Odds are you or someone you know is getting married. June through September is the peak of the wedding season in the United States. Every year, 2.1 million couples tie the knot, which breaks down to nearly 6,000 weddings a day. But what happens if the groom gets food poisoning the night before the wedding or a fire burns down the reception hall? Believe it or not, there is insurance for that.

Wedding insurance typically runs from $155 to $550 dollars, depending on how elaborate your special plans might be. It covers the cost to reschedule the nuptials due to weather, injury, the wedding dress or tuxedos not showing up, the failure of a caterer, or if the location is unable to host  your event. You can also insure the wedding rings, presents and the photographs.

Is wedding insurance worth it? One provider researched claims filed between 2011 and 2015 and found:

  • Problems with vendors (venue went bankrupt, photographers failing to deliver and DJs not showing up) accounted for 30 percent of payments
  • Illness and injury resulted in 29 percent of the claims
  • Weather issues caused 16 percent of the cancelations
  • Military deployment was the cause for 10 percent

The good news is that once the rings are exchanged and the honeymoon is over, there are important insurance decisions to make, some that could save you money.

  1. Marriage Discount

Most auto and home insurance companies offer discounts for newlyweds. This applies to both men and women; however, men under the age of 25 see the biggest savings since they are usually considered high risk drivers. The lower rates can also apply to those in domestic partnerships.

  1. Combining Autos

If you both have separate cars with different insurance companies, now that you are married you can save money by putting both vehicles on the same policy. Most insurance companies give discounts for multiple vehicles. It will also ensure that both drivers are covered no matter which car they use. You can find more savings by bundling your auto with your homeowners or renters insurance.

  1. Increase Homeowner or Renters Coverage

You didn’t buy them, but all those wedding presents are valuable. You now have a new set of china, expensive new appliances and other things for your home. These assets need to be covered. Talk to an insurance advisor to make sure you have enough coverage to protect all the things you own and to increase your liability protection. If you rent, keep in mind that your landlord’s insurance does not cover your possessions and you need renters insurance to be certain you’ll be reimbursed if a fire or broken pipe in the unit above damages your furniture, appliances and electronics, not to mention all your clothes. Renters insurance will also pay for living expenses while the home or apartment you rent is repaired, and pays for any medical bills or lawsuits if someone gets injured at your place.

While you are at it, this is also a great time to create an inventory of all the things you own to help you purchase the right insurance protection and make filing a claim much easier.

  1. Get Extra Protection for High Value Items

That beautiful new wedding ring and special gifts like fine art, china or silverware may need scheduled personal property protection, often called a “floater,” to make sure they are covered for their full value. Most homeowners and renters policies will only provide limited coverage for those high value items. Scheduled personal property coverage will also pay to replace a ring, without a deductible, even if it was misplaced or damaged in the disposal.

California Casualty
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