“As the director of emergency management operations for Miramar, Fla., (Romeo) Lavarias has seen his share of disasters. So it was a no-brainer when his fiancee, Stephanie Goldstein, suggested buying insurance for their wedding, set for July during the upcoming hurricane season.”
Natural disasters are not the only reasons couples are buying policies, some wedding planners require wedding insurance and of course “many reception facilities now require liability coverage for out-of-control celebrations.” According to Kyle Brown, the executive director of the Bridal Association of America, “fewer than 1 percent of the betrothed purchase policies in the United States.”
As far as what is covered by a wedding policy it really depends on what the insurer has to offer. However, an amazing array of risks are covered including:
“Typical coverage can include reimbursement of nonrefundable deposits for misfortune such as a death in the family or a military deployment. Some policies cover repairs for a damaged dress or replacement of lost wedding attire, theft of wedding gifts, and the cost of gathering wedding party members to retake photographs and videotape.
Policies also can pay for some counseling if canceled or postponed nuptials cause emotional stress, according to the Insurance Information Institute in New York.
Even a “change of heart” can be insured in a special option Fireman’s Fund Insurance Co. began offering this month that costs about $25 on top of the policy. It’s for those who pay for a wedding only to have the groom or bride back out, said insurance broker Rob Nuccio of RV Nuccio and Associates, who wrote the option.”
You can purchase a policy from Fireman’s Fund, WedSafe Wedding Insurance Program and even Traveler’s Insurance (TRV). The cost of a policy will be from several hundred dollars to upwards of $1,000. You’re going to pay about 1% to 2% of your total wedding cost in premiums. With the amount of money being spent on weddings these days I’d recommend buying a policy, just in case.
I had never even heard of wedding insurance before I read this blog... and I have to admit that it lead to a reaction of, well, rolling my eyes. However, on second thought, weddings ARE a huge expense. However, money issues aside, the part of the idea that brought it home to me was the idea of an engaged person losing their fiance/e in military service. In that terrible regard, wedding insurance starts to make a lot of sense.
Jerry
www.leads4insurance.com
Posted by: Jerry | May 17, 2007 10:25 PM | Permalink to Comment