How to insure a wedding

Insurance for a wedding? Yes, you can do this. Statistics Canada says that the average spent on weddings is $25,800 and you can spend up to 16 months preparing for the wedding day.

You can buy insurance to help cover the costs for things, such as liquor liability insurance. As the host, you can be held liable if one of your guests drinks too much and then has an injury accident.

Problems with the photographer, the caterers, your wedding planner or the actual vendor providing the location for the reception, can also have insurance coverage. You could have a claim for a family member being unable to attend due to a death, sickness or a travel delay. There can be gift breakage or damaged photographs. The rings could be lost or the delivery of the dresses or tuxedos goes missing.

Even something such as a tornado, could result in a claim for the damage to the property at the wedding.

The risk of a tornado is likely not high. You can double check and triple check to be sure that the dresses, tuxedos and rings all arrive safely. The liquor liability (dramshop law) is the area that you cannot totally control. Do carefully consider protecting your financial assets with this type of insurance.

Your wedding gifts should be protected from theft - even if they are stored elsewhere. Most home insurance policies have an extension for property temporarily removed.

Talk to you agent or broker about wedding insurance if this is something you think might be worthwhile.