How To Cut Down on Wedding Insurance Costs in 2022
Cold feet
If one or both of the supposedly happy couple decide last minute that they are in fact not ready for marriage, they will not be eligible to claim insurance. Even if they make this decision prior to the day of the event, there’s no coverage for indecisiveness. Make sure you know you want to marry the person before you whip out that credit card.
A runaway bride (or groom)
Suppose one partner in the couple spontaneously flees from the alter without any prior warning. As terrible as that would be, it would not be covered by your event insurance. So, don’t wait for the wedding officiant to say “If anyone objects to this marriage…” to drop a bomb on your wedding day. Have all the difficult conversations at least one week prior to the wedding.
Fine jewelry/engagement ring/luxury attire
If your wedding attire is ultra–luxurious, it may not be covered by most wedding insurance plans. After a certain price point, special items are no longer covered by basic insurance. No need to panic, though. If you need insurance for these items, they can be covered by a separate premium. Your engagement ring can also be covered by your homeowners insurance or renters insurance.
Your honeymoon
While exploring exotic locations with your loved one may sound like an absolute dream, there are hundreds of things that can go wrong when you travel. Especially with COVID-19 cancellations and sporadic travel restrictions, you’d be smart to err on the side of caution. If you are planning on having an expensive honeymoon, look into travel insurance.
Liquor Liability Insurance
Whether the event calls for wine paired perfectly with your dinner, a dainty champagne toast or a night of throwing down tequila shots, wherever there is alcohol, there is potential for alcohol abuse. Limiting how much your guests drink may not be an option, but limiting the risk of financial loss through damages and liabilities can and should be done. This is where liquor liability insurance comes in.
A wedding is a sacred event for the union of two souls. The lucky couple aside, there are also jealous exes, lonely singles and generally disagreeable family members and friends who might just start a fight after having one too many drinks. A small fight could lead to a food fight, or worse, the throwing of tables and chairs. Anything is possible when tensions are high and liquor is freely flowing.
Even without any animosity present, there can be accidents. Slipping and falling on the dance floor, damaging the venue property and breaking glasses are common incidents where drinking is concerned. According to the online wedding consultant WedSafe, liquor liability for wedding insurance costs relatively little and can save you up to $5,000,000 dollars, depending on your coverage.
