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When it comes to your wedding and the amount of money you and your loved ones have forked out for your big day, you might want to consider wedding insurance. “Hang on a minute. What is wedding insurance?” That’s what a lot of people ask, and wonder if they actually need it. After all, you don’t have a wedding every day, so knowing the finer details of buying wedding insurance is almost certainly not in your wheelhouse. Check out our list below to see just what wedding insurance is and know if you really need it for your wedding.

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What Is Wedding Insurance

Basically, a wedding insurance policy protects your wedding costs from circumstances beyond your control. If you’ve made big financial commitments to your big day, from the venue, reception, transportation, flowers, even the bridal party dresses and tuxedos–you might want to consider a wedding insurance policy. There’s nothing like having a little peace of mind going into your big day that everything will be taken care of if the unthinkable happens, and that’s exactly what wedding insurance is supposed to give you.

How Much Does It Cost

A basic wedding insurance policy costs between $150 and $550, with a general liability policy averaging out at $185 for one million in coverage. These policies cover photos and videos, wedding attire, gifts, and so on. However, you need to be aware that it is not the same as car insurance or homeowner’s insurance, so make sure you read your policy carefully before you sign any contracts.

When Should You Get It

As soon as you start paying out deposits for costly venues, you should get a policy. Wedding insurance covers you in the event that a venue goes out of business, if your driver gets in an accident and you have to hire another classic car last minute, it covers weather problems that might prohibit you from actually getting to your wedding–but only if you have a policy. Some wedding insurance policies even cover sickness or injury, and other types of mishaps.

What It Doesn’t Cover

Basically, it doesn’t cover a runaway bride or cold feet. Some jewelry, including your wedding rings, might not be covered either. These are things to discuss with your insurance agent. Most importantly, things like injuries or mishaps at your venue may not be covered and will default to the property owner’s insurance. If you are having a send-off line, your guests are using wedding sparklers, and one of them catches the wallpaper on fire, that may be the responsibility of the venue owners. So, make sure they go over everything with a fine tooth comb.

Only you can decide if wedding insurance is the right choice for you, and it also depends on how much you’ll be spending on your wedding. If you’re going to spend thousands of dollars, then buying wedding insurance should really be a no-brainer unless you just can’t afford it.

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