No one wants to think about anything going wrong on his or her wedding day, but disasters can happen. From vendors canceling at the last minute to airlines losing your luggage, arming yourself with wedding insurance can help protect you from the unexpected. For one of the most important days of your life, it is definitely worth considering. Here’s what experts say you should know:

What is wedding insurance? An insurance policy that covers your wedding and financially protects you against misfortune and mishap.

Why you may need it? The decision is a personal and financial one.  Even though it is an additional cost to your wedding budget, with the rising costs of your wedding, it may be worth considering.  Policies can be geared to meet your budget and wedding, i.e. if you’re having a destination wedding you may wish to cover your luggage getting lost.

How much does it cost? This varies, depending on your budget.  A basic insurance policy can cost anywhere between $155 and $550, depending on the amount of coverage you want. General liability insurance, which covers up to $1,000,000 for accidents, costs approximately $185.

Do you really need it? Avoid duplication. Check with your vendors to see if they’ve got a policy in place. Every insurance policy and every wedding scenario is different so be sure to talk to your insurance agent.

When to get it? As soon as you can, especially before you begin making deposits and signing contracts.

Check out the list below to see what’s covered & what isn’t.

WHAT IT CAN COVER:

Weather If your celebration has to be postponed because of rain or other bad weather, your policy should cover the cost of rescheduling.

Illness or Injury If essential people get sick or injured and cause the wedding to be postponed, the expenses involved with that postponement are covered.

Missing Officiant If your minister, justice of the peace, rabbi or other celebrant should be a no-show, you’ll recoup some of your costs.

Missing Vendors And if your caterer, florist, photographer, or other key vendor is missing in action, you’ll recover some costs and possibly the costs of rescheduling the whole thing.

Your Location If your ceremony and reception sites don’t already carry their own insurance, your wedding insurance policy can cover damage to the site, fire, electrical or mechanical problems, or going out of business that causes you to lose money or have to reschedule.

ADDITIONAL COVERAGE CAN COVER:

Military Service Should the bride or groom be in the military or active reserves, you’ll want to be insured in case they are called to duty suddenly and everything has to be postponed.

Your Gowns and Tuxedos including stores going out of business or damage.

Gifts If your homeowners or renters insurance doesn’t cover them, you may want to protect against theft or damage of gifts.

Liability Most sites carry liability insurance, but if you’re having your wedding at home, you’ll want to be protected in case a guest gets hurt or hurts someone else.

Honeymoon Protect yourself against having to cancel your trip due to illness, bad weather or other unfortunate circumstances.

WHAT ISN’T COVERED:

Canceling due to cold feet.

Canceling because of something you already knew when you took out the policy.

For information have a look at these wedding insurance companies:

Canada: WedEnsure

USA: WedSafe

How do you feel about wedding insurance?  Do you have it?  If not, why?  Ever experience any wedding mishaps that you had you wishing you had it?