With the warmer weather upon us wedding season is in full swing!
During the summer of any year, there are many weddings, but due to the recent COVID-19 Pandemic, there will be even more weddings this summer as many couples are finally having the wedding they had to postpone over the past couple of years. A couple’s wedding day is often one of the biggest, most special days in their lives. They will want their wedding day to be filled with positive experiences and no stress or worry. We recommend that couples invest in wedding insurance, to ensure that the financial investment they have put into their wedding is protected in case something unexpected or out of their control happens.
What is Wedding Insurance?
Wedding insurance is a type of special event insurance that can help to protect the individuals that are hosting the wedding.
Do You Need Wedding Insurance?
Many moving parts go into planning and hosting a successful wedding, and with so many moving parts of the event, there are also many opportunities for things to go wrong. If a guest gets injured, the venue is damaged, or issues with the vendors arise, wedding insurance can be a great help and bring peace of mind to couples. Many wedding venues will require event liability insurance.
Insurance Coverage That is Available for Weddings
General Liability Insurance
General Liability Insurance is the most basic kind of insurance you can obtain for your wedding. General Liability Insurance helps to protect the individuals hosting the wedding if someone is injured at the wedding or if physical damage is caused to the property as a result of the wedding.
Event Cancellation or Postponement Insurance
Event Cancellation Insurance may help cover the costs if the couple has to unexpectedly cancel the wedding due to unforeseen circumstances that are beyond their control. The amount of money the couple may be able to recoup will depend on the amount of coverage they have in their wedding insurance policy, so it’s important to speak to your Ontario insurance broker to be aware of the extent of coverage the wedding insurance policy provides.
What Is Covered under Wedding Insurance?
An all-inclusive, premium wedding insurance policy typically includes coverage for some or all of the following:
- General liability
- Wedding photographer, videographer, or DJ cancellations
- Wedding cancellation or postponement
- Wedding supplier cancellation
- Damaged bridal attire, cakes or wedding rings
- Sickness or injury to the couple or individuals essential to the wedding
- Issues with the venue, like flooding or a fire, that force the wedding to be postponed.
- Extreme bad weather, such as a snowstorm, that forces the wedding to be postponed.
Again, wedding insurance coverage options will vary, so make sure to speak with your Ontario insurance broker to make sure you fully understand what coverage is offered in your wedding insurance policy.
Additional Wedding Insurance Coverage Options
General liability insurance and event cancellation insurance aren’t the only type of special event insurance you can obtain for your wedding. There are also additional options available to personalize your policy to better meet your needs. Here are some other wedding insurance options:
Liquor Liability Insurance
Liquor Liability Insurance helps protect the individuals throwing the wedding if there is injury or damage that results from the serving and consumption of alcohol. If you plan to serve alcohol at your wedding, this type of insurance is very important.
Third-Party Property Damage Insurance
Third-Party Property Insurance helps to cover the costs of physical damage or loss to the property that may occur during the wedding. This could include broken tables, chairs, dishes, or even spills and stains.
Non-Owned Hired Auto Liability Insurance
If you rent a vehicle for the day of your wedding, you should think about obtaining Non-Owned Hired Auto Liability Insurance. This may help cover the costs if the driver inflicts any injuries, property damage, or damage to other vehicles.
Gift Coverage Insurance
Gift Coverage Insurance may help cover the costs of replacing any non-monetary wedding gifts that are damaged, stolen, or lost.
Photography or Videography Insurance
If photos or videos of the event are lost, stolen, or damaged, Photography or Videography Insurance may help cover the costs of having to restage the wedding to recapture the photos or video.
There is also insurance coverage available for destination weddings.
If you are going on a honeymoon, we recommend that you speak with your Ontario insurance broker about additional insurance options to cover those plans.
Each wedding insurance policy will be slightly different so it will be important to speak with your Ontario insurance broker to make sure you get the wedding insurance policy that best suits your needs.
What Is Not Covered in a Wedding Insurance Policy?
With everything that is covered under a wedding insurance policy, there are exclusions and exceptions. For example, if the wedding is cancelled, only certain circumstances will be covered. If one of the individuals getting married has a change of heart and wants to cancel the wedding, this is not covered by wedding insurance. Only extreme weather that leads to cancellation may be covered, ordinary bad weather, like rain, will not be included in the policy. Postponements or cancellations that result from a preexisting condition are also not covered. You will need to contact your Ontario insurance broker to understand the specific coverage limitations of your wedding insurance policy. Most wedding insurance policies will only cover the issues related to the wedding. If you are looking for additional coverage for your engagement party, stag n doe, or wedding rehearsal make sure to speak with your Ontario insurance broker about additional available insurance options.
How Much Does Wedding Insurance Cost?
The cost of insurance for your wedding will depend on several different factors:
-Whether you and your partner choose a basic or premium wedding insurance policy
-The size and cost of the wedding
-If one, or both of the individuals getting married, or an individual in the wedding party has a pre-existing medical condition.
-The location of the wedding
-Any additional coverage options added to the wedding insurance policy.
When Should You Buy Wedding Insurance?
Generally speaking, the earlier you can purchase wedding insurance the better. Most wedding insurance policies are purchased up to a year before the wedding. Make sure to speak with your Ontario insurance broker about the maximum and minimum periods that your wedding can be insured.
At Youngs Insurance, our Ontario insurance brokers are here to help you get the right amount of insurance coverage for your wedding. Our Ontario insurance brokers can customize a wedding insurance policy specifically for you, so you can have peace of mind and be able to fully enjoy what will surely be one of the best days of your life.
Disclaimer: The information provided on this blog is for educational purposes only and is not intended as professional insurance advice. The coverage, terms, and conditions of each insurance policy are unique and subject to individual circumstances. The information provided does not guarantee the availability or suitability of any insurance policy for your specific needs. You should not rely on the information in the blog as an alternative to professional advice from your insurance broker or insurance company. If you have any specific questions about any insurance matter, please consult a licensed insurance broker for personalized advice and guidance.