A newlywed couple’s wedding day is an extremely special day, one where everything is intended to be perfect. No matter how much preparation goes into planning a wedding, however, accidents can happen during them. Wedding insurance policies help Massachusetts couples protect themselves from the potential financial costs of a covered wedding-day incident.
Wedding insurance policies are a specialized type of event insurance policies. They’re uniquely designed to meet the insurance needs of people who are hosting weddings. In most cases, a policy is purchased by either the couple being married or a family member who is helping pay for the special occasion.
Most wedding policies are either wedding postponement or cancellation insurance policies, or wedding liability insurance policies. Depending on a host’s needs, they may purchase either or both kinds of policies.
Wedding postponement or cancellation insurance policies generally protect the deposits hosts pay to vendors. If a wedding is postponed or canceled for a covered reason, the policy may offer reimbursement for forfeited deposits. In some cases, a policy might also cover the cost of hiring another vendor if a contracted one is unable to provide their promised service or product.
Wedding liability insurance policies typically help protect hosts from liability claims and suits filed against them. A few common coverages that a host might want in their wedding liability insurance policy are:
Wedding policies can provide many protections, but their coverages are usually limited to a wedding itself and don’t include honeymoons. Couples who want insurance for their honeymoon normally need some form of trip insurance.
As is the case with most insurance policies, Massachusetts insurers take into account many different factors when they’re calculating wedding policies’ premiums. Several of the items they may consider are:
While exact prices for policies vary, insurers are usually able to offer a number of protections at relatively low rates. Because wedding policies normally are needed only during a wedding, a policy’s coverages usually don’t have to be in effect for long. This limits insurance company’s risk exposure and lets them keep premiums affordable.