Should I Purchase Liability Insurance For My Event
Yes! Although liability coverage is optional on most wedding and special event insurance policies, it is important to secure liability coverage in case you are legally responsible for property damage to the venue, or for an injury to someone at the event. Typically, the liability portion of your policy remains in force until 2 a.m. the morning following your insured event date. Any accidents, damages or losses occurring after this time will not be covered.
Additionally, liquor liability is another optional coverage that you can add to your wedding or special event insurance policy. Liquor liability would protect against on-premise alcohol-related accidents that result in a liability loss.
At the end of the day, not only is it smart to get wedding or special event insurance, but it very well may be required by your venue. Coverage can be purchased as early as two years prior to or as late as 24 hours before your planned event, so it is never too early or too late to protect your special day.
At Hanson & Ryan, we want to make sure your investment is covered properly. If you have any questions regarding wedding or special event coverage or would like us to provide you with a quote, contact us today!
What Are The Typical Wedding Insurance Exclusions
If you look over a sample wedding insurance cancellation policy, you’ll find that a nearly endless number of exclusions can apply. Just like pandemics and other pre-existing situations that may cause you to cancel are excluded, other standard exclusions include lack of funds, the prohibition of the event by a local ordinance, voluntary postponement without a covered reason, weather conditions that aren’t severe or out of the ordinary, and more.
With liability coverage, on the other hand, typical exclusions include non-wedding events, damage from nuclear energy or materials, intended injuries, damage caused by pollution, damage caused by aircraft, watercraft, or automobiles, and bodily injury caused by war.
At the end of the day, policy inclusions and exclusions can vary dramatically from policy to policy, and the devil is in the details. You should read over any policy you’re considering so you know for sure what is and isn’t included, as well as any special circumstances that might invalidate your coverage. Also note that many wedding insurance companies let you add on additional coverage for perils and items that aren’t included in their traditional policies, which may provide you with an alternative path to get the comprehensive wedding insurance coverage you want.
Wedding Insurance: Whats Covered Who Sells It And Prices
If youve planned for your perfect wedding, glitches can be especially stressful. Calamities can be heart-stopping.
Wedding insurance may help you breathe a little easier. A policy can pay for any damage or injuries that occur during the big event, or reimburse you if its postponed or canceled. Purchasing a policy can be quick. Heres what to know about wedding insurance.
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Why Should I Get Wedding Insurance
While it’s easy to think wedding insurance is only for such situations as severe weather or a freak accident or illness, there are plenty of important reasons to purchase this coverage. First off, many venues require liability coverage to be purchased to protect against injury and damage that might take place during an event. If you don’t buy liability wedding insurance, you may have a limited number of venues from which to choose.
With the median wedding budget coming in at $20,000, it’s also just plain smart to hope for the best but plan for the worst. Wedding liability coverage can save the day if someone is injured during your event, and they knock on your door for help covering their medical bills.
If you plan to serve alcohol at your event, you’ll want to make sure you purchase a policy with liquor liability, which protects you against damages caused by liquor-related accidents or injury. On the other hand, cancellation coverage can protect you against an array of situations you could never plan forsevere and sudden weather, vendor bankruptcies, a water leak that ruins your wedding gown overnight, and more.
Best Wedding Insurance Customer Service: Eventhelper
Apply for a free quote online
Solid customer service reputation
Tailor your policy to your needs
Inexpensive plans are for basic weddings, and prices go up from there
May not offer enough coverage for very expensive weddings
This company lets you buy wedding and event liability insurance, wedding cancellation insurance, and other specialized coverage for damage or theft.
Insuring your wedding can cost as little as $66 for minimal coverage, and you can personalize your coverage inclusions to ensure your policy meets your needs. However, you should note that the price of your policy will climb based on the value of the wedding you want to insure and any add-ons you want your policy to cover. You can also get a quote for EventHelper by filling out an online form.
As a side note, you should be aware that you can purchase insurance directly through EventHelper, which is backed by Evanston Insurance and Lloyd’s of London. Either way, coverage limits for your policy will vary, as will the total cost, depending on the types of coverage you choose to purchase. However, EventHelper does not offer more than $4 million in aggregate coverage.
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Insurance For Bc Special Events Birthdays And Weddings
Are you organizing a special event soon? Perhaps youre getting married next month or planning a big 50th-anniversary party for your grandparents. Regardless of the occasion, special event insurance is useful for anyone hosting an event, whether its for business or pleasure.
From a business perspective, examples of events that require such an insurance policy include hosting or being a vendor at conferences, trade shows, festivals, sporting events and other gatherings of larger groups at a central location for business purposes. On the leisure side, celebrations such as a wedding, reception, anniversary, baby shower or other private special occasions subject people to a number of liabilities that should be mitigated by means of obtaining a solid Special Event Insurance Policy.
COVID-19 Update: Our online Special Events policies do not offer coverage should your event be cancelled as a result of a COVID-19 outbreak, or as a precaution due to COVID-19. Please contact a local insurance broker for more information.
What is included in a Special Event Insurance Policy?
General liability insurance
This element of a Special Event Insurance Policy provides protection for situations in which a host of an event or a concessionaire must defend themselves against a law-suit or against having to pay damages for bodily injury or property damage to third parties. At events where alcohol is served, the policy should also include a Host Liquor Liability component.
What Exactly Can It Cover
Every common wedding mishap can be covered with a combination of wedding insurance policies. While different mishaps may require different plans and policies, there is very little that cannot be covered. From basic things like the venue to smaller details like the flowers, everything can be insured.
Heres a list of the most popular types of coverage:
- Cancellation or postponement of the event
- Vendor no-show
- Liability insurance
- Liquor liability insurance
Imagine spending thousands of dollars on your wedding deposit at a prime location, only to lose it all because of a sudden COVID-19 lockdown. According to a large survey taken by Greenville Business Magazine, 63% of the 900 engaged couples surveyed in 2020 were forced to postpone their wedding at the last minute for this very reason.
The average price of a wedding venue costs between $3,000 and $10,000, and high-end locations can reach six-figures. With this in mind, during these unprecedented times, a little insurance can go a long way.
Wedding attire is also very expensive and accessories are all quite delicate and easy to lose. Everything from the dress, the tux, the garter, the veil, the engagement ring, and the wedding band can and should be insured. All sorts of accidents are possible before, during and after the wedding day. Buying insurance for the pieces that matter to you most makes it easier to preserve these things for generations to come.
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The Right Policy Can Help You Recoup Your Costs If Something Goes Wrong
With the average wedding budget hovering around $20,000 these days, your ceremony and reception will likely be the most expensive event you and your partner will ever plan. Because so much money is on the line, buying wedding insurance could be a smart idea. But before you buy a policy, it’s important to know what it will and won’t cover.
Do I Need Wedding Insurance
A lot of time, effort, and planning go into a wedding day, and a wedding insurance company is familiar with all kinds of things that can go wrong. By having a policy, you’re protecting yourself, your spouse, and your family from significant potential losses. The cost of wedding insurance is minimal, compared to the wedding cost and what is at risk. At the very least, it’s worth discussing with your partner and anyone who is financially invested in the wedding.
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When Should I Buy Wedding Insurance
You should buy your wedding insurance straight away as the sooner you have it, the sooner youre covered, plus it doesnt cost a penny more to book early. You can purchase cover up to two years in advance and this would cover a venue closure or family illness months or even a year ahead of the day, so its definitely worth having.
Image: Bluebirds Bakehouse
Tips For Buying The Right Policy For Your Wedding
- Look over your existing homeowners and renters insurance policies or those of any relatives hosting or paying for the wedding to see whether existing liability insurance will cover you.
- Check the deductible, which is the amount deducted from a claims check. If one vendor doesnt show up, and the deductible is higher than the deposit for that vendor, youll swallow the cost for that lost deposit.
- Look at coverage limits. For cancellation coverage, youll want the limit to be close to your wedding budget, including the honeymoon.
Lacie Glover is a staff writer at NerdWallet, a personal finance website. Email: . Twitter: .
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Help Protect Your Big Day With Markel Wedding Insurance
Because peace of mind should always be on the guest list.
Your wedding day has taken you months to plan. And if everything goes right, it will be a smashing success! But how often does everything go according to plan? You may have never thought about it this way, but there can be financial repercussions to almost any hiccup that could occur before or during your wedding. Thankfully, theres Markel Specialty wedding insurance to help you recover or repay for many of those situations.
How Does Wedding Insurance Work
Wedding insurance falls under special event coverage and usually comes in one-day, two-day and weekend length policies. There are two general types of policies:
Todd Shasha, managing director of personal insurance product management at Travelers, said wedding insurance is the perfect way to protect a significant investment.
No matter the size, location and scale of your nuptials, a wedding is a significant investment as couples and their families plan full weekends complete with a rehearsal dinner, the wedding event itself and perhaps a celebratory send-off brunch. A wedding insurance policy helps to protect that investment from common and costly mishaps that can occur before, during and after the celebration, he said.
Wedding insurance varies by coverage levels and deductibles. You can also add riders to the policy, such as liquor liability protection.
One item that isnt covered by any wedding insurance is the planner.
I am an LLC and carry my own insurance, but that doesnt protect against cancellations, she said.
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Learn More About Wedding Insurance
There are various forms of coverage included as part of our Wedding Insurance package. Have a look through the list below which outlines each form of insurance and what it covers:
1. Commercial General Liability
This is liability for 3rd party property damage or bodily injury that could occur at one of your wedding events including rehearsal dinner, ceremony, reception, and gift opening.
2. Host Liquor Liability
As long as a Serving-It-Right licensed bartender is serving the alcohol at your engagement party / wedding reception, youre covered for potential liability claims involving liquor consumption.
3. Wedding Cancellation
The cost to reserve your venue including any deposits or amounts owed under contract can be paid via your wedding insurance policy.
4. Honeymoon Cancellation
This policy will reimburse the Insured if there is a loss of pre-paid, non-refundable costs of travel due to the cancellation of the actual wedding.
5. Loss of Deposits
Our reliable Underwriters will pay for non-refundable deposits that had been paid to providers of any booked goods or services if they suffer financial failure.
6. Wedding Photos & Videos
Any extra expenses that may be necessary to retake the photos and videos that cannot be reproduced from your wedding day for any reason including non-appearance of photographer.
7. Bridal Attire
8. Wedding Gifts
9. Rings / Wedding Bands
10. Wedding Cake & Flowers
11. Wedding Stationery
12. Rented Property & Equipment
Why Do I Need Wedding Insurance
Our wedding insurance can offer you peace of mind in the run up to the big day by covering a whole host of problems that could occur. These include:
- Failure of suppliers – whether thats a professional photographer or wedding transport
- Wedding Cancellation Cover – if you have to cancel or rearrange your wedding due to unforeseen, unavoidable circumstances including a caterer not turning up, absolutely devastating sudden loss of a family member or a serious and upsetting medical prognosis.
- Wedding Dress Insurance – that will cover you for any loss or damage of ceremonial attire.
- Wedding Ring Insurance – covering accidental loss or damage to the wedding rings seven days before, or during the wedding ceremony.
- Theft of wedding gifts our Wedding Gift Insurance is designed to cover the wedding presents while they are on display at the wedding ceremony and/or reception.
- Wedding Cake, Transport and Flower Insurance offering up to £1,000 worth of cover for cakes, up to £1,000 worth of cover for flowers and up to £1,000 worth of cover for wedding transport.
- Wedding Reception Insurance – our standard policy automatically extends to cover the wedding reception, on the basis that it proceeds and it is on the same day as the wedding ceremony.
- And with more and more venues asking for you to provide your own Public Liability Insurance, we have a range of levels which you can choose from.
With premiums starting as low as £56, don’t rely on luck, rely on NWS Wedding Insurance
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