The wedding season is fast approaching. Brides and grooms will make many decisions, including whether they should get wedding insurance. Is it a worthwhile investment?
"No couple would ever think they would be forced to cancel, but it happens -- extreme-weather events, reception venues closing, an illness or accident of a key participant," says Steven Lauro, vice president of Aon Affinity in Jericho, which offers the WedSafe wedding insurance program.
A LOT CAN GO WRONG
Wedding insurance also typically reimburses you for things like lost rings, or stolen or damaged gifts. You can also add coverage to protect you in case someone at your wedding is injured or causes damage to property or people. Truth is, a lot can go wrong with weddings that, on average, cost about $25,000.
COST IS NOT A DEAL-BREAKER
. "There is a perception that wedding insurance is more expensive than it actually is. Couples may not realize all the benefits it can offer," says Chantal Cyr, vice president of personal insurance for Travelers in Hartford, Conn.
According to Mara Opperman, co-founder of wedding website idonowidont.com, you can get a policy for $120 to $600, depending on the amount of coverage.
FIND OUT WHAT'S COVERED
Be clear about whether your policy has a deductible, what it covers and what it doesn't. Most, for instance, don't cover "cold feet."
Policies also usually don't cover things that may have been already known before taking out the policy, such as known health issues that could interfere with the festivities.