The wedding is off

We’ve all heard the stories. A wedding is cancelled. Sometimes it’s because of a death or illness in the family. That’s when wedding insurance kicks in.

 

More than cancellation

Having insurance, however, is more than the possibility of cancellation. Sometimes the money loss relates to specific disappointments. A dress may be ordered and not delivered or the shop suddenly goes out of business and your deposit is lost. The photographer may have camera problems, his work is deleted and you have no wedding pictures. There are a host of possibilities, so check your overall budget and hone in on the problems that would be most costly and unsettling if they went awry.

 

Coverage cost varies

The more items you want covered, the higher the cost. And there are levels of purchases that are attached to cost. For instance, covering almost everything might allow reimbursement of, say, $20,000. Being selective in what is covered may have a payout limit of, say, $5,000.

A survey showed that the top five insurance claims are for:

1. damage to wedding attire
2. re-taking of wedding photos
3. wedding cancellation due to illness or death
4. non-appearance of caterers
5. loss of wedding rings

 

Real planning

You may want total wedding coverage, including wedding cancellation. Or you may want to consider just enough insurance to cover the specific items that would most upset you if they went wrong.

Here are a few:

• Wedding photo and video can cover the non-appearance of the photographer, the cost if retakes are necessary and cost of the video if it cannot be produced.
• Gowns and tuxes can cover the physical loss or damage of clothing or if the supplier goes out of business and can’t provide the items.
• Honeymoon cancellation can be covered if you have a loss of pre-paid or non-refundable travel costs due to cancellation of the wedding.
• Wedding gift theft or damage, usually for 24 hours prior to and after the wedding, whether at home or reception or in transit. Usually money, gift certificates and cheques are excluded.
• Deposits paid upfront for services and items that cannot be supplied.