Saturday, May 24, 2014

In our last report, I introduced Insurance Center Associates of San Pedro and Torrance, California and the company's Insurance Info Center (inscenter.com/insurance-information) which provided good advice for soon to be hitched or cohabiting couples.

In this segment we'll look at which of the following items couples are most likely to need before their wedding - and least likely to put on their registry. We're talking about wedding insurance.

This may not top the list of pre-wedding priorities, but financial protection for your special day, new jewelry, gifts, and other belongings is a good idea.

Wedding day celebrations can range from a social-page gala to an intimate party for two. But whatever style of wedding you choose, chances are you will be spending time and money on the event.

Wedding Insurance and Special event policies can be purchased to cover all kinds of problems beyond your control.  Wedding insurance covers your personal liability and can name the property owner as additional insured (often a requirement).

It will also help should the event location go out of business, be damaged, and unusable. Wedding insurance coverage varies by policy and can include:

• Wedding attire (Wedding Dress, Tuxes, etc)
• Gifts lost or damaged
• Cancellation or postponement due to weather, extreme illness, etc.
• Host Liquor Liability
• Jewelry
• Alternate wedding location if yours is unusable
• Reimbursment for bankruptcy of a key vendor (caterer, florist event etc.)

Wedding or event insurance can’t make your photographer show up if his flight is stuck in Cleveland, but it can help pay the cost to get another photographer or to re-stage your wedding photographs at a later date according to Insurance Center Associates.

And these policies can be quite cost-effective when compared to the total special event bill, and can be included in your gift registry.

Once you've tied the knot, homeowners and renters insurance can protect you and your personal property in two very important ways:

• Liability covers you for legal defense costs if you are sued by people who are injured by you or your property, family members or pets
• Contents covers your personal property against losses from a wide variety of potential perils
• A special benefit of homeowners or renters coverage is that your belongings will be protected anywhere in the world: at home, in the wedding hall, or with you on your honeymoon.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com