F I N A N C I A L P L A N N I N G & I N S U R A N C E
C H I C A G O W E D D I N G & P A R T Y R E S O U R C E
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No matter how many hours you spend plot-
ting, planning and rehearsing your wedding,
there still are some things that are out of
your control.
ENTER WEDDING
INSURANCE.
Now, obviously, this isn’t the most glamor-
ous wedding topic — no one likes to think
something could go wrong on their big day.
But wedding insurance can ultimately mean
the difference between a smooth, stress-free
time and a big, chaotic mess.
When you think abut a wedding being a
real financial and emotional investment, it
gives couples peace of mind that if some-
thing goes wrong, the insurance company is
there to make things easier—at least finan-
cially.
The concept behind wedding insurance is
simple enough: You will likely spend more
money on your wedding day than on any
other day of your life, and with so many
moving parts, there’s a reasonable enough
chance that something could go wrong, so
why not take out an insurance policy to pro-
tect the investment in the day?
There are two basic types of wedding in-
surance: liability coverage and event-cancel-
ation coverage.
Liability coverage often is a requirement
of certain venues — particularly non-tradi-
tional venues — and protects the holder and
venue against lawsuits related to the wedding
day. Event cancelation coverage, meanwhile,
tends to cover everything else, from a weath-
er- or illness-forced postponement to deposit
reimbursements should a venue or vendor go
out of business, even the cost of re-shooting
your wedding photos in the event of a pho-
tographer mishap.
We can’t stop the tornado from coming,
we can’t stop the snowstorm or the hurri-
cane, but we can help in the one way, and
that is the financial loss. And really, that’s the
purpose of all insurance.
The premium for event coverage is typ-
ically based upon the overall cost of your
wedding, generally in the $200 to $300
range for an average wedding. Check with
your insurance provider as to the specifics
of what your plan will and will not cover.
It’s relatively inexpensive, and wedding
planning can be stressful enough. Wed-
ding insurance can just provide a little bit of
peace of mind, so one less thing to stress out
about.
The trend of purchasing wedding insur-
ance has taken hold in recent years, with
Travelers reporting an increase in policy-
holders every year since they launched their
coverage in 2007. Both Travelers and Aon
say the primary purchasers of wedding in-
surance tend to be the parents of the bride
and groom, who are often helping pay for
the wedding and a bit more risk averse.
Of course, there are still a few things that
wedding insurance will not cover:
Change of heart, as they say, is not cov-
ered by most wedding insurance program.
But the things that are outside of your con-
trol are covered.
Copyright © CTW Features
Insuring Your
‘I Dos’
If your day has some hiccups,
wedding insurance can make sure
you’re not stuck with the bill
By Ben Larrison, CTW Features
Robin Falk Photography
