Wedding Investment Risks - COVID-19 Impact 2020 Post 2

Is Your Wedding Investment Safe?

There is no doubt about it!  We live in a vastly different world today thanks to the pandemic.  Never in our wildest dreams, did we ever conceive a day that all schools and businesses would be shut down for weeks or months.  Nor did we ever envision the requirement of wearing masks everywhere we went.

As a wedding photography business, we too found ourselves in a unusual position:  Couples forced to cancel or reschedule weddings for an uncertain time in the future.

Many couples were surprised to learn their preferred vendors were charging "change fees", or refusing to return deposits.  Worst yet, many are no longer in business!

As a professional with many contacts in the wedding industry, I am personally witnessing several businesses struggling to stay afloat, or worst yet, not able to stay in business at all thanks to COVID-19.  

So, the question begs, "Are you protected if this happens to one of your favored vendors?"

There is peace of mind available, and I am surprised how many couples are not even aware that protections are available.  It is called "Event Insurance."  For many years, we have recommended to our couples to consider purchasing insurance.  When they are spending upwards of $28,000 for their wedding, (average total costs of weddings in the San Antonio market), why not spend $150 to protect that investment.

A wedding insurance provider we have recommended for years is WEDSURE.  I am sure there are many others.  You can tailor the policy for the coverage you feel you need.  But be sure it includes "Loss of Deposits Coverage.)

Think about it!  There a lot of things that can go awry before, during, and after your wedding.  Consider what you are willing to lose if your venue suddenly closes; guests acquire food poisoning; your photographer never shows up; or perhaps one of you are in a serious accident a few days before the wedding.  What if a tropical storm or hurricane forces postponement?

A small investment to protect your big investment is certainly worth giving some thought.  What do you think?