You’ve put countless hours into making sure your wedding is everything you’ve dreamed of. And, chances are that you’ve spent thousands of dollars, too. Making sure it’s insured can put your mind at ease.
The average American couple spent about $30,000 on their wedding and reception in 2022, according to wedding planning site The Knot. But, anything can go wrong that could jeopardize the money you’ve already spent, from a fall on the dance floor to a hurricane moving through your destination on your date. Or, a no-show photographer or caterer, or even your dream venue going out of business isn’t impossible.
Wedding insurance can step in and help to cover these situations. It comes in two forms — wedding liability insurance and wedding postponement or cancellation insurance. Liability coverage can protect you from being held liable for injuries or damages to venue property, while cancellation or postponement coverage can cover things like the need to cancel because of a catastrophic weather event or a sudden illness. While wedding insurance might not be able to make sure your big day goes perfectly to plan, it can help reimburse you for expenses or your financial loss.
Here are CNBC Select’s top four picks for best wedding insurance companies. (Read more about our methodology below.)
Travelers Wedding Insurance
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Cost
The best way to estimate your costs is to request a quote
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Maximum coverage
Varies by state, up to $250,000 cancellation coverage in many states
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Policy highlights
Travelers wedding insurance plans offer a wide variety of coverage in its cancellation plans and high limits for liability coverage. It offers no-deductible coverage for both liability and cancellation insurance and doesn’t have surcharges for destination weddings or additional insureds.
- No deductibles for basic or liability coverage.
- Not available to residents of Alaska, Hawaii and Louisiana
Travelers wedding and special event insurance stands out for being backed by a reputable and well-known insurance company. Plus, its policies offer high limits, allowing couples with larger budgets to get the coverage they need. With no deductible on liability coverage, Travelers is a strong choice to cover your big day. Coverage is available in most states and some international destinations and policies can be purchased anytime from two years to 25 hours before your wedding.
Markel Wedding Insurance
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Cost
The best way to estimate your costs is to request a quote
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Maximum coverage
$2 million liability coverage available
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Policy highlights
Markel’s wedding insurance policies offer high limits for cancellation and postponement coverage and offers a discount for buying both types of coverage. The company offers online quotes and coverage for weddings in some destinations outside of the US.
- 15% discount for wedding liability and cancellation coverage when bought together (10% discount for Florida residents).
- Cancellation insurance only available in select states.
- Cancellation policies have a $25 deductible for each area of coverage.
Markel specializes in specialty insurance coverage, including event and wedding insurance. The insurer stands out for its wide variety of locations available, including many international destinations. It offers a 15% discount for bundling liability and cancellation coverage, as well as a $5,000 event cancellation add-on for those looking for liability policies for just $50.
Wedsure Wedding Insurance
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Cost
The best way to estimate your costs is to request a quote
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Maximum coverage
$5 million for liability coverage
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Policy highlights
Wedsure’s flexible cancellation and liability insurance gives the ability to select the coverage you need and exclude the coverage you don’t. Quotes are available online quickly. Wedsure offers coverage backed by Allianz.
- Flexible coverage allows you to just add what you need
- Coverage for rented property is available
- Liability coverage not available for many destination weddings outside the US and Canada
For couples having untraditional weddings or those who already have some protections in place, all of the coverages of a standard wedding insurance policy may not be useful. However, Wedsure makes it possible to only pick what you need. Optional add-ons include hhange of Heart coverage, which is available under Wedsure’s cancellation insurance and helps recoup costs if you don’t end up getting married, as well as gift protection. Wedsure’s policies are underwritten by Allianz, which is a large, reputable insurer with stable financial ratings.
WedSafe Wedding Insurance
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Cost
The best way to estimate your costs is to request a quote
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Maximum coverage
Up to $5 million liability coverage
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Policy highlights
WedSafe’s wedding insurance offers affordable coverage that can help with a variety of situations. A 24/7 claims service is available, and WedSafe allows purchasing and quoting online.
- 15% discounts on liability and cancellation coverage when bought together
- Surcharge for weddings taking place in the UK, Mexico, the Bahamas, Bermuda and the Caribbean Islands (excluding Cuba)
- A $25 deductible for each coverage category may apply for cancellation policies
Wedding liability insurance can cover you if you’re faced with an injury or property damage during your wedding. WedSafe offers six liability limit options up to $5 million and includes host liquor liability for those serving alcohol at their celebration. Plus, you can get up to a 15% discount for bundling wedding liability and cancellation coverage. With online coverage available in minutes, it is simple to get a policy that will meet your venue’s requirements.
Some venues require liability insurance to book your wedding. Additionally, having cancellation insurance can help protect the investments you’ve already made if something goes wrong on your wedding day or other covered events.
While each policy can be slightly different, wedding liability insurance includes things like accidents and property damage that you could be held liable for during your event. Wedding cancellation or postponement coverage can protect you if something goes wrong, like a venue going out of business, a no-show vendor, or a catastrophic storm in your venue’s area. However, it’s worth noting that a change of heart on the part of the couple generally isn’t a covered reason for cancellation.
Wedding liability insurance policies generally start at around $150, and cancellation coverage generally starts around $125. However, the state you live in, the state where your wedding is taking place, and the amount of coverage you need will all influence the price you’ll pay for coverage.
For wedding cancellation insurance, you’ll want to select a limit that covers the total amount you’ve spent on the event. For wedding liability insurance, check with your venue to see what amount is required to be covered.