Given that the average cost of a wedding in America has reached $27,000, it's no surprise that less than 1 percent of couples make room in the budget for wedding insurance. But if you and your beloved are sinking a fortune into your upcoming nuptials it may be worth considering taking out a policy.

Wedding insurance now covers a broad range of contingencies and can help you recoup your money should things go awry on or before your special day. You can buy policies that cover nonrefundable deposits if you have to cancel your wedding due a death in the family or a natural disaster like a flood, fire or hurricane; others reimburse you if your spouse is in the military and is unexpectedly deployed; and still others cover the expense of restaging wedding photos or replacing a lost or damaged wedding dress.

There's even a policy that covers cold feet, so parents no longer have to pay the price for a child's last minute change of heart.

The cost of wedding insurance ranges from a couple hundred dollars all the way up to $1,000, depending on where you buy your policy and what it covers. This may sound like another unnecessary expense, but it's just a drop in the bucket when you consider the overall price.

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