Phrases such as “in sickness and in health,” “for better or worse,” and “in good times and in bad” might make a careful person think about insurance needs for the future. LGBTQ+ couples certainly need to think about life insurance, homeowner’s or renter’s insurance, and other coverages that help manage or transfer the risk of life’s uncertainties. Having financial protection against a potential event has brought many couples, gay and straight, some peace of mind. Every engaged couple looks forward to a magical day when they’ll tie the knot in the presence of loved ones. From simple ceremonies to lavish, over-the-top parties, each couple dreams of the perfect wedding; however, life’s surprises may negatively impact your nuptials. Accidents, extreme weather events, and global pandemics are just a few of the things that can throw a wrench in your plans. Here’s what you should know about wedding insurance. 

Exploring Wedding Insurance

As with other types of coverage, a wedding insurance policy mitigates the loss of money due to circumstances you can’t control. What if you or your future spouse fell ill and had to cancel or postpone the wedding? Imagine losing any non-refundable deposits you paid to secure a venue or vendor for services. What if a guest is injured by malfunctioning equipment at your ceremony or reception? Who covers the medical bills?

Many couples spend large sums of money for their nuptials. Bridal gowns, heirlooms, and rings made of precious metals and gems can be prohibitively expensive to replace or repair if damaged. A wedding insurance policy may also cover items related to your special day. Different insurers provide different coverages. Consider the following potential coverage types:

• Attire: Damages to wedding attire in your custody, including rented apparel
• Deposits: Lost deposits due to vendors or suppliers going out of business
• Event cancellation: Reimbursement for lost installments or non-refundable deposits if the event is canceled or postponed
• Event liability: Coverage for personal injury or property damage to third parties, such as guests
• Gifts coverage: Covers damages to wedding gifts, either in transit, at home, or at the event venue(s)
• Liquor liability: Pays for damages related to alcohol consumption; recommended especially for events held at a private residence or a venue that lacks this coverage
• Photos and videos: Insurance for lost photos and videos, including a photographer or videographer that doesn’t show up
• Rented equipment: Coverage for items rented or leased for the day’s events, such as AV equipment, chairs, tables, tents, etc.
• Venue liability: Coverage that names the venue as the insured

Each wedding will be different, so it’s important to look for coverage that addresses your specific needs. For example, a really expensive cake may be difficult or impossible to replace if something goes wrong on your special day. Consider a policy that specifically covers a lost or damaged cake.

It’s also essential to know what time period your insurance plan covers. Some protections would be needed for the day of your event, while others might need to start several days prior or end several days afterward. Honeymoon insurance for a destination wedding or a canceled event would be an example of the latter.

Understanding Coverage Limitations

As with other types of insurance, there are limits on what wedding insurance can address. If you or your future spouse cancels due to a change of heart or cold feet, generally, wedding insurance won’t cover losses related to cancellation or postponement. Your mutual intent to marry on a particular day is crucial when it comes to this coverage.

Details matter when you’re getting ready to tie the knot. You and your partner are making plans for the day you officially become spouses. Leave no detail unaddressed and consider purchasing coverages for that big day.