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Weddings can get expensive — they average $30,000 in the U.S. — and if you have to cancel or postpone your big day, you could lose money in the process. Wedding insurance is designed to cover certain costs if your plans change unexpectedly. Here's what to know about policies you can buy and how much they might cost.
Types of wedding insurance
There are two main types of wedding insurance you can buy, depending on your needs and predicted risk:
- Event cancellation coverage, which handles the costs associated with canceling or postponing your wedding.
- Liability coverage, which insures against bodily harm to guests or others that may result from attending your ceremony or reception.
Average cost of wedding insurance
Couples who buy insurance coverage typically pay $275 for a policy. Wedding insurance can cover expenses if you're forced to cancel or postpone your event, but your premium largely depends on the coverage limits and what you include in the policy.
Cost of wedding cancellation coverage by category
Here's what your coverage could cost based on the various coverage limits by category.
Photo or video
As you add coverage, the percentage you pay in premiums for that coverage goes down. At the high end, consumers pay approximately 0.5% of the total cancellation/postponement coverage as a premium.
How much wedding insurance do you need?
Not everyone needs coverage to handle the risks of a canceled wedding. A wedding venue that handles all the details of your big day may refund any lost expenses if they cause the cancellation or postponement. They may also have insurance coverage of their own. If you feel you can absorb additional costs as they arise, then you might not need additional coverage.
But if you're set on getting wedding cancellation coverage for peace of mind, then you should look at limits that handle most of the major costs in your wedding. This should include the cost of the:
- Clothing for your ceremony and reception
- Honeymoon costs
If you're opting for coverage, then take a look at these expenses to make sure you have adequate coverage.