Weddings are a HUGE investment and if you’re planning a wedding right now, you’ve probably come to realize that … oh, about 10,000 dollars ago. In Hawaii, an average wedding budget falls anywhere between $12,000 to $100,000 plus. It’s true! When you add up all the bells and whistles, that is the nitty gritty ~ Weddings are big bucks! As with any major purchase in life; buying a new home, car or piece of art; insurance is offered to ensure that you are “covered” in case the any unexpected situation arises. Well, weddings are really no different! Most couples have never thought or even heard of wedding insurance, but we would highly suggest it and will give you a little info on exactly what wedding insurance is and how it works. But what exactly does wedding insurance cover? And why should we get it?
What Is Wedding Insurance?
Basically, wedding insurance protects a couple’s investment from circumstances beyond their control, and reimburses expenses incurred. For example, what if your limo driver doesn’t show up due to a family emergency and you have to book another one the morning of the wedding — for three times the price? Or what if the brides custom-made veil gets lost in customs, and she has to buy a new one the day before the wedding? OR what if your reception space goes out of business a month before the wedding, and you lose your deposit and have to book another space? These are the types of big-day financial losses that wedding insurance can help to protect.
What does wedding insurance cover?
You should read the insurance policy carefully to know exactly what it covers as every insurance policy differs in their coverage. Usually wedding insurance covers the following:
Weather: if there is a storm, thunder showers, hurricane (or any bad weather condition) that hits Hawaii and prevents the bridal party or/and the majority of your guests from coming to the wedding, the insurance will cover the costs of rescheduling the wedding, including all the expenses such as venue, food, flowers, etc. That’s right – all expenses! Talk about avoiding a huge financial loss and extreme bridal breakdown!
Venue: Although most venues are already insured for the couple (hotels, restaurants), some venues (outdoor areas) may not be. If the venue is not insured, wedding insurance will protects the couple from any cost arising from unavoidable cancellations. For example, if for some reason your wedding venue happened to be bought out by the “Hawaii Five-O” crew that weekend unexpectedly at the last minute and you unfortunately could not hold your event there anymore, the insurance would cover any costs related to finding a new venue.
Vendor not showing up: It could happen that your officiant or caterer (the vendors that are critical to your wedding) did not show up for one reason or another. It may be a traffic accident or a family emergency. No matter what the cause, your wedding insurance then will cover the costs for postponing the wedding because of this mishap. Or allow you to get another officiant at the last minute.
Illness or injury: If any essential people in your wedding get injured or sick and as a result the wedding has to be postponed, the insurance will cover expenses involved in the postponement.
Some other important Tips to keep in mind when getting Wedding Insurance…
There are two main types of wedding insurance that can be beneficial to brides and grooms:
Wedding Liability Insurance. Wedding liability insurance protects the couple and their families from financial liability in cases where they are held responsible for alcohol related accidents, property damage, or injuries during the actual wedding. This type of insurance may be required at certain locations and venues.
Wedding Event Cancellation/Postponement Insurance. Wedding event insurance protects financial investment in the wedding that covers deposits (potential loss of) and cases against extreme situations (weather, accidents, sudden illness) and no-show vendors.
So how much does Wedding Insurance Cost? Wedding insurance does not have to be a huge investment, at WedSafe, policies start at just $75 and average premiums are around $200.
Ultimately it’s up to you whether you want to invest in wedding insurance or not… of course ~ We always recommend it, but the decision is 100% in your hands. Just keep in mind, weddings are a huge investment and a once in a lifetime event… we would hate for you to lose all that money just because you didn’t buy a small policy.
Just another tip from Best Day Ever ~ Hawaii Wedding Planners!