With the global pandemic happening, many couples have had to make the difficult decision to either cancel or postpone their special day. We understand, now more than ever, the importance of having wedding insurance in case the unexpected happens. Insurance needs are different for every wedding, as budgets and specific needs vary.
Although we cannot predict every situation that may come our way, such as COVID-19, and some insurance options may not cover a “pandemic”, having a plan in place could save you thousands of dollars. Obtaining the right wedding insurance policy for your needs is well worth the peace of mind knowing that you are protected in the unfortunate case of a sudden illness, inclement weather, a venue unexpectedly going out of business, a vendor falling through, or many other trying scenarios.
There are two types of insurance: liability and cancellation. Liability covers injuries or damage to the property where you will have the wedding. Cancellation protects from unforeseen circumstances, that may lead to a postponement or cancellation of the wedding (Again, keep in mind that this may not be offered at this time by some insurance companies and a pandemic may not be included in coverage). Another important aspect is the risk assessment. Try to match the insurance to the total wedding expenses, to avoid paying for damages that may not apply to you.
Consumers Advocate in-depth research includes wedding insurance options, policies, customer service, and average costs. Make sure to always shop around, as this helps to determine what policy best fits your needs as a couple. Knowledge is power!
As we are all navigating through the uncharted waters of COVID-19, some companies are not offering cancellation coverage for couples who are already in the planning phase. There may be updates to this policy as time goes by, but it is something to keep in mind as you begin reaching out to see if wedding insurance is right for you. Regardless, it never hurts to reach out to a few different companies, and see what your coverage options are!
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