3 Wedding Contingency Plans Worth Investing In

According to Forbes’ report on the 2022 wedding boom, there will be more weddings in the US this year than any other year since 1984. Following the record number of cancellations, postponements, elopements, and virtual nuptials over the past two years, it’s no surprise that 2.6 million weddings are estimated to take place in 2022. While small, intimate weddings remain the trend, experts are seeing large, traditional weddings climb back up to pre-pandemic levels. Unfortunately, there’s always a chance that things may not work out as planned for your wedding. This is why wedding planners are adamant that a solid plan A should be backed up by a plan B, and maybe even a plan C. Here are three wedding contingency plans that you should consider for your big day:

An inclement weather plan with your venue

While you may adore the picturesque scenery of your outdoor venue, you should definitely have a wedding contingency plan for the weather. Rain, high winds, heat waves, and extreme changes in humidity can get in the way of your guests’ comfort. Do talk to your venue early on with regards to their policies on bad weather. As we mentioned in our post called ‘Rain On Your Wedding Day?’, it’s important to read the contract and make sure you’re completely happy with your venue’s inclement weather plan. Or, you can opt to choose a venue that works for any weather. The Tate House Pavilion in North Georgia works well for both sunny and rainy days. With its massive glass windows and white walls, it’s the perfect space to bring your outdoor ceremony vision to life, even if you have to wed indoors.

An emergency fund

Weddings will always cost a bit more than you think they will, no matter how comprehensive your budget is. There could be unexpected or overlooked expenses that add up, such as postage, taxes, gratuities, and extra hours with your photographer. Supply chain issues and wedding vendor shortages may also further shift the cost of weddings, so it’s good to allot 5% to 10% of your budget for wedding emergencies. With ample time to prepare for your wedding, you may even consider looking into investment types. Maryville University’s write-up on investments notes that putting money in a diverse mix of asset classes like stocks, bonds, or cryptocurrency can spread the risk. Investments can help you build up a nest egg for wedding expenses and married life after. It’s much better to use your dividends for emergencies, rather than take out a hefty loan or accumulate interest on credit cards.

Wedding insurance

Our final wedding contingency plan is wedding insurance. Wedding insurance (or event insurance) covers people from financial loss, which could result from setbacks like severe weather, property damage, and vendor problems. The New York Times’ article on wedding insurance notes there are two types of wedding insurance. Liability insurance covers property damage to a wedding site and bodily injuries to attendees. On the other hand, cancellation insurance protects you in case your vendors back out, or you’re forced to cancel or postpone the wedding. While the cost of a wedding insurance plan varies, it’s generally a one-time payment of around $100 to $300. Like any other insurance policy, buying a plan requires a cost-risk analysis — but a few hundred dollars can save you thousands more down the line.

Submitted by Ophelia Finley for tatehouse.com