How would you cope if a vendor you signed a contract with went out of business? Let’s face it, with the current economic crisis, companies are suffering right now. It’s not just the big financial companies, its small business too, and the wedding industry is no exception. No industry is recession proof. Sure people are still getting married, but with hard times comes cutbacks, and some wedding vendors are feeling the crunch.

What happens if that seemingly upscale boutique you purchased your gown from, the florist down the street, the limo company or the reception hall declares bankruptcy? The owners don’t have to refund any deposits you have made and you may have little recourse to recoup your funds. If you placed your deposits on a credit card, the credit card company may be able to help you get some funds back – but they also may not if the company is bankrupt or has shut down.

Wedding insurance covers so many things which can go wrong with your wedding. It can cover bad weather emergencies, sickness, accidents, postponement, postponement due to military service and cancellations. It can also cover liability for alcohol related accidents during your reception, bodily injury and property damage. And it can also cover loss of deposits from vendors who go out of business.

For around $200 dollars many wedding insurance plans can be purchased. Its a small price for a great peace of mind. Just check with the individual policy to see exactly what you are covered for before signing any contracts.