You either already have or will be spending a considerable amount of time and money to celebrate your nuptials, so we need to have a very serious conversation about protection.  Not that kind. By this point in your life those important conversations should have happened. And if not, then talk to an adult you trust. This is a discussion of Wedding Insurance, a newly minted financial service that might save the day when the weather, the vendors, or fate doesn’t cooperate.

Traditionally, the only insurance you needed to ensure the wedding would happen was a shotgun gently reminding the groom that the lovely flower in white is his until eternity. But now it is not about protecting your reputation, but your bank account from falling into ruin should the unexpected happen.

Awful things like the caterer suddenly skulking off into the night with your deposit (or more) just days before the big event. Or if travel arrangements are sullied by a huge snowstorm or hurricane making it impossible for the bride and groom to get to the airport let alone the altar.

While Wedding Insurance might sound as silly as bottled water did when it first hit the streets, the security of knowing that if something unpleasant happens, you’ll at least remain financially okay is a reason to consider it.

Wedding Insurance (WI) is not sold on street corners, it is sold in your local agent’s office and online by reputable insurance companies (that could be an oxymoron) with actuarial precision to identify the depth of coverage you need and the amount you can afford.

The price of the WI is based on the size of your wedding, where you live, and your budget. The coverage is protection for some of the worst case scenarios; the wedding has to be postponed or canceled due to illness or a death in the family, the jewelry is lost or stolen, the gown or tux is ruined, the photographer’s camera fails, and other calamities. The details are in the policy.

You can also add liability coverage which might be a requirement of your venue if you don’t have a homeowner’s policy that covers it. This means that when your antique Uncle Al decides to try to foxtrot like he did in the Army and ends up with a face plant on the dance floor, you’ll be covered (protected) from paying for his new nose.

And you can add Liquor Liability if you feel that your rowdy crowd is not likely to have the sense to use designated drivers so that they don’t end up as a headline.

It is important that if you choose to get WI that you read the policy completely and ask a real live agent all your questions (even if you buy it online) before you sign the papers and pay your premium.

Considering that the average US wedding costs $30,000, insuring your investment may make sense for you (two) or your parents. The Bank of Mom & Dad may not have heard of Wedding Insurance and it would be good of you to clue them in. Maybe even buy the policy with your own money just so that they have peace of mind.

What you cannot insure against is cold feet. If the bride or groom have a change of heart and decide to be a no show, the insurance policy will not pay. That’s breach of promise and you need a lawyer (or a shotgun – just for encouragement), not an insurance agent to remedy the situation.

 

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