groom and bride kissing inside wedding marquee

Should Your Spend On Insurance For Your Wedding?

Wedding insurance may seem like an added expenses, but you should consider this as a safety net during emergencies and other unexpected events.

Those who plan to purchase one should expect to spend $275 on average for a $30,000 wedding budget. You can choose between two types of insurance coverage. The first one comprises a policy for a canceled or postponed wedding, while the other insures against financial liability for accidents and injuries involving wedding guests. The first type may be more common especially for people who plan to spend significantly on their special day.

What Wedding Insurance Covers

Being insured doesn’t necessarily mean that you expect the wedding to be called off. In some instances, you should purchase a policy for precious items such as an engagement set. In Utah, the average premium of $275 provides up to $2,500 coverage for jewelry. Those who are more concerned on cancelling their booking for venue should probably look for an event planning company that offers refunds.

Some service providers can return your money when your wedding doesn’t happen, although this should be clear on your contract. Otherwise, having insurance will work in your favor. It’s also important to consider the timing of your engagement.

Most Popular Time For Engagements

Insurance premiums could increase when more couples become engaged, and this usually happens during certain holidays. Based on a survey of 18,000 respondents, Valentine’s Day and Thanksgiving are two of the most popular times for a wedding proposal. Almost 40% of all engagements happen on these two occasions.

On the other hand, December ranks as the most popular month for being engaged probably because of the festive spirit. However, it’s no secret that some couples call off their engagement after the holidays for various reason. In this case, a wedding insurance will be useful to recover your expenses particularly for the engagement ring.

wedding rings on display

How Much Do Americans Spend On Rings?

An analysis showed that spending on engagement rings cost between $2,793 and $9,809 on average per state., Couples in California splurge more on their rings more than their counterparts in other states, while those in Mississippi pay the lowest amount.

Some states landed on the mid-range spending. For instance, an engagement set in Utah may cost an average of $5,456. Men should take note that most women still find it sweet to be engaged on Feb. 14, so it won’t hurt to plan a proposal on that day to increase the romance factor. Christmas Eve is also a popular date, while New Year’s Eve could be symbolic of wanting to start a new chapter together. When it comes to the season, most couples schedule their wedding during autumn.


Talk to your partner if you really need insurance for your wedding. Both of you should be mutually in favor of it, since the concept can strike a negative impressions from your families and close friends. In case you want to feel secure, think about insuring precious items especially ones that are considered to be heirlooms.