Large "Non-Refundable" Deposit Jitters

[Rock_of_Love]

Okay guys, I just got the rental contracts for the Villas in Puerto Vallarta that I''m reserving as lodging for us, my family and my bridal party. They ask for a 50% non-refundable deposit to make the reservation official. Of course, I knew this, but now that it is becoming official, I''m so nervous to write the check and send it off!!

Can you guys relate?

I''m having all these jitters...what if something happens and we can''t go? Terrorist attack? Crazy swine flu outbreak? Some natural disaster? Drug wars? And, I lose ALL THAT MONEY!!!!

So, there is travel insurance, but I priced it out and the lowest quote was $650! Seems like a lot for "what if"!

My question to you ladies is...did you guys have these feelings when you made LARGE, NON-REFUNDABLE deposits? I also wonder how common it is for something to "happen" where you can''t go through with your original plan.

Thoughts??

 

[laughwithme]

I think this is totally normal and natural. Sure, any of those things you listed could happen - will they? Probably not. If your decision was well-thought-out, and you have an otherwise good gut feeling about it, send the deposit and don''t look back.

And yes, I''m sure every girl on this board can relate - even the non-high dollar commitments, such as selecting a DJ, can be scary. Totally normal!

 

[House Cat]

Get the travel insurance. You never know when something like swine flu is going to break out. $650 is nothing compared to what you will lose if your wedding is cancelled. Considering how stressful wedding planning can be, $650 is a small price to pay for a little bit of wedding peace of mind, IMHO.

 

[KatyWI]

Date: 8/1/2009 3:45:10 PM
Author: House Cat
Get the travel insurance. You never know when something like swine flu is going to break out. $650 is nothing compared to what you will lose if your wedding is cancelled. Considering how stressful wedding planning can be, $650 is a small price to pay for a little bit of wedding peace of mind, IMHO.

THIS.

 

[PilsnPinkysMom]

Yeah. Big deposits are scary, scary, scary things. I know the insurance sounds like a ton, but it may be worth it for the peace of mind. Have you looked at "Wedding Insurance," as well? We all know that the insurance industry is a huuuge money-making industry- UNTIL you find yourself in a bind and needing the coverage.

Depending on how much your DW is costing, the insurance juuust may be worth it. Is it likely some disaster will occur? No. But if it does? Well... You know

 

[House Cat]

Date: 8/1/2009 3:59:33 PM
Author: PilsnPinkysMom
Yeah. Big deposits are scary, scary, scary things. I know the insurance sounds like a ton, but it may be worth it for the peace of mind. Have you looked at ''Wedding Insurance,'' as well? We all know that the insurance industry is a huuuge money-making industry- UNTIL you find yourself in a bind and needing the coverage.

Depending on how much your DW is costing, the insurance juuust may be worth it. Is it likely some disaster will occur? No. But if it does? Well... You know

I didn''t know travel insurance and wedding insurance were two different things. Look into the wedding insurance, it might cover both travel and the actual wedding.

 

[Keepingthefaith21]

Oh heck yes! It is normal. I felt it when we put down some of our bigger deposits and I really felt it when we signed the mortgage papers for our house and put a check down with money that took years to save. In the end, I felt great once the inital feelings of worry subsided. Then, the true excitement began. I was really getting married! I really owned a house! The big decisions the the ones that have some of the best emotional returns IMHO. As for the insurance - think about getting it. It''s a small price to pay for peace of mind.

 

[Rock_of_Love]

Date: 8/1/2009 4:02:01 PM
Author: House Cat

Date: 8/1/2009 3:59:33 PM
Author: PilsnPinkysMom
Yeah. Big deposits are scary, scary, scary things. I know the insurance sounds like a ton, but it may be worth it for the peace of mind. Have you looked at ''Wedding Insurance,'' as well? We all know that the insurance industry is a huuuge money-making industry- UNTIL you find yourself in a bind and needing the coverage.

Depending on how much your DW is costing, the insurance juuust may be worth it. Is it likely some disaster will occur? No. But if it does? Well... You know

I didn''t know travel insurance and wedding insurance were two different things. Look into the wedding insurance, it might cover both travel and the actual wedding.

Hmmm...I will look into this, too. I thought the travel would cover the wedding stuff, but maybe not. I''ve never been a big fan of having too much insurance...it is like paying for something you may never need. I agree, if you need it, you will be happy you have it. But, if you don''t, I feel like it is just money down the drain.

Maybe I will consider it a little more seriously...ya never know...

 

[FrekeChild]

Ask Lanie (I think it was her) about wedding insurance.

 

[Rock_of_Love]

Hopefully she''ll chime in. I noticed Gypsy had a thread about it, too.

Well, in looking at it a little more, i think it just might be worth it. And, actually, I think travel insurance will cover both since all the arrangements are based on the "Covered Trip." I have an email into the company for clarification.

One thing I really like about it is that it covers you if you lose your job. And, in this economy, it is a real possibility. If I lost my job, I''m not so sure I would do as extravagant (for me) of a wedding.

 

[Rock_of_Love]

Oh man...just saw Lanie''s old posts. Vendor going bankrupt, Dad out $20K!! Can definitely see that happening in this economy!!

Yup, for sure going to get insurance. I''m hoping the travel insurance just covers it all so I won''t have to get two policies. Wait to see what they say tomorrow.

 

[Inanna]

I have wedding insurance through WedSafe. I chose $25,000 worth of wedding related coverage and I have liability coverage as well. It cost me about $350.

I also looked into travel insurance, but like you, I found it cost a bunch (about $700 was the lowest quote I received) and it didn''t cover everything. For example if my photog, caterer, or DJ didn''t show or went out of business, I''d be out of luck.

You might want to look into wedding insurance through WedSafe or Fireman''s Fund.

 

[cindygenit]

YES. My deposit is AUD2650 for my all inclusive venue.

Definitely feeling a bit scared.

 

[daught3rofEve]

The largest deposit I''ve put down so far for was on my cake.... I had that roller coaster drop feeling in my stomach. lol. It was the one thing about the wedding that HAD to be perfect (since it''s a 3d 1970s car, it wouldn''t do to have it look like a blob of fondant.)


I couldn''t imagine doing a wedding overseas without insurance, though.

Anything could happen, and if it''s another country, there''s even less chance of getting any kind of refund if iin the event, it was the venue that breached the contract in some way. There''d be vertually no way to prosecute.... unless you wanted to spend even more money.

 

[Rock_of_Love]

So, in case anyone is curious, I decided to get Travel Insurance. Destination weddings can be tricky to get insurance for - here''s why I went with Travel vs. Wedding Insurance:

- The only covered reasons for Wedding Insurance for event cancellation are withdrawl of military leave, sudden illness or injury, or severe weather. Travel Insurance has many more reasons that may cause a trip cancellation, including *loss of job* - which is key to me in this economy!

- The Trip Cancellation/Interruption Plan covers *any* prepaid, nonrefundable expenses that one stands to lose in case of cancellation of the trip. So, if my wedding is wrapped in my trip, it is covered. Consider it an activity that I''m pre-booking for my trip, like scuba diving or something, but MUCH MORE expensive!

- There was a question with the wedding insurance on whether or not this deposit I''m making on the villa accomodations would be covered, since everything on wedding insurance is tied to the "event date." It was a gray area since honeymoon arrangements *are* covered, but the lady didn''t know exactly.

- It doesn''t cover some things that wedding insurance does (vendor no-shows, etc.), but my main concern is the entire trip. If something happens and I can''t go on the trip, the destination wedding is off, too.

- It is more expensive than wedding insurance, but for the "more covered reasons" and the reimbursement of any prepaid, nonrefundable expenses, it''s worth it to me!!


Thanks guys! I probably wouldn''t have done this w/o your advice!!

 

[Dannielle]

Date: 8/1/2009 3:45:10 PM
Author: House Cat
Get the travel insurance. You never know when something like swine flu is going to break out. $650 is nothing compared to what you will lose if your wedding is cancelled. Considering how stressful wedding planning can be, $650 is a small price to pay for a little bit of wedding peace of mind, IMHO.

Agreed.

Peace of mind is priceless