What is Wedding Insurance and Do You Need It?
2022 weddings are on the rise, with 2.5 million predicted to take place this year (the most in almost 40 years), according to The Wedding Report.
Average wedding costs continue to increase, largely due to inflation and supply chain kinks caused by the COVID-19 pandemic. Since weddings have become quite the investment, we understand that it’s more important now than ever to protect your wedding with the right insurance.
Our team at Doherty is ready to answer all of your questions about the best way to make sure your big day is protected with Special Event Insurance, also referred to as Wedding Insurance.
What is special event insurance and what does it cover?
There are two different types of special event insurance: cancellation coverage and liability coverage. Special event cancellation coverage can protect you from financial loss in the unfortunate event that your special day needs to be postponed or canceled. This can be due to a number of reasons including severe weather, serious illness, military deployment and more.
In some cases and depending on policy limits, special event cancellation coverage may reimburse you for lost deposits and nonrefundable amounts for the venue and food, as well as payments to other vendors such as your photographer, florist, band/DJ, etc.
Even if you’re confident nothing will stand in the way of you and your big day, this coverage may also help protect you in the case of lost or damaged wedding gifts, damaged attire to your tux or gown, and in some cases even jewelry.
In addition to cancellation coverage, there’s special event liability coverage. Liability coverage will protect you and your partner in the event you’re found legally responsible for damage to the venue (guests have too much fun dancing and damage a wall) or an injury to a guest (someone’s heel breaks and they sprain an ankle). Unfortunately these instances are more common than you might think, and we always recommend being prepared just in case.
Both types of special event insurance can vary depending on the policy, so it’s important to review yours and make sure you fully understand what is covered. And for what could be one of the bigger investments of your life, wedding insurance is definitely worth it.
To learn more about getting a wedding insurance policy, contact our team at Doherty by calling 978-475-0260 or by filling out this form. We can help you make the right choice for your coverage on your special day.