1. If you already have a relationship with an insurance company, contact your agent about adding a timed rider to your plan—a policy that gives you a specific kind of protection for a set amount of time. If you don’t already have an agent, contact WedSafe.com or Fireman’s Fund’s Weddingsurance, both of which specialize in wedding coverage. Look into your options early: WedSafe, for instance, requires that you purchase insurance more than fifteen days before the wedding.
2. Cancellation/postponement insurance is one of the first things you should consider. With this coverage, the insurance company will reimburse you for nonrefundable expenses, like deposits, should you have to reschedule because of circumstances beyond your control, such as illness (which, depending on your plan, may also apply to immediate family) or damage to the reception hall. Most companies do not consider a change of heart to be an acceptable reason for cancellation.
3. Customize your coverage. WedSafe, for instance, offers ten levels of cancellation/postponement insurance, with $7,500 on the low end and $175,000 on the high. Tailor your plan by adding riders for jewelry, photography, special attire, and miscellany. Plans vary, so read the fine print carefully. For lost-deposit coverage, you may be reimbursed if a vendor fails to provide a service related to transportation, food, or accommodations, and so on. Remember to ask how much time you have to submit any claims.