For some couples, the idea of anything going wrong at your wedding is too mortifying to consider. Understandable, of course, but avoiding the idea does not eliminate the threat of a closed venue, a ruined cake, a blizzard or even a destroyed dress. You've planned every last detail down to the rhinestones on your bridal shoes but have you planned for the unplanned? Think about it this way: many couples spend as much on their wedding as they would a new car - would you drive around without insurance? Of course not.
"When you think of the $25,000 investment, buying a car for $25,000, you'd never think of not insuring it," said vice president of Travelers Wedding Insurance Chantal Cyr. "I think people are just much more aware of needing to protect their financial investments."
While Travelers only covers unavoidable wedding issues like military deployment and weather disasters, some insurance companies will even cover cold feet. Not so fast, though, only financially-interested parents or friends of the couple of the couple who have funded part or all of the wedding can take out policies against a missing bride or groom on the wedding day.
According to Travelers, the most common vendor- and venue-related problems include the facility or vendor going out of business, flowers and photos not being delivered and vendors not showing up. Sickness, injury and mishaps accounted for 19 percent of the wedding insurance claims and catastrophic weather-related problems accounted for 10 percent. Vandalism and theft represented 13 percent of claims, a new category revealed in the 2011 analysis. Other problems, such as military duty/deployment, unavoidable cancellation of weddings and issues with attire accounted for an additional 17 percent of the claims.
Now, before you panic, it's worth noting that unforeseen incidents are the reason why MyDeejay boasts the most rock-solid emergency DJ system in the country. In the highly unlikely event that something happens to your DJ on his way to your wedding, our on-call emergency DJ already has your playlist, planning forms and music ready to go. Despite the fact that we have never had to send the emergency DJ to cover a wedding, we continue to maintain this system for the same reason you might want wedding insurance - just in case. It is costly for us to compensate one DJ from our roster to sacrifice his weekend just to be available but the peace of mind it offers our clients (and us since we want our clients to have a perfect wedding as much as they do!) is worth every penny.
It's also worth noting that working with an established vendor with a proven track record of delivering on promises to clients can virtually eliminate the possibility of missing flowers or a ruined cake. Accidents do happen even when dealing with the most reputable vendors though, and what if your florist is stuck in 3 feet of snow before your December wedding?
A wedding insurance policy might come in especially handy if you have decided not to hire a wedding planner, since a planner can often make the most out of seemingly impossible situations. Kelley Cannon of Kelley Cannon Events explained it this way for a blog post we did back in February: "Even the most well-planned events can have unexpected things happen. For example, your limo driver gets lost or in an accident, your cake gets damaged in transit, there is unexpected inclement weather or a guest has a medical emergency. We feel having a planner is like having an insurance policy on your day. We work to ensure that the original plan is executed and should something go wrong, we are there to use our knowledge and expertise to troubleshoot so you can truly enjoy your day stress-free and not be burdened with the behind the scenes details."
The good news is that wedding insurance is probably a lot cheaper than you think. And can you really put a price on peace of mind? Talk to your existing auto/home/life insurance agent to see if they offer wedding insurance. We're sure everything will be perfect on your wedding day but, you know, just in case...