You guys have given me great advice before so I'm hoping you can do it again about wedding insurance. I've been doing research all day about it but I can't decide if it's a really smart idea or a rip off! Here's some details. My venue is a very established and well respected country club. It is very unlikely to close unexpectedly. My vendors are also all owners of established businesses. I trust them totally to do their jobs. My venue doesn't require us to purchase insurance. They have their own liability insurance but say we are still responsible for our guests. We will be serving beer and wine but don't expect any of our guests to go crazy and destroy the place. Our wedding will be in the summer so no threat of blizzards and a tornado /severe thunderstorm is possible but unlikely. I guess with all that being said the chances of needing the wedding insurance are very low. Do you think it's worth spending the $350 I was quoted? I'd love to use that money elsewhere but I don't want to regret it later. Thanks!
Our venue ended up requiring it, but you should definitely get the insurance. It’s always better to be safe than sorry and you don’t want to start off your marriage in debt or with a lawsuit if all goes wrong at your wedding.
Our venue required insurance for us to book with them. Honestly, I don't think it is a bad thing to have. There is only a 1% chance of you actually needing it, but I'd rather be safe than sorry. If our venue didn't require it, we still would've gotten it.
Hey there, Monica This really is a personal decision you and your FS need to make. As with any type of insurance, it's hard to know if you'll really need it. You buy it with the hopes of never needing it!
Personally, I would want wedding insurance even if my venue didn't require it. Anything can happen (injury, accidents, bereavement, etc.) and with the money that I would be spending on a wedding, I would want some way of recouping the costs if I had to cancel.
Do you and your FS own a home? If so, you should call your insurance agent to see if the liability portion of your homeowner's insurance will cover the wedding.
Our venue requires it, but we can go through our home insurance for it. If you have that, you should be able to add the venue as a one day insurer for the day of the event. In the grand scheme of things, I would rather pay a couple hundred to cover thousands. Seems like something thats good to have and not need, than to need and not have.
Our Venue doesn't require it and our reception doesn't go into all the hours of the evening. When I spoke to our event coordinator/day of coordinator (she is the same person), she has known my mother and for a very long time. She said not to sweat it! So it saved us there. Now, if we were going into all hours of the night then I would do it. But I felt like it was a rip off for sure!
If you're confident in the vendors you've chosen, that is awesome. Beyond this, we got insurance in case of some sort of medical emergency on our part or the part of our family. Although it's extremely unlikely, I don't want to have to make a hard decision in case of an already difficult time like that. Of course, I assume we won't need the insurance for any reason, and I hope we're right! Through Wedsure we purchased it for $303.
There are basically 2 different kids of wedding insurance. Some responses above are referring to liability insurance which is often required went you rent a space and bring in your own vendors. What the OP is referring to is insurance that covers them if the event has to be cancelled due to a catastrophic event, or a vendor fails to uphold their contact. In either case, I would contact your own agent rather than purchasing anything labeled “wedding insurance”. Oftentimes that label comes with added expense. Your agent can usually provide the same coverage for less money. Whether or not to get it depends. If you’re hosting your own event at home or are required by your venue, then yes you need liability coverage. The other depends on your own tolerance for risk. My one daughter paid less than $200 for hers and felt it was worth it for peace of mind.
Our wedding insurance covered us for if someone had an accident after they had been drinking at our wedding (because you can be held responsible in a lot of places) or if something happened to the venue. You said it's established- so it likely won't close down - BUT (and I hate to even say it) it's unlikely to be fireproof, flood proof, tornado proof . . . It was completely worth the money it cost us for the peace of mind.
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Yeah, that does make sense! We unfortunately don't have home owners insurance but we do have renters insurance. I'm not sure but I think I'll look into that if it's any cheaper. Thanks!
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Thank you! That is very helpful advice! We don't own our home but I will try to check with our renters insurance to see if that is any cheaper or they offer something. Thanks again!
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That is true! The chance of those things happening is small but if they did that would be so bad. Question though just so I understand, worst case scenario the venue burns down. From my understanding the wedding insurance will then give us money to put a deposit down elsewhere, right? But won't the venue already refund us for this without the insurance?
Not necessarily. Depending on the venue (and your contract) your choice may be to change your date, which is unlikely to be awesome or to lose your money, which is definitely not awesome. It all comes down to what can you live with as far as nerves go. It was worth it for me, for the peace of mind and it wasn't that expensive. I think I went with Travelers "event" insurance (though it's been awhile so I'm not 100% sure).