Say I Do, To Wedding Insurance
Most people are aware of home insurance, life insurance, auto insurance, health insurance and business insurance. But what many aren’t aware of is that there is insurance cover for significant life events like weddings. Most weddings have some amount of drama. But there are times when the drama can transform into a more serious matter that can compel the couple to cancel the wedding altogether. This is where wedding insurance comes in.
Wedding Insurance- What Does It Cover?
While wedding costs vary significantly based on the venue, personal preferences and more, the average prices are in the range of $30,000- $40,000. So, it might just be a good idea to protect this investment with some cover. Before you heave a sigh of relief, know that no wedding or tie the knot insurance will cover things like a change of heart.
But as long as you make a prudent choice about who your life partner will be, other aspects of your wedding may fall under the wedding insurance umbrella. It may seem like an unrequired expense at a time when you have many other costs to focus on. But wedding insurance doesn’t cost an arm and leg.
Depending on what you want to be covered, it can cost in the range of $200 to $550. This isn’t a hefty amount to fork out for things that could go terribly wrong on that important day. There are two types of tie the knot insurance, and you can opt for one or both, depending on your situation. Let’s look at what these are:
- Liability Insurance– This type of wedding insurance is suitable if your wedding is to be held in a non-conventional venue such as a museum, farm or vineyard. This policy gives you adequate cover in case a guest trips and falls, or there is some damage to the property or the features in it. If you have opted for a more traditional wedding venue like a resort or catering hall, they would typically have their own insurance cover.
- Event Cancellation Insurance– This is the other type of wedding insurance policy. It’s useful in case any unforeseen circumstances compel you to call off the wedding. Things like the venue permit being revoked at the last minute, venue bankruptcy, inclement weather or a medical emergency for a key member at the wedding, would be covered.
Pick The Right Tie The Knot Insurance
Like health insurance,wedding insurance policies to need to be perused carefully. It’s best to opt for a policy from a reliable insurance provider. Look for one with a proven presence in the market for this type of insurance. Before putting down any money for coverage, ask yourself these two questions:
- What am I afraid of?
- What would I like to insure?
These are the two questions you need to keep in view while shopping for tie the knot insurance and then ask what the limitations and exclusions of the policy are.
If you want to know more about wedding insurance options, need advice, or wish to compare different options, join AAI Central today! You can reach us through our contact us form.