Posted on: June 27, 2006
Do You Need Wedding Insurance?
Emergency coverage could buy some peace of mind.
By Bev Bennett
CTW Features
The insurance policy you currently hold can be adapted for a fee to cover your temporary wedding needs.
You can’t insure that your fiancé will continue to love you. You can’t even insure that your intended will show up at the wedding ceremony.
“I’ve never come across ‘change of mind’ insurance,” says John D’Agostino, Jr., past president of the New Jersey Professional Insurance Agents Association chapter.
But, you can protect yourself financially if other aspects of the wedding – from lost rings to natural disasters – cause problems.
As you plan your wedding think about the risks associated with the event.
You may discover that the insurance policy you currently hold can be adapted for a fee to cover your temporary wedding needs. You can also hire vendors who carry their own insurance, says D’Agostino.
“When we think about weddings the most important thing we hear about is someone getting hurt. Maybe someone wants to swing from the chandelier in your dining room. Your standard homeowner policy may cover that,” says D’Agostino who is with the D’Agostino Agency in Hammonton, NJ.
If your wedding is in another venue, you may be able to get a one-day liability policy. Depending on your location, the number of guests included and whether alcohol is being served, your fee can range from $150 to $1,800, the fee for a large gathering ending with bar service.
You can also pass the liability risk onto someone else. For example, hire a professional bartender for an at-home wedding and ask the bartender to carry insurance.
Caterers are usually insured. Ask for a certificate of insurance and get the number of the policy and the name of the issuing agent when you hire a caterer.
“That way if the caterer serves spoiled food, you have the information to file a claim,” says D’Agostino.
Other vendors, including the band and limousine service should carry certificates of insurance as well, says D’Agostino.
Loss is another concern. You can cover such things as your diamond falling out of a setting, your wedding dress being destroyed in a warehouse fire or even your photographs being damaged.
“With the cost of an engagement ring [being significant] most people are adding the ring to their homeowner’s policy as soon as they buy it. I recommend scheduling the ring for all risk,” D’Agostino says.
Don’t forget about expensive gifts you and your mate might exchange.
“Couples may give each other jewelry as a wedding gift, then head off to a remote island and leave their jewelry on a beach chair.”
Your photographer should carry insurance in case he ruins the wedding pictures (insurance won’t help if you simply don’t like the way you look in the photographs).
Natural disasters can’t be avoided, but they can be insured against, says D’Agostino.
“If you’re planning a wedding in the middle of Florida, during August or September hurricane season, you can get a one-day event cancellation policy from an insurance company.”
Expect to pay an average of $300 to $500 or more, D’Agostino says.
“When all is said and done you want to make sure the wedding is a fun day and you’re not worrying about people getting sick from the food or hurt in a limo,” says D’Agostino.
