Tying the knot is a beautiful life-event. But it can also be an incredibly stressful time, as one (or both) of you begins to consider all that could go wrong. Having the right insurance coverage can go a long way to removing the unnecessary worries.
Here’s a simple summary of what you need to know:
If you’re getting hitched at a rented facility, the facility will most likely have it’s own coverage in place already. But they’ll often require you to secure special event liability (as well as party or liquor liability). This special coverage will extend to all of your guests and any staff that you bring in, and might also include protection for loss or damage to wedding presents and the dress. In some cases, it can also cover reimbursements for cancellation or relocation of the event itself.
If the ceremony is taking place at a private residence, make sure that the homeowner’s insurance policy is carrying sufficient liability. You may wish to work with them to add a special event policy, just for peace of mind.
Ready for the good news? You’re about to save some money. Married people, on the average, drive more safely than single folks, so insurance providers charge them a lower premium. You’re also able to combine your two policies together, which can lead to additional bundling discounts. Some of the providers that may have given you expensive quotes before may now welcome you as a couple, and might offer significantly reduced rates.
Tenant or homeowners insurance
Renters are responsible to provide their own policy both for liability (which also covers you in case you cause an accident elsewhere) and for their possessions. Homeowners insurance provides the same coverage, while also extending to include physical property itself. (Be sure to provide the insurer with a list of any valuables received as wedding gifts, jewellery and combined possessions.)