What Is Event Insurance For Weddings
Essentially, our event insurance for weddings covers you if damage has been inflicted upon the venue or any of your guests during your wedding day celebration. In addition to these coverages, you can also add a coverage for host liquor liability insurance. This added alcohol insurance for weddings will cover you in case of an accident resulting from the serving and consumption of alcohol.
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
Does Wedding Insurance Cover My Honeymoon
No, wedding insurance wont cover your honeymoon, youll need travel insurance for this. Cover for your honeymoon will be the same as holiday cover, so you can use tools such as Compare the Market to find the best deal for you. Its best to purchase your policy as soon as you book in case of cancellations. Remember, if youre going skiing or taking part in any other risky activities while youre away, make sure you have insurance that covers you for this.
READ MORE:The Ultimate Honeymoon Checklist
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Where Do I Buy It
OK, this is the good news: You can buy it online.
When you do buy the policy, be sure to check your contract with the venue.
Often, the venue will include specific details that you need for the policy including the liability coverage insurance limit , what the policy needs to cover , and who needs to be listed as the insured .
How Much Is Event Insurance For A Wedding
Wedding insurance costs are quite reasonable. According to wedding experts at The Knot, general liability insurance for events costs an average of $185 for basic plans and covers up to $1,000,000 for accidents. However, policies do vary, and for higher budget weddings, the recommended coverage can cost you up to $1,000.
Regardless of your budget, wedding insurance costs just a tiny percentage of your overall expenditures. The more lavish and expensive your wedding, the higher your insurance costs will be. However, if you can afford a big wedding, you can certainly afford the insurance to cover it.
Recommended Reading: Wedding Venue Comparison Spreadsheet
Wedding Venue Cost Factors
So what influences the large variability and range in costs? Your venue cost typically incorporates a lot of your reception expenses . For example, more expensive venues generally tend to offer more inclusive services, and higher-end options. The following table shows the common elements, and what a couple hosting 140 guests might get at four possible venues in Atlanta, GA.
Based on these examples, a couple could spend anywhere between $37 and $572 per guest, depending on the venue, and also on the elements included for the reception, such as a cocktail hour with hors douevres and a piano player, and main dish options from lasagna to lobster.
Food & Drink Requirements
Some venuesoften hotels, banquet halls, and private clubsrequire couples to source all of their food and drinks in-house. Others, especially those with minimal kitchen facilities, like gardens or historic buildings, expect you to hire a caterer and all other vendors youll need. You may or may not save money by choosing the piecemeal approach, depending on how the individual pieces add up.
On-Peak vs. Off-Peak Timing
Wedding Insurance Pricing And Providers
The cost of wedding insurance will depend on the number of guests attending, what types of coverage you purchase and the limits of your policy. The least expensive policies available can cost under $100 for liability coverage only, and larger policies can cost over $1,000 for cancellation insurance.
|WEDDING INSURANCE PROVIDERS, BASE PLANS AND OPTIONS
|Travelers Wedding Protector Plan
|5% discount for Progressive customers.
|15% discount for bundling in most states prices start at $175 for discounted bundle.
|Can purchase separate coverage for:
Also Check: Short Notice Wedding Planning Checklist
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: .
Best For Wedding Liability Coverage: Wedsafe
WedSafe was established in 1999 and issues wedding insurance underwritten by Nationwide, backed by Aon Affinity and K& K Insurance. They offer event liability insurance with a very comprehensive wording and can cover the venue and additional named insureds.
WedSafe also offers coverage for liability in departing from the U.S., Canada, Puerto Rico, or any territory or possession of the U.S. like the U.S. Virgin Islands.
For their cancellation and postponement coverage, we like that you’re able to choose different levels of insurance in categories, such as the ceremony, reception venue, caterer, photographer, videographer, flowers, special attire, and other wedding purchases. They have a low deductible on their cancellation policy. This level of coverage selection allows you to assign amounts that fit your event and budget.
There’s also extended optional territory coverage.Wedding cancellation and postponement insurance are available in the UK, Mexico, the Bahamas, Bermuda, and Caribbean Islands at only about 10% more than the cost of cancellation insurance for the U.S.
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How To Buy Host Liquor Liability Insurance
Get started by completing the Event Insurance quote form , indicating that Yes, alcohol will be served at the event. From there, well need to have a third party have their own primary liquor liability policy. This third party must then add you on as an additional insured. This costs an additional premium but is inexpensive and is certainly well worth the effort for the added peace of mind that it brings if you are indeed hosting a wedding where alcohol is being served.
Are you in the US? Wedding insurance in the US can be arranged quickly through our online program. Only available in California, New York and Texas at this time. Check back soon for more availability.
What Does Duuos Event Insurance For Weddings Policy Cover
Duuos event insurance for weddings covers the following:
- Event liability
- Tenants legal liability
- Medical payments
- Host liquor liability*
*Can be added at an additional cost. Not available for sporting events. You must also acquire any liquor licenses & permits required by your Province. Individual circumstances may vary. You may wish to contact the licensed insurers representative or a licensed insurance agent if you need advice about your insurance needs.
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Wedding Public Liability Insurance
Wedding Public Liability Insurance is designed to cover the costs associated with defending the wedding organiser, whether that be the bride, groom or a professional wedding organiser, against claims arising from the injury or death of a member of the public, or for the damage or loss of their property.
Wedding venue owners will often request that public liability is purchased by either the bride or groom before the ceremony takes place.
Our Event Insurance policy, which provides public liability for weddings, is designed to meet the needs of your wedding venue. Even if your venue doesnât explicitly state that they need wedding public liability insurance, taking out a policy gives you the peace of mind you need to focus on your big day.
Public liability can save you from substantial financial problems. To get an instant quote simply complete our quote form below. If you have any questions our Sales team are available on 01949887909.
Wedding Insurance Provides Peace Of Mind
Weddings can be expensive. Often couples and their immediate family members spend large sums of money to pull off a dream wedding from the hall to the food to the music and everything in between. According to theknot.com, the average couple spends nearly $30,000 on their wedding. When you are investing that kind of money, you want to make sure the day goes smoothly. Wedding insurance protects you in two ways. Wedding cancellation insurance covers your financial obligations should your wedding have to be cancelled or postponed. It also provides coverage for damage to your wedding attire and jewelry, lost/stolen gifts, photographs, lost deposits from no-show vendors and more. Wedding liability insurance, on the other hand, covers you when you are legally responsible for injury or damages that occur at your wedding. Having this type of insurance can take a huge weight off your shoulders, so you can enjoy your big day.
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Get Quotes From Brokers
If you’ve time, brokers can give advice on what policy to pick, and they often have connections with various insurers so might be able to offer you a special deal.
Your best option will be to find a broker who’s a member of the British Insurance Brokers’ Association, who’ll be able to help you find the right product.
What Is The Best Wedding Insurance
The best wedding insurance should combine a wide variety of coverage options with responsive customer service and affordability. The four companies reviewed above Markel, WedSafe, WedSure, and USAA fulfill all these conditions to different degrees.
As for what type of wedding insurance is best, liability wins out based simply on practicality. Cancellation insurance is harder to make a case for due to its limited nature and usability.
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Destination Wedding Hidden Costs
Nothing beats flying to an exotic or dream location for a magical wedding. But lets be realistic, destination weddings are NOT cheap and incur lots of unexpected wedding venue costs that will throw you off-guard if you are not prepared.
Planning Trips: You should definitely plan on at least one visit to your desired location before the big day so you have to figure out transportation costs, as well as hotel, food, and any other travel expenses, above and beyond the cost of travel for the actual wedding trip.
Transportation Costs: You may have to pay for the florist, DJ or band, hairdresser and makeup artists airfare, and maybe even family members or members of the bridal party. Plus any decorations, favors, etc., will have to be shipped.
Regional Marriage Requirements: Most countries legally require you to be in the country two to five days prior to the big event . You should definitely research this well in advance and budget accordingly for extra hotel costs, etc.
Foreign Taxes and Exchange Rates: This could incur extra costs on every single expense .
Second Reception: Realistically, all of your guests may not be able to attend your destination wedding so you may want to host a second celebration at home to include them, thus incurring additional expenses.
How To Complain About Your Insurance Provider
The insurance industry doesn’t have the best customer-service reputation and while a provider may be good for some, it can be hell for others.
Common problems include claims either not being paid out on time or at all, unfair charges, or exclusions being hidden in small print. It’s always worth trying to call your provider first, but, if not, then
Free tool to help you complain
This tool helps you draft and manage your complaint. It’s totally free to use, and it’s offered by Resolver, a firm we work with to help people get complaints justice.
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Host Liquor Liability Insurance
If youre planning to have alcohol served at your wedding, then it is important to consider adding host liquor liability insurance onto your event insurance policy. Your guests will hopefully behave like responsible adults at all times, but in the event that alcohol fuels a fight where someone gets injured or something similarly troublesome, host liquor liability insurance will cover you.
In this post, well provide an all-encompassing overview of host liquor liability insurance, including an explanation of why it should be considered for weddings and some helpful tips on how to discourage overdrinking at weddings.
How To Find Wedding Insurance
If you’ve read through the need-to-knows and think wedding insurance is right for you, follow our step-by-step plan to getting the best possible cover for the best price.
Unfortunately many insurers have stopped selling new policies, due to coronavirus and the risk of cancellation but our steps to getting cover, including wedding insurance abroad, should help.
Step 1 is essentially the prep, then pick the best policy you can from steps 2-4, and see if you can get cashback on top .
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You Should Be Protected If Your Insurer Goes Bust
It’s important to make sure that your wedding insurer is FCA-regulated so you’re protected under the Financial Services Compensation Scheme .
If your insurer goes bust, the scheme will try to find another provider to take on your policy, or issue a substitute. However, if you have any ongoing claims, or need to make a claim before a new insurer is found, the FSCS should ensure you’re covered financially.
The Average Wedding Cost In Canada
Estimates range that in Canada , the average wedding costs between $22,000 and $30,000 . Some report that the cost of weddings have doubled in 10 years, while the media annual family income in Canada increased about 26%. It just doesnt square: Were spending heaps of money on weddings that have outpaced our salaries , and whats more, divorce rates arent really budging. What is driving all of this hoopla?
Recommended Reading: Wedding Vendor Spreadsheet
Venue Owners Insurance Policy
Note: this is a US-only program.
Venue owners: ensure your tenants have the proper liability insurance when you incur a no cost Front Row TULIP policy.
TULIP stands for Tenant Users Liability Insurance Protection. It is designed to provide short-term liability insurance to users of a venue. Assume you own a 500 seat auditorium that you rent to speakers, bands, religious groups, film festivals, etc. With a TULIP policy, you can offer liability insurance to the renter of your venue for a dramatically reduced rate.
The organizer of 500 people attending a speaker might pay $150 for $1,000,000 in general liability coverage to protect against bodily injury and property damage to third parties during the event. The organizer might pay $300 or more for similar coverage if they had to purchase their own stand alone policy.
A Master Policy can be created for your venue that any tenant can access. The master policy is created at no cost to you. The tenant benefits by getting a much less expensive policy than they could find on their own. You get the comfort of knowing that your venue is protected with coverage that you understand. Other benefits include:
To receive an indication of a premium cost, fill out this short application form below:
About Front Row:
Front Row is a specialized entertainment insurance broker with offices in Los Angeles, Nashville, Toronto, Vancouver and Montreal.
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