Area of Law: Insurance Law
Answer # 2780
Wedding insuranceRegion: Ontario Answer # 2780
What is wedding insurance?
Wedding insurance protects you from wedding losses that may happen due to unforeseen circumstances and reimburses you for expenses. Unforeseen circumstances might include:
- events causing damage or injury at a wedding
- external event(s) that may prevent your wedding from occurring
- problems with the venue or vendors
What are the different kinds of wedding insurance?
There are two usually two types of all-inclusive wedding insurance policies available:
- Liability coverage (may include bodily injury and property damage)
- Cancellation coverage
What is covered in a wedding insurance policy?
The types of things you may be covered for include:
- cancellation or postponement of wedding, or honeymoon cancellation due to wedding cancellation;
- vendor issues, such as venue permits being revoked or bankruptcies;
- sickness or injury of wedding couple or anyone essential to wedding;
- property damage such as damage to bridal clothing, or loss or damage to wedding gifts, jewelry, cake, flowers, photos or stationary;
- extreme weather which prevents the couple, any relative whose presence is essential, or the majority of the guests from getting to the wedding. You may be reimbursed for rescheduling the wedding and things like flowers, tent rental and reception food; and
- destination weddings
What does wedding insurance not cover?
Wedding insurance only covers things that cannot be controlled that put a couple’s wedding at risk, not if the bride or groom get cold feet and cancel the wedding.
How much does wedding insurance cost?
The cost of wedding insurance varies. Depending on the various options and packages, policies could cost between $200-$2,000.
Does home insurance offer any protection?
Home insurance is not intended to cover a wedding, however, home or tenant insurance may provide some coverage, such as claims for wedding rings due to fire or theft. Every wedding insurance policy is unique with different policy limits or special features based on the insurance company providing the insurance.
Travel insurance for destination weddings
If you are planning a destination wedding where travel is involved, you should consider buying travel insurance. Most policies provide additional optional coverage known as Cancel for Any Reason (CFAR) insurance.
With Cancel for Any Reason (CFAR), you do not need a reason to cancel your travel plans. To purchase CFAR insurance, there is usually eligibility criteria, such as:
- travel must be cancelled within a certain time period of departure date, usually 48 or 72 hours
- the benefit may cover only part of your travel cost, depending on the plan
Get help from a life insurance advisor
Understanding life insurance and what is best for you can be overwhelming. It is important to get professional advice for your unique situation, and it is more affordable than you think. Life insurance can protect your family, your home and your business. For a free consultation and quote, contact an Empire Life Insurance advisor.
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