I am thinking about investing in wedding insurance.

My fiance and I are paying off the wedding hall in advance, which makes me nervous. I wanted to know if anyone else is looking into wedding insurance or already purchased the insurance. I looked into two websites so far-Travelers and Wedsafe. Does anyone know of a good company to use. Thanks.


the sites

http://protectmywedding.com/index.html

http://www.wedsafe.com/index.html

Re: I am thinking about investing in wedding insurance.

May I ask why you are paying Jericho Terrace all their money upfront?

Re: I am thinking about investing in wedding insurance.

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Posted by Pinkiegirll07

May I ask why you are paying Jericho Terrace all their money upfront?

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I agree, better to put it in a high interest savings account and pay in installments

Re: I am thinking about investing in wedding insurance.

My fiance insists its the best way, but I am nervous about doing that. He feels by July we will be paid off in full for 200 guests and then start the heavy saving. My sister is getting married 4 months after me and thinks we are crazy and thats why I want insurance.

Re: I am thinking about investing in wedding insurance.

I am too. I think it is a good idea, especially if you are paying off your Rh in advance. It's a lot of $$ if (god forbid... ) something happens...sorry to be a downer but I like to be prepared... thanks for the websites!!!

Re: I am thinking about investing in wedding insurance.

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Posted by oldfriendoflive

My fiance insists its the best way, but I am nervous about doing that. He feels by July we will be paid off in full for 200 guests and then start the heavy saving. My sister is getting married 4 months after me and thinks we are crazy and thats why I want insurance.

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I think it's a great idea that you guys want to pay off for it completely, but you abs. positive that 200 guests will attend, nothing more nothing less?
If you're nervous about giving them the entire money, perhaps you can find out exactly how much it'll cost (service charge, tips, hidden fees) totaled up, and put that money in a separate account totally untouched? This way you have the money set aside, but at the same time you still have it in your possesion not having you to worry?

Re: I am thinking about investing in wedding insurance.

Please fm me when you get a quote. we were also looking to do what you guys are doing and was curious how much it would cost. Thanks!

Re: I am thinking about investing in wedding insurance.

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Posted by JulyBride728
perhaps you can find out exactly how much it'll cost (service charge, tips, hidden fees) totaled up, and put that money in a separate account totally untouched? This way you have the money set aside, but at the same time you still have it in your possesion not having you to worry?

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I completely agree with the above suggestion.

Your fiancee is mistaken in this situation. It makes no sense to pay off the full amount now. You could be earning interest on that money in the bank ... rather than incuring the extra added expense of paying for wedding insurance. I don't believe that the insurance covers as much as you would hope ....

Re: I am thinking about investing in wedding insurance.

I must admit that I'm also perplexed about why you would want to pay the entire catering hall bill in advance. It's going to be the biggest bill for your wedding--why not set money aside in a high-interest account, as one of the previous posters suggested? Why should the RH get all the interest from your full payment, and not you? It also leads to accounting follow-up later.

Wouldn't you need to do the 'heavy saving' for the catering hall? Am I missing something?

FTR, DH and I used WedSafe. We only got event and liability coverage. Our wedding was probably an average Long Island wedding in terms of price; we paid $540 for those two types of coverage in an amount of coverage that would have made up the majority of the cost of the wedding. We were willing to eat the rest if disaster happened. Fortunately, nothing did.

I suggest you read the limits of the policy on WedSafe. Not all events are covered, so if you cancel or reschedule the wedding, you may be out both the cost of the policy AND the cost of the wedding itself.

Also, check your renter's or homeowners insurance. It may already provide liability coverage in an amount you feel comfortable with.

Good luck!