If insuring a wedding seems like a strange idea, that's because most people don't associate the once-in-a-lifetime trip down the aisle with liability, pain, and suffering. Still, the risks are there.

To begin with, the average formal wedding today costs $26,237 according to Money Magazine, and 20 percent or more of that is often paid in nonrefundable deposits. So, like any big investment, a wedding can be protected.

At one time, only one company wrote a package of insurance specifically for weddings: Fireman's Fund offers Private Event Coverage. But today there are policies such as the WedSafe wedding insurance policy, available through Robertson Taylor (North America) Inc. The coverage protects you against such problems as cancellation, postponement, lost wedding rings and attire, and damaged photos or rented property.

The basic coverage in these policies provides for the reimbursement of nonrefundable deposits for the reception hall rental, food, flowers, and wedding attire, and kicks in if the wedding is postponed or canceled through no fault of the bridal party. Policies do not, however, cover "a change of heart."

Wedding insurance covers vendor no-shows, last-minute problems with your site, unexpected weather and sickness or injury to key people in the wedding. Key people are generally defined as anyone in the wedding party or close family members that will play a significant role in the wedding. Wedding insurance also covers military deployment that was not expected at the time of the wedding booking.

WedSafes policy won't cover any medical condition that affects the big day if it affected the bride or groom prior to that day. The policy also must be purchased two weeks or longer before the wedding day.

To address the needs of weddings large and small, WedSafe policies are available in four coverage levels: Silver, $155; Gold, $225; Platinum, $305; and Diamond, $385. You can also purchase optional general liability coverage of $1 million for an additional premium.

Depending upon the policy, the following is a list of possible coverage:

• Cancellation due to illness or death of the bride, groom, or any other person essential to the wedding.
• Cancellation due to weather conditions or other circumstances beyond their control that prevent the bride, groom, any other person essential to the wedding, or the majority of the guests from attending.
• Loss or damage of photographs. Some policies will pay to re-stage the wedding for pictures.
• Cancellation due to job loss.
• Loss or damage of the bridal gown.
• Accidents or failures on the part of suppliers before or on the wedding day.
• Loss of gifts.

If you believe you may be at increased risk of wedding day interruptions due to weather, illness, death, or a call to military service, it may be a good idea to consider getting a price quote on this type of insurance.

Coverage above and beyond basic wedding insurance is optional. But, next to reimbursement for deposits, insurance against liability is one of the most common incentives for taking out a policy. This would cover you, for example, for lawsuits resulting from a guest falling off a balcony. If you're renting a reception hall, the hall's own insurance probably covers these accidents. If you're throwing a wedding at home, check your own homeowners policy before you spend for redundant coverage.

However, it is not unusual today for a reception site, especially a novelty site, to require the party givers to carry $1 million in liability insurance. Restaurants and hotels have their own insurance, but more unconventional settings, such as wineries, historic mansions, and museums, do require this kind of insurance.

Covering the wedding dress is particularly important, says Robert Nuccio, president of R.V. Nuccio & Associates, who sells the Fireman's Fund policies. "The store may be obligated to reimburse you if something happens to the dress, but you could have trouble collecting," he says, especially in the case of bankruptcy.

Weddingsurance, as well as other special-events insurance underwritten by Fireman's Fund, such as "Barmitzvahsurance" and "Celebrationsurance," is available in 47 states, Puerto Rico, and Washington, D.C.

Weddingsurance coverage starts at $125 for $3,000 worth of coverage for nonrefundable deposits — but you can't take out a policy for less than $195. The additional $70 goes toward "optional coverage," such as lost or stolen wedding gifts. Coverage can be purchased up to two years prior to the wedding day.

Also included is up to 25 percent of the limit of your coverage to be used for starting over — for example, to rent another hall if the original site burns down in order to avoid canceling the wedding. Under basic coverage, that means the policyholder could collect another $750.

Liability insurance starts at $50 for $500,000 worth of coverage. Check your home insurance policy or with your agent to see how much coverage you have under your current home policy, and whether your current insurance policy extends to venues you rent.

A WedSafe minimum policy costs $155 and provides $7,500 in cancellation/postponement coverage. As many wedding and reception venues are now requiring the couple renting the space to carry liability insurance, WedSafe also offers a separate liability policy providing up to $1 million in coverage and up to $250,000 in property damage coverage, for $150.

Damage to wedding gifts appears to be a gray area. Robert Hunter, director of insurance for the Consumer Federation of America, says that wedding gifts, even when they are away from the insured premises, should be covered by a homeowners policy. While policies differ, gifts may not be covered while in transit, such as to and from the reception site.

Hunter says that, in general, the Consumer Federation is against nonstandard types of insurance like wedding insurance, which people don't need if they have other, basic types of coverage, like homeowners and health insurance. You can also increase your own personal liability protection cost-effectively by buying an umbrella policy on top of your auto and home insurance.

Common Policy Misinterpretations

Couples purchasing wedding insurance coverage often misinterpret key language within the policy. One common misunderstanding is what “weather” refers to. Many brides would assume that their garden wedding would be covered in the case where heavy rain ruins the bride’s picture-perfect wedding day by moving the ceremony and reception inside. Not the case.

While the bride may see this unexpected rain as a disaster, her policy will see the wedding as still occurring mainly as planned. To be covered, weather must be extreme enough to prevent the bride and groom and/or a majority of their guests from attending the wedding at all (a hurricane on the island of a destination wedding closes all lodging and forms of transportation, a snow storm shuts down transportation to and/or from the wedding venue, etc).

"Illness" is another one that can be wrongly misinterpreted. According to most policies, illness must be truly unexpected and without any expectations to be covered — in other words it cannot be related to a pre-existing medical condition.

And the third most common misinterpretation of coverage is with regard to military deployment. Again, this must be totally unexpected at the time of purchasing your policy. Reservists or those on part-time status may not be covered.

Finally, keep in mind that with any insurance, you will have a deductible to be covered before you are reimbursed for your losses. While the deductible is small, maybe around $25, consider this as a possible addition to the cost of insurance since you will be responsible for it if something does happen.