Weddings are a happy occasion, but they do not always go as planned. Just ask the thousands of couples in Pennsylvania and Maryland who had to cancel or postpone their weddings last year when the arenas were suddenly closed due to the pandemic. The good news is that there is a way to protect yourself (and your budget) when the unexpected happens, and that is with insurance products offered specifically for married couples.
Adam Grove, Personal Insurance Senior Protection Analyst, and his wife Amanda, who had a small "COVID" wedding last year, and a major ceremony in May on a private farm in South York County between Glen Rock, PA and Shrewsbury , PA.
Wedding insurance protects your investments and can cover everything from wedding rings to decorations. It also reimburses you for costs incurred, for example that your place should go to business or a guest who has an alcohol-related accident.
Here is an overview of a wedding insurance to keep in mind if you are planning a wedding.
Engagement and wedding rings are a lasting symbol of love and commitment, but what happens if yours gets lost or stolen? Although jewelry is usually covered by tenants and homeowners insurance policies, there are some limitations. There is no coverage if the loss is due to mysterious disappearance (ie you lose or lose the ring). If theft occurs, coverage is usually limited to $ 1,500. With all of these restrictions, the chance of relying on unapproved landlord or tenant policies is not enough for your ring. The good news is that you can schedule your ring or support a special cover for it. The insurance rate for engagement and wedding rings varies depending on where you live, but you can usually expect to pay one to two percent of the value of each ring. For example, the insurance coverage for a $ 5,000 ring would cost $ 50 to $ 100 per year to insure.
Karissa Kleczka, Personal Insurance Assistant Protection Analyst, and her husband Josh at their wedding in Samuel S Lewis State Park in York, PA. She had an intimate reception at the Mexitaly restaurant in York, PA.
We want your wedding day to be everything you dreamed of, but like all events, there are debts and risks to think about. Wedding insurance – also known as special event insurance – helps you protect your investment on your special day.
Was the wedding dress ripped during the first dance? There is insurance for that. Worried that you have to postpone the wedding because of the weather? There is insurance for that. Depending on your needs, you can actually insure your wedding dress, tuxedo, gifts, photographs and other items against damage and theft.
There are many insurance options to consider, including lost deposits, event photographs / videos, hosting Liquor Liability, Venue or additional insurance liability. Cancellation or deferral insurance protects you from such things as a member of the wedding party getting sick or injured or receiving orders for military deployment.
Sarah Brown, President of Keller-Brown, and her husband Jim married on her parents' farm. outside Glen Rock, PA, and the reception was at a York County golf course.
When to buy wedding insurance
Wedding insurance can be purchased as early as two years before the planned wedding date. A good rule of thumb is to buy coverage as soon as you start making purchases and making deposits for the big day.
Sue McCoy, Commercial Insurance Protection Analyst, and husband Jeff at their wedding 45 years ago at Trinity United Church – a Keller-Brown client – in Glen Rock, PA.
Additional insurance coverage when you get married
Marriage is a big life change, and insurance is part of that change. Here are four different insurances that you should consider as part of your marriage.
Car insurance – If your car insurance policies were separate when you were single, they should be combined when you are married. Keeping them separate can cause some major problems at the time of claim. Contact us to add your new spouse to your car policy. Since you are likely to add a new driver, vehicle, and insurance name, this may be a good time for us to look for other options for both price and coverage.
Home / Tenant Insurance – When two households come together, you may need to increase your property coverage, especially if one of you has an expensive hobby. Be sure to contact us to add your spouse as Name Insured to your homeowner or tenant policy so that they have all the rights and protections that you do.
Disability insurance – When you combine housing, you also combine income, but what happens if one of you becomes disabled? It can create financial difficulties for the spouse. Disability insurance reimburses a percentage of income if an illness or injury means that one of you is unable to work, either temporarily or permanently.
Life Insurance – If the unthinkable happens, life insurance is crucial to protect your family from financial disaster. Benefits can be used to pay the mortgage, pay medical bills and contribute to living expenses, including childcare. It can even be used to pay for personal loans like car or student loans. A popular way to determine how much life insurance is needed is to buy a death benefit equivalent to ten times the person's annual salary. Children's education costs should also be considered.
Two types of life insurance are available: Whole and term. Entire life insurance covers the entire life of the insurer – until death or the insurance is canceled. Lifetime insurance applies for a certain period of time, usually ten, 20 or 30 years.
An important note for the elderly: Life insurance becomes more expensive as you get older, but that does not mean you are not qualified if you are of a certain age. Regardless of your age or your financial needs, our agents will work with you to determine the right amount and type of life insurance for your specific situation.
Read more about certain insurances that can protect your family for many years to come.
Caitlin Thompson, Personal Insurance Protection Analyst, and husband Chaz married in Glen Rock, PA.
Save on insurance coverage
Getting married can have a positive effect on your insurance premiums as you will be able to collect certain insurances such as your car insurance. Click here to get started with a free quote.
We are here to help you!
Wedding insurance can provide peace of mind and protect your wallet from the unexpected. For a free quote on wedding insurance and all your insurance needs before and after weddings, contact an insurance specialist at Keller-Brown Insurance Services today.
Strategic Keller-Brown business partner Drew Gress, financial advisor at S2 Financial, and his bride Aline married in Annapolis, Maryland.