Are you in the process of planning a wedding? You may anticipate the perfect day, but are you prepared for the unexpected? Wedding insurance is a specialty insurance that protects you when plans go awry. As much as you'd like to have everything under control, what will it cost if the photographer doesn't Show up? What if the weather takes an unexpected turn for the worse? Or what if the groom gets a nasty stomach bug that sends him to the hospital?

The average bride and groom will fork out $15,000 for a wedding this year. The deposits to secure things like the venue, photographer, or caterer cost about $2,000 to $5,000 on average. Losing these deposits could mean financial disaster for almost anyone.

This is where specialty insurance comes into play. It covers you when an unavoidable catastrophe turns your plans upside down.

Expect the Unexpected
A specialty insurance policy covers a variety of calamities that can ruin a wedding event. For example, if a person who plays a crucial role becomes seriously injured or sick, a wedding policy will cover the cost of cancellation. You can also recover your costs if the person who is officiating the nuptials, like a minister or rabbi, is a no-show. This is true for photographers florists, and caterers as well.

Everyone hopes for a perfect wedding day, but a number of things can go wrong even in the most well-planned event. For peace of mind, you can find specialty insurance plans to cover your wedding no matter how large or small. Prices for policies may cost anywhere from $135 to $300.

Riders Cover the Details
You may purchase riders for additional coverage. Consider the many options that could give you peace of mind and protect you from a costly tums of events.

For example, if the bride or groom is in the military, consider adding a rider for military service. If you're called to duty after you've already made your plans, your deposits will be covered when you cancel.

  • A rider will come in handy if the store that holds your gown or tuxedos goes out of business, burns down, or damages your purchase.
  • A rider that covers your gifts is handy if homeowners or renters insurance won't cover them. This will cover any theft or damage.
  • A liability rider is useful if you're having a wedding at home. This way. you'll be protected if someone is injured on your property.

Honeymoon plans can go awry if the bride or groom gets sick, if a hurricane destroys your island getaway, or if a family emergency postpones your trip. If you're planning an expensive honeymoon, getting it insured can pay off in the long run and ease some of your worries.

Read the Fine Print
Wedding insurance policies don't cover everything. Don't neglect the fine print details or you may find yourself out of luck.

For example, you might not be covered if you become injured after taking part in certain high-risk activities The New York Times describes a wedding policy that doesn't cover expenses if a person sustains bodily injury after "taking part in any hazardous or activity, including (but not limited to) hunting. skiing, or sledding racing of vehicles of any kind; skin diving or sky diving."

You also may not be covered if you cancel your event due to injuries from a biking or climbing accident, riding a horse, or playing paintball.

Change of heart coverage pays if a case of cold feet happens at least 180 days before the wedding, but the person paying for the event can't be the bride or groom. Also, gifts may be covered, but not all types of gifts and not in every situation.

Keep in mind that specialty insurance used for weddings may also be used to cover other special events, like graduation parties, bar mitzvahs, or anniversary celebrations. Sometimes weddings don't work according to plan, and in these cases specialty insurance can be a tremendous benefit. For peace of mind and financial protection, a wedding insurance policy is a smart investment.