Wedding Event Insurance
Perfect Protection for the Big Day: Why You Need Wedding Insurance
A wedding is something many people dream about, not only the dress but the venue and the perfect day to commit to the love of their life. Events don’t always go so perfectly, however, and sometimes there are circumstances beyond your control. Thankfully, there are insurance options for weddings that can help protect the happy couple’s investment.
Why do you need insurance for your wedding?
Weddings are expensive! The average cost is approximately $30,000. There are many moving parts when it comes to planning a wedding, from picking the venue to serving alcohol, wedding gifts, and rings, and extenuating circumstances arise that can impact the couple financially. Wedding insurance provides extra peace of mind to protect you from financial loss, liability, and property damage on the day of the event.
What are the risks of not having coverage?
Many venues require outside vendors to supply rented property, such as tents, tables, chairs, and stages. If anything is damaged, the cost of those damage falls on the couple. Should the venue permanently close or if the couple decides not to go ahead with the wedding, the couple will lose their deposit. A venue closing may also mean other vendors that have been paid deposits may not be available for when the wedding is rebooked, and the couple may also risk losing those deposits. Additionally, if someone injures themselves, without insurance you will not have protection. Depending on the extent of the injuries, this could cost more than the entire wedding itself!
What coverage is available?
There are four levels of coverage available, with increasing levels of coverage per item: silver, gold, diamond, and platinum. All packages include:
- Commercial liability including host liquor liability, includes the rehearsal dinner, ceremony, reception, and gift opening.
- Wedding cancellation: Reimbursement of deposits paid or contracted to be paid due to unexpected cancellation of the wedding.
- Honeymoon cancellation: Will reimburse if the insured suffers a loss of the pre-paid non-refundable cost of travel due to the cancellation of the actual wedding
- Loss deposits: Will pay for non-refundable deposits made to providers of any booked goods or services if they suffer financial failure.
- Wedding photos and video: the cost of extra expenses if photos need to be retaken if they can’t be reproduced for any reason, even including a no-show photographer.
- Bridal attire: Coverage for physical loss or damage to the bridal & groom wear attire once the property is in the care of the insured.
- Wedding gifts: covers lost, stolen, or damaged gifts (24 hours prior to and after the wedding) while the property is at the couple’s home or reception location or in transit between the two.
- Rings: covers physical loss or damage to the wedding bands- coverage starts 7 days prior to the wedding.
- Wedding cake and flowers: direct physical loss or damage to the wedding cake or flowers seven days prior to the wedding.
- Wedding stationery: physical damage or loss to the wedding stationary prior to the wedding, including invitations, RSVP cards, menus, and name cards
- Rented property: reimbursement of direct and physical damage to rented property used during the wedding reception Worldwide coverage is available, but some restrictions may apply.
At Merit, we are a family, and we treat our clients like they are family. We work to know our customers and their families, and we work hard to cover everything, including life’s big decisions. Meet with your Merit Insurance Broker to discuss your big day, or click here for a quote, and we will work to tailor a policy to suit your needs.
