Wedding Insurace: What it is...and What It's Not

With the average cost of a formal wedding now topping $20,000, many modern brides-to-be have begun worrying as much about possible financial loss as about the choice of bridesmaids.

For instance, a serious illness in the family could force postponement of the nuptials, forfeiting thousands of dollars in non-refundable deposits to the caterer, the hall and other vendors. Or, suppose that tipsy Uncle Festus broke his leg doing the Break Dance at the reception hall; that could prompt a big bill for an ambulance trip, not to mention potentially
sticky liability problems.

Or suppose Mother Nature threw a temper tantrum with a hurricane, earthquake or snowstorm closing down civilization and preventing attendance at the wedding. Or suppose the wedding gown were ripped by a furniture splinter. Or unexpected job loss or relocation delayed the wedding. Or a fire closed the reception hall. Those are just a few of many misfortunes that can be covered by insurance.

For a relatively small premium (usually under $200), an insurance policy can protect $3,000 in the financial investment of your wedding (with higher limits available for additional premium). Some policies protect the customer with a specific set of coverages, with additional premium paid to raise the limits on each risk. A more flexible second type of policy
offers cancellation coverage for non-refundable deposits, but then gives the couple the option to purchase other coverages, allowing coverage to be custom-tailored. Here's a list of the basic categories that can be insured:

* Loss of non-refundable deposits following cancellation or postponement for various reasons, including the failure to show up of the caterer and the person authorized to perform the wedding ceremony. Coverage includes some additional expenses necessary to avoid a wedding postponement (such as for booking a more expensive reception hall at the
last minute if the original hall goes out of business.)
* Personal liability for bodily injury or property damage sustained during the wedding or reception. (Some halls have their own liability coverage but others insist that the bridal couple provide evidence of at least $1 million in limits of liability insurance.) This optional liability coverage usually includes $1,000 in medical payments for a guest injured by a covered cause of loss.
* A new photographic shoot if the photographer fails to appear or if original negatives were misdeveloped or lost before prints could be made (or if the camera was broken ruining the film). This optional insurance would pay up to whatever limits you chose to reassemble the wedding party for the photography.
* Gifts lost or damaged. A homeowner's policy might cover this option, but newlyweds might not yet own a policy.
* Wedding attire and rented property. These are also optional coverages.

Remember - before you buy a wedding policy, check your renter's or homeowner's policy to see what coverage you already have. For instance, you might already be covered for personal liability -- but for how much? (A typical homeowner's policy provides about $350,000-to-$500,000 coverage. A reception hall could require much more.) Also, ask your vendors whether their insurance applies to customers and see how it might fit with your needs.

Note that for cancellation coverage, change of heart is NOT covered. Also, having an insurance policy does not guarantee a perfect party or a tasty wedding cake. Nor will coverage apply if you decide to hold the event outdoors and it rains. (You should have an alternate indoor option available if the weather turns sour.) Insurance will also not cover a band being a no-show (or the quality of the music if they do show up and people wished they had not).

by John Kozero
Fireman's Fund Insurance Company
1-800-ENGAGED