Wedding insurance is a fairly new development but one worth investigating. The more you're spending on your wedding, the more you stand to lose if a tornado wipes out your wedding site, the caterer goes bankrupt two weeks before the wedding, or the groom gets a sudden case of appendicitis.
Insurance fees are based on the cost of the wedding; event cancellation insurance on a $50,000 wedding runs about $400. Liability policies, which protect you from host-liquor or guest-injury liability, cost less.
Ask detailed questions about what is covered, what the upper limits are for reimbursements, what the deductibles are, and when you have to purchase the policy. For liability policies, find out what your homeowners' insurance policy covers and whether that's sufficient; some reception sites require you to carry a minimum amount of liability insurance.
Generally, you want to buy insurance when you start placing deposits, but you can usually purchase it as late as 15 days before the wedding. Understand that insurance is sold for unforeseen problems, so once a problem has been identified (if, say, the hotel was operating under bankruptcy protection when you booked it), the policy won't cover it.
Some of our favorite wedding insurance providers are: www.WedSafe.com, and