Here’s why wedding insurance should be on your marriage to-do list

The average wedding held in 2022, including expenses for both the ceremony and reception, cost $30,000, according to The Knot, underscoring the importance for couples to take preemptive measures to ensure everything runs smoothly, since there are potential unforeseen issues that may arise on the special day. 

One way to protect wedding expenses is by purchasing wedding insurance. Here’s what you should know.

What does wedding insurance cover?

Wedding insurance protects soon-to-be brides and grooms from unforeseen circumstances.

“A basic wedding insurance policy can help ensure the couple is protected against issues such as no-show vendors and/or photographers, damaged or lost wedding attire, unanticipated wedding postponements, military deployment and more,” says Todd Shasha, assistant vice president of personal insurance at Travelers Insurance. “As every couple is different and requires different coverage, it’s important to work with an insurance representative to build the perfect insurance policy for them.”

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According to Travelers, the top wedding insurance claims from last year include: 

Vendor issues – 31%

Property damage – 19%

Weather problems – 16%

Illness/injury – 15%

Lost or damaged attire – 9%

Deployment – 4%

Other – 4%

What does wedding insurance not cover?

According to Shasha, Travelers Insurance’s Wedding Protector Plan does not provide coverage if either party changes their mind prior to or on the wedding date, and decides to cancel the event.

Why is wedding insurance so important? 

It’s impossible for anyone to know exactly what will occur on the day of their wedding, says Shasha.

“That’s why wedding insurance is so important – it helps couples protect themselves from unforeseen circumstances and issues that may arise on their special day,” he explains. Without this type of protection, couples could be left responsible if a vendor cancels the day of their wedding, if special jewelry is lost and much more, he says.

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Overall, no matter the size of your wedding, the nuptials often require a significant investment of both time and money.

“A wedding insurance policy is an affordable and proactive way to provide peace of mind leading up to your special day,” Shasha says.

What else is on the minds of engaged couples?

Travelers Insurance surveyed more than 450 soon-to-be brides and grooms regarding their sentiments heading into their weddings. The results revealed that brides and grooms are most worried about weather (29%) and family issues (29%) ruining their special day.

Costs are also on the mind of wedding-planning couples.

“Through our recent wedding consumer survey, we found 41% of brides and grooms are cutting costs due to inflation by reducing the size of their guest lists, eliminating an open bar (30%) and cutting back on transportation (31%),” Shasha says. “However, this heavily depends on what is important and what isn’t to each specific couple.”

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What’s worth the splurge for couples?

According to Travelers’ survey, says Shasha, most are willing to spend the extra money on their honeymoon (59%), great food (44%) and an open bar (33%).