T he 11th hour cancellation of the weekend wedding of San Antonio Spurs basketball player Richard Jefferson pictured right with his fiancee's broken heart, is very sad for all parties involved. With reported wedding expenses right at $2 million it makes even the most lavish local wedding seem understated by comparison. It also makes one wonder if the bride and groom had taken out a wedding insurance policy. More importantly, if they had the insurance, would Jefferson’s change of heart have affected what would have been covered?
Wedding insurance protects the savvy
Weddings have become complex business dealings often requiring a year or more to organize. Savvy brides, like savvy business people, often make a minor investment in an insurance policy to give themselves peace of mind should the unforeseen upset the wedding applecart. Weather, vendors, faulty equipment, illness or any number of occurrences outside the control of the bride and groom can disrupt even the most well planned wedding. The coupled pictured below left, contracted Swine Flu but proceeded with their June wedding anyway. Wedding insurance would have allowed them to postpone their nuptials until they were both well. Wedding insurance is surprisingly affordable. Based on the wedding budget, most policies can be purchased for between $100 and $600.
Wedding insurance is typically purchased based on the home state of the bride or the person bearing the financial responsibility for the wedding. This is irrespective of the state in which the wedding is scheduled to occur. Several different insurance companies offer wedding insurance to Texas brides. As it is so quick and easy, most couples purchase their policy on-line. One of the most popular is WedSafe recommended by several Houston high end wedding planners and also featured in The Knot.
Recovered deposits and liability avoidance
Wedding insurance can help recover deposits if vendors don’t show up or go out of business. Last year’s highly publicized closing of one of Houston’s most popular wedding venues left many brides without a reception site and no way to recoup their deposit. Wedding insurance is designed to cover just this kind of scenario. Besides recovering lost deposit insurance can provide additional benefits. Some venues now make it a condition for renting their facility that the event host carries liability insurance. This type of wedding insure provides coverage should one of the invited guests become injured on the premises, cause an accident while inebriated on the way home or should other unforeseen situations occur for which the venue could potentially be held liable. Homeowners insurance almost never provides protection for events away from home, but check with your insurance agent for the final word.
Yes, you can change your heart
Until a couple of years ago, the runaway bride (or groom) syndrome left everyone standing at the alter, including the bride’s family if they had born the brunt of the wedding expenses. Now thanks to a new type of insurance rider, for less than $50, the financially responsible party who is not the bride or groom, can recover costs based on change of heart. To date, Fireman’s Fund is the only insurance company to offer this type of policy. For more information visit their website where you can obtain a free quotation on a full wedding insurance, including reimbursement and liability insurance policies based on your expenditures.
From all reports, it appears Richard Jefferson isn’t too concerned about loosing the deposits on his cancelled wedding. For him, insurance may never have crossed his mind. Most brides don’t have NBA level salaries to fund their dream weddings. So if you find yourself in a financial wedding bind, it is much better to have an insurance policy to fall back on than an ex-groom.
PHOTO CREDITS: Photo 1: AP Photo/Eric Gay with a little enhancement from the author of this article with apologies to Mr. Gay; Photo 2: Taken Sunday, June 14, 2009 provided by Duhon Studio Photography in Skokie, Ill., Ilana Jackson, left, and Jeremy Fierstien wear surgical masks during their wedding in Highland Park, Ill. The couple wore masks and latex gloves after finding out less than 48 hours before the wedding that they had swine flu. They decided to go ahead with the ceremony after doctors assured them guests wouldn't be put at serious risk. (AP Photo/Duhon Studio Photography, Sukit Subanersanti) MANDATORY CREDIT, NO SALES
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Wedding insurance is typically purchased based on the home state of the bride or the person bearing the financial responsibility for the wedding. This is irrespective of the state in which the wedding is scheduled to occur. Several different insurance companies offer wedding insurance to Texas brides. As it is so quick and easy, most couples purchase their policy on-line. One of the most popular is WedSafe recommended by several Houston high end wedding planners and also featured in The Knot.
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