homeowners’ or renters’ insurance policy will provide sufficient (or any) wedding-related coverage.
Remember, when shopping for wedding insurance, pay special attention to coverage exclusions that may be relevant to your situation, such as those relating to pregnancy or other pre-existing medical conditions. Read your policy carefully. Please contact us to get a quick quote for affordable wedding insurance.