WPCNR'S THE REAL DEAL By The Wedding Jeannie, Jeannie Uyanik, of Cap and Gown Weddings. June 21, 2008: To insure or not to insure, a common question in this day of $100,000 plus events.  But even at $20,000 dollars, families and couples are spending more and more of their relative income on large affairs and with that comes the fear of losing it if the unexpected happens.  Common concerns include weather related disasters, illness of an important family member or cancellation of the event for any reason. 

The primary question is whether or not to insure yourself against any of these things from happening. Depending on the range of insurance that you choose to buy, costs can range from $200-$1200, but the average tends to be between $400-500.  A popular company from which to purchase wedding specific insurance is www.wedsafe.com.

It’s important to note that “change of heart” cancellations are NOT covered by this company or any other wedding insurance firm.  There are of course exclusions as to what will be covered; pre-existing conditions being among the most common.  If you are worried about the health of an elderly immediate (this word is important; clarify with each company what immediate means) family member, who has a known condition at the time of insurance purchase, this will not be covered.  As with anything, read the fine print carefully. 

Wed Safe makes it easy to navigate the site and determine both what the best policy for you might be, as well as the actual wording in each – there is a sample policy available right on the site.  Wed Safe also offers Liability Insurance, which some locations and venues will require of the couple; especially for events at private residence.  This can also be obtained directly through or as a result of the home owner’s insurance company that might be in place for a private residence already, but if you are hosting an event at a new location, or a rental property, then Liability Insurance from Wed Safe is easy and provides necessary coverage. 

Wed Safe also runs www.privateeventinsurance.com, which as its home page indicates, protects against loss for anything from holiday parties and Bat Mitzvahs to family reunions and house warming events.  Often, for 1% of the cost of the event (if we assume a $500 policy for a $50,000 event) families take great comfort and piece of mind from knowing that they are covered in case of an unforeseen event.  In the aftermath of both 9/11 and the north east blackout in August 2003, we found that insurance, which was not remotely common then, would have been useful, but the damage to the bottom line was still inevitable.  In both cases, the weddings with which we were participating went ahead as planned, but with major alternations and a great deal of sensitivity and understanding. 

So, to finally put the age old question of whether to insure or not to insure to rest, it comes down to nerves.  If you are a type A, control everything and have back plans for anything type of person, then event insurance is definitely the way to go because it provides priceless piece of mind at a reasonable level.  Would I get insurance you might ask?  Absolutely.  If however you are pretty relaxed and more of the “whatever happens we will deal with it”, then keep the $400 and go to a nice dinner.  Much of what happens when insurance is a necessity cannot be covered or replaced, so more important than insurance is good planning and being prepared for any thing that happens.