Planning and paying for your big day is exciting and stressful at the same time. With the future being so unknown, as we saw with Covid, you may have a nagging fear of something going wrong. Purchasing wedding cancellation insurance can give you peace of mind and take the financial sting out of losing your deposits, especially if you need them for an emergency. Regardless of how much money you plan on spending, wedding cancellation insurance helps to protect that investment. Wedding cancellation can reimburse you for prepaid, non-refundable deposits you’d otherwise lose if your wedding has to be canceled.
According to The Knot’s 2021 Real Weddings Study, the average couple spends $28,000 on their wedding. They also reported that the average couple hired 14 vendors, and 49% said they spent more on their weddings than initially budgeted.
Such as purchasing plane tickets, renting a car or home, health, and auto insurance; wedding cancelation works the same. If you are canceling your wedding, having this insurance ensures you receive your deposits back. WEDDING CANCELATION INSURANCE PROTECTS YOU!
Why do wedding venues have a non-refundable policy? This industry is shaped more by emotional decisions. Since plans change, couples separate, etc. venues (especially smaller venues) need to find a way to safeguard themselves from unpredictable circumstances and human behavior to keep their doors open. No one wants to receive a call that their venue is closed and can no longer host the wedding.
When you put your deposit down to save the date and make monthly payments, you are not just reserving your spot. The venue is working behind the scenes so everything just works on the day of.
Here are some of the things that go into play that you are paying for with your deposits;
Overhead costs such as rent/mortgages to stay open, utility bills like keeping the lights on, bathrooms working, and marketing to gain more business to keep their doors open
Payroll for (depending on your venue being all-inclusive or not);
The tour guide that showed you the venue
The wedding planner and planning sessions
The wedding coordinator to run your day
Office staff to reply to your emails and calls
The Chef and baker for your catering and cake/desserts
Gardeners to ensure your ceremony site, cocktail hour spot, and reception are free from debris, clean, and mowed
Routine maintenance to ensure mechanical things are in working order such as restrooms, kitchen, etc.
Janitorial staff to ensure the venue itself, bathrooms, planning rooms, kitchen, etc. are clean and sanitized
Staffing for your big day such as bussers, servers, bartenders, dishwashers
Staff to set up, take down and clean up
Depending on your venue, there could be more such as florists, musicians, etc.
There are so many different circumstances that may arise and prevent you from going through with your wedding. If you choose to cancel, as you can see from the list above, work has begun, so consider payment for work already done when you cancel. That is why your deposits are non-refundable.
Please do your own research, but here are some companies to start your search with;
Wedsure (even covers change of heart)
Wedsafe (in some states)
Event Helper (best for price)
Nationwide (available for purchase up to 15 days before the wedding)