Do I Need Wedding Insurance?
The average cost of a wedding in Canada in 2020 is estimated to be at least $30,000. There are very few examples of purchases this large that you wouldn’t insure, right?
Your wedding, and the events leading up to it, are very exciting. No matter what size wedding you’re planning, it’s important that you protect yourself, all those in attendance, and your hard-earned money with event insurance. In this blog, we review the reasons why you really do need wedding insurance.
Why Do I Need Wedding Insurance?
There are many unforeseen situations that can interfere with your wedding plans.
Couples who opt into wedding insurance and have to cancel their wedding, change the date, switch venues, or adjust anything else that may incur additional charges are typically covered.
In addition, wedding insurance protects you from liability on the night of the event. In the unfortunate instance that someone gets injured, you are protected.
In some cases, your venue will have insurance that will cover your event, and in other cases, they will require that you apply for the necessary coverage. Either way, it’s critical to ask what is covered and investigate supplemental insurance coverage, if required.
What Does Wedding Insurance Cover?
Wedding insurance coverage includes any wedding-related events including a stag & doe, and a bridal shower.
It’s especially important to have insurance at events where there will be alcohol, as these are the most likely occasions for accidents to occur.
Below, we provide an overview of the coverage you can expect when working with Jeffery & Spence insurance brokers:
- Commercial General Liability: including Host Liquor Liability for three 24-hour periods. This can include coverage for rehearsal dinner, ceremony, reception, and gift opening.
- Wedding Cancellation, other than “cold feet”.
- Honeymoon Cancellation, if related to the cancellation of the actual wedding.
- Lost deposits made to wedding vendors, if they suffer financial failure.
- Wedding photos and video, including a “no-show” situation.
- Bridal Attire
- Wedding Gifts
- Wedding Cake and Flowers
- Wedding Stationery
- Rented Property including direct and physical damage to rented property used during the wedding reception, including but not limited to, temporary outdoor shelters, such as tents or marquees, tables and chairs, stages, audio and visual equipment.
- Failure of Suppliers: covers any vendor booked to supply transport, accommodation, catering, photographs, flowers, wedding attire, or any other wedding services ceasing trading because of bankruptcy, liquidation, or any other formal insolvency proceeding.
It’s important to note that wedding insurance doesn’t currently offer any coverage or reimbursements relating to the COVID-19 pandemic.
How Do I Get Wedding Insurance?
The first thing you should do is set up an appointment with us, ideally, several months before any of your wedding events are scheduled. We will listen to your needs, find the best solution, and explain your coverage in-depth to you. The team at Jeffrey & Spence is always happy to help!