Last Updated: July 21, 2022

The 411 on Wedding Insurance Costs: Protect Your Special Day

TLTR: This article covers all aspects of wedding insurance, including liquor liability and hired help insurance. It discusses the costs involved so you can plan your budget and enjoy the wedding of your dreams with the peace of mind of knowing that you’re financially protected.

A lifetime of love and happiness often starts with a big, costly affair known as a wedding. A big wedding with numerous guests and reception takes a lot of thought and planning. If you’ve got one of these events in your future, one question you should consider is, “Should we buy wedding insurance? This thing is expensive enough as it is.”  

As reported by TheKnot, the price of an average wedding cost 2020 was $19,000. With that much money involved, it might be difficult to imagine feeling the need to burden yourself with the additional cost of wedding insurance. But the right type of wedding insurance can actually save you money. You can’t afford to buy it when it comes down to it. We’re here to explain why.  

In this blog

What Is Event Insurance for a Wedding?

While large events and parties can be a blast for the guests who attend, they can be quite stressful for the hosts. Accordingly, it’s become common practice to purchase special event insurance for any large event, public or private. It protects the hosts from numerous unnecessary financial losses that can occur. Event insurance for a wedding is no different. Wedding insurance costs go into making sure the hosts are covered for all of the things that could possibly go wrong.  

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What Exactly Can It Cover?

Every common wedding mishap can be covered with a combination of wedding insurance policies. While different mishaps may require different plans and policies, there is very little that cannot be covered. From basic things like the venue to smaller details like the flowers, everything can be insured.  

Here’s a list of the most popular types of coverage: 

  • Cancellation or postponement of the event 
  • Vendor no-show 
  • Untimely military deployments 
  • Weather conditions 
  • Damage of the site 
  • Sickness or injury 
  • Event photographs/videos (with wedding photographer liability insurance) 
  • Event gifts 
  • Special attire (with certain premiums) 
  • Special jewelry (with certain premiums) 
  • Lost deposits 
  • Liability insurance (optional coverage) 
  • Liquor liability insurance (optional coverage) 

Imagine spending thousands of dollars on your wedding deposit at a prime location, only to lose it all because of a sudden COVID-19 lockdown. According to a large survey taken by Greenville Business Magazine, 63% of the 900 engaged couples surveyed in 2020 were forced to postpone their wedding at the last minute for this very reason.  

The average price of a wedding venue costs between $3,000 and $10,000, and high-end locations can reach six-figures. With this in mind, during these unprecedented times, a little insurance can go a long way. 

Wedding attire is also very expensive and accessories are all quite delicate and easy to lose. Everything from the dress, the tux, the garter, the veil, the engagement ring, and the wedding band can and should be insured. All sorts of accidents are possible before, during and after the wedding day. Buying insurance for the pieces that matter to you most makes it easier to preserve these things for generations to come. 

    How Much Is Event Insurance for a Wedding?

    Wedding insurance costs are quite reasonable. According to wedding experts at The Knot, general liability insurance for events costs an average of $185 for basic plans and covers up to $1,000,000 for accidents. However, policies do vary, and for higher budget weddings, the recommended coverage can cost you up to $1,000.  

    Regardless of your budget, wedding insurance costs just a tiny percentage of your overall expenditures. The more lavish and expensive your wedding, the higher your insurance costs will be. However, if you can afford a big wedding, you can certainly afford the insurance to cover it. 

    What Event Insurance For a Wedding Won’t Cover

    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 ultraluxurious, 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. 

    Insurance For Hired Help on Your Special Day

    A wedding cannot happen without assistance. Those who aren’t lucky enough to have friends and family members skilled and willing to take on some of these tasks will have to hire various kinds of help. When hiring help for your wedding, look into their insurance. It might sound tedious, but if anything falls through and your staff is not insured, the heat will fall on you. Avoid unpleasantries by hiring insured staff only, or buying your staff insurance. 

    Bartender Insurance

    Your bartender can be insured by day or even by the hour. This insurance will protect against liability risks. Bartenders can be held accountable for guests getting drunk and coming to harm or causing harm as a result. Make sure any bartender you hire is insured to avoid such conflicts.

    Wedding Performer Insurance

    Whether you’re hiring a DJ, a live band, or a harpist, every performer comes with expensive equipment. What happens when your clumsy cousin spills a drink and shorts out the P.A. system? Or a mischievous child snips the harp strings with a cake knife? Make sure your performer is insured or buy them insurance to avoid the embarrassment

    Wedding Photographer Liability Insurance

    Wedding photos are essential. They are the ideal décor for a newlywed couple’s home as well as the most liked posts on their social feeds. An insured photographer is essential for the protection of these photos that will be forever cherished by the generations that follow. 

    Wedding Cake Insurance

    Yes, you read it correctly. If you’re planning on going all out on a wedding cake, you need to make sure whoever you bought it from is insured. Cake, like all foods, has the potential to make people sick. Keep those medical bills at bay by buying from insured businesses only.

    Florist Liability Insurance

    Your florist also needs to be insured. This might sound a little excessive. They are just flowers, right? Wrong. From the bouquet to the centerpieces and other decorations, flowers are essential. Flowers are an important, expensive and delicate key component to a wedding. Be very careful that your florist is insured to ensure the freshest flowers for your venue.

    In Conclusion

    The memories of a beautiful wedding shouldn’t be marred by the necessity of covering losses from an already expensive endeavor. Weddings are supposed to be anticipated, enjoyed and cherished. The planning and the aftermath of your special day shouldn’t take an unnecessary toll on your bank account or mental state. For this reason, wedding insurance costs are more than worth it. They exist not to break your bank, but to give your bank account a break. 

    Does this sound like something you could use for your special day? Find an agent today. Head to the comment section if you have any more questions, or comment if you’d like to share something about your wedding planning experience. 

    Frequently Asked Questions (FAQs)

    What are the top wedding insurance companies in 2021?

    What are the top wedding insurance companies in 2021? 

    They are, according to Investopedia: 

    • Best Wedding Insurance Customer Service: EventHelper  
    • Best for Certificates of Insurance: WedSafe 

    Is wedding insurance a one-time payment?

    Yes, unlike car insurance or health insurance, you only pay for wedding insurance once per wedding.

    What is the average cost of wedding insurance?

    Most couples spend between $155 and $500 dollars total for all of the coverage. However, for higher budget and destination weddings, you would require wedding insurance costs closer to $1,000 dollars. The cost of your wedding will reflect the cost of your insurance, so you’ll always be in a wedding insurance cost bracket that you can easily afford.

    Can I buy wedding insurance from my church?

    You can only buy any type of insurance from a licensed seller. If any type of venue asks for separate charges for insurance, they are scamming you. Find an agent with the legally required license in order to secure the best deals and avoid legal problems.  

    Can I buy wedding insurance after I book my venue?

    Most companies will allow you to buy insurance up to a week before the wedding. However, the planning process will run a lot smoother if you buy all the insurance you need first. This way, you can plan your wedding comfortably and risk-free. 

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    Multiple Coverage Options at Your Fingertips

    Choose from various options and select the policy that best suits your requirements.