It’s a no-brainer to say that a wedding is a major investment. In the United States, the average cost of a wedding is in the tens of thousands. Weddings are the culmination of years of love, trust and lots of savings, with families laying their hearts and bank accounts on the line. Given the expense and extravagance of many weddings and the dozens of factors that put a wedding at risk –tropical storms, illnesses, deaths, caterers and dress shops that go bankrupt and cold feet (to name a few), it should come as no surprise that more and more families are purchasing wedding insurance.

Wedding insurance is a type of insurance that covers the numerous potential disasters surrounding a wedding (depending on which plan you buy), and puts those who lay out massive sums of money for the celebration at a reduced financial risk.

It might surprise you that the number one most common wedding insurance claim occurs when a bridal shop suddenly goes bankrupt and the bride is out a wedding dress. Since the wedding dress is such an integral and fragile part of a wedding, it is often a key point of concern for those who buy wedding insurance.

People who travel for their weddings might be considering travel insurance and wondering if a wedding dress is covered. The answer to that question depends on the parameters of a traveler’s insurance policy. Traveler’s insurance is different from wedding insurance, and a traveler’s insurance policy will likely cover your possessions as you travel –i.e., the dress. However, that is not guaranteed. If you choose to purchase traveler’s insurance for your wedding, go over the policy with the salesperson and be sure the dress is covered.

Many wedding insurance plans extend their coverage throughout the United States and offer additional travel insurance. If you are planning a destination wedding, then I recommend purchasing a wedding insurance policy that contains provisions for travel.

These kinds of insurance policies typically cost no more that 1,000 dollars. For a wedding that’s around or above the average cost of 27,000 dollars, that’s a huge bargain. In addition to covering a damaged or misplaced dress, most wedding insurance policies will cover broken or lost wedding gifts, damaged wedding photographs or videos, deadbeat caterers, or in some instances a change of heart in the bride or groom.

All in all, I would say travel and/or wedding insurance is a fairly good investment. I’d hate to see someone I love have their wedding marred or ruined by unfortunate circumstances. And I’d hate it even more if I was footing the bill for a wedding that went awry and had to be re-scheduled. In recent times we’ve seen incredible disasters like the 9/11 terrorist attacks, hurricane Katrina and the massive tsunami. All of these horrific events took place in locations where one might want to hold a destination wedding, which should be a stark reminder of why it is so critical to cover your bases and get traveler’s and wedding insurance.

A few companies that offer wedding insurance are Fireman's Fund, WedSafe Wedding Insurance Program offered through Affinity Insurance Services Inc., and Traveler's Insurance.