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Kip Tips

Should You Buy Wedding Insurance?

Cameron Huddleston

A policy can protect your finances if something goes wrong on your special day.

Although the royal wedding of Prince William and Catherine Middleton seemingly went off without a hitch, not all weddings are of fairy-tale quality.

Sometimes the photographer doesn't show up or the caterer goes bankrupt before the big day or a hurricane blows in just in time to ruin a beachside ceremony -- and you're left with a hefty bill for a disaster rather than a special day. That's why you might want to consider purchasing wedding insurance.

It's a form of special event insurance that provides reimbursement for nonrefundable deposits if the wedding needs to be canceled or postponed due to a natural disaster, death, illness, serious injury or other catastrophe listed in the policy, says Jeanne Salvatore, senior vice-president and consumer spokesperson for the Insurance Information Institute. Policies also provide protection if the caterer, photographer or florist bails on you. Salvatore says some insurers even offer coverage for cold feet, providing someone other than the bride or groom is paying for the ceremony (generally the parents) and the couple breaks up more than 180 days before the wedding.

Before you purchase a policy, you should consider these tips from Salvatore:


-- Ask your insurance agent what wedding-related coverage you may already have through your homeowners, renters, auto or liability policy.

-- If your current policies don't provide any coverage, shop around and compare different wedding insurance policies for cost and range of coverage.

-- Before buying a policy, find out if the insurer is licensed to do business in the state where the ceremony will be held.

-- Determine how much the policy will cost and what is -- and is not -- covered.

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