Most companies offer comprehensive, all-inclusive wedding insurance packages which offer coverage against some or all of the following:
- General liability. This is often extended to cover day-before (rehearsal dinner) to day-after events.
- Total cancellation or postponement of wedding (with exceptions).
- Honeymoon cancellation due to wedding cancellation.
- Wedding photos/video (if photographer doesn’t show or work is not produced).
- Damage to bridal attire in advance of wedding.
- Loss or damage to wedding gifts (with exclusions), wedding bands, cake, flowers or stationery).
- Failure of suppliers to deliver services (such as caterer going out of business or DJ not showing up).
- Coverage for destination weddings, as long as one of the insured parties is a Canadian resident.
What’s not covered?
Cancellation of the wedding due to a change of heart by the bride or groom. Cancellations that stem from a preexisting condition. (If a parent has a known heart condition and is the reason the wedding is called off).
How much does it cost?
Policies start at $200 and can surpass $2,000 depending on the cost of the wedding and the coverage you want.
When should you buy it?
Most policies can be purchased one year before the wedding and range from 30 days to three days prior to the ceremony.
Are you already covered?
Your homeowner or tenant insurance may provide some coverage. Regular insurance would cover wedding band claims due to fire or theft (after deductible), but not if you accidentally leave the rings somewhere in your pre-wedding fog. Wedding insurance, however, would cover that cost.
Credit card purchases or deposits may be covered by your credit card. Vendors (including the reception site) may have insurance that covers your investment.
Finally, read the fine print!
Pete Karageorgos, manager of Consumer and Industry Relations with the Insurance Bureau of Canada suggests:
- Go with a company that can offer a policy that is specific to weddings.
- Talk to a broker, person to person.
- Get coverage fully explained.
- Don’t choose on price alone. You get what you pay for.