Peace of mind… Do I Need Wedding Insurance: Why and Why Not.

Big events, like weddings, require a lot of planning and a huge amount of time and effort (and a big investment!). As you may have tons of things to take care of and dozens of items to cross off your to-do list, the last thing that you will probably think about is getting an event insurance.

However, if there’s one thing that the year 2020 has taught us is that anything can happen. And even though you don’t want to think about it, unforeseen circumstances could happen even in a well-planned wedding. So, an event insurance is something that you may want to consider.

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Do I Need Wedding Insurance: Why and Why Not.

Let’s get started!

WHAT IS A WEDDING INSURANCE?

A wedding insurance is a type of an event insurance, which protects you from losses incurred from situations that are beyond your control.

Generally, there are two types of coverage for wedding insurance policies:

✔️ : Liability Coverage

This provides protection for any liability on damages to the venue or when someone in your party gets sick or injured during your event. Some insurers also offer host liquor liability (PAL, party and alcohol liability coverage), special events liability (bodily injury and property damage), property coverage and even custom ones that you can purchase depending on the need of your event.

There are different types of liability insurance, make sure you discuss it with your insurance broker to find what is best for your event. Even if you are renting a space for your wedding, it is good to have rental insurance.

Here is an example, from our partner Duuo Insurance, of what an Event Insurance Policy may look like.

TIP: Check with your venue if they will require you to provide a proof of PAL insurance (party, alcohol, liability). This is something you must factor in your wedding budget.

✔️ : Cancellation Coverage

This type of policy protects you from the expenses of having to cancel or postpone your wedding. Some situations that are often covered by this policy include: issues with vendors, accidents prior to the wedding, extreme weather and other extraordinary circumstances, like a global pandemic (sounds familiar?) This is a very specific coverage, be sure to find the right broker that provides this.

TIP: Be sure to check your postponement and cancellation clause with your vendors (venue, photographer, caterer etc.). Compare it to the cancellation clause that your potential insurance broker is offering and cross-check the coverage.

WHY YOU NEED A WEDDING INSURANCE

For your peace of mind – Your wedding is one of the biggest days of your life, not to mention the most expensive. You just never know. Getting an insurance assures you that you are protected whatever happens during your special day. As with any insurance coverage, it is not always 100% covered, but to know that you have assistance through your insurance, is still a big help.

TIP: Check with your vendors (e.g. venue, caterer, etc.) if they already have an existing insurance. This will help prevent you from paying for what’s already covered and it also gives you the assurance that you are fully covered with your policy.

Depending on the coverage that you need, the cost of an event insurance, might not be that big of an investment as you think it is. Ask for quotes and compare coverages. The cost of a wedding insurance varies depending on the scope of coverage and type of event, but is still minimal compared to the possible expenses that you may incur should anything unforeseen happens.

** IMPORTANT: Consult with a professional insurance broker to discuss the type of insurance you are looking for and discuss if it is the right fit for your event. Understanding the coverage of your insurance is very important. Speak to a professional insurance broker or advisor to determine what is right for you. **

If you’re looking for an event insurance provider (not including cancellation) for your big day, our partner Duuo Insurance has the easiest online platform so you can get a wedding insurance quote from in just a few minutes.

Use our PROMO CODE: PeppermintCo2020 TO GET 15% OFF on your premium!

📝 PLANNING A WEDDING: DO’S AND DON’TS 📝

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