You’ve planned for flowers, food, and a photographer- but have you considered special event insurance for your wedding? Every couple hopes their big day will go smoothly, but if that is not the case, special event insurance can help protect you from unexpected financial losses. In addition to adding an extra peace of mind, some venues are now requiring certificates of insurance for events. You may be wondering, what does special event insurance cover? While policies vary, below are some scenarios that showcase why having a policy in place can be a smart financial move.
Your wedding has an unexpected guest crash the party- a hurricane. As the day creeps closer, you watch months of planning evaporate as the quaint coastal town you chose to hold your ceremony is forced to evacuate.
If a hurricane ruins your big day, special event cancellation coverage typically can help you recover costs if your event needs to be cancelled. Some coverages include tropical storm coverage or snowstorm coverage. While special event insurance usually covers extreme weather, it should be noted that the average summer thunderstorm is usually not covered, so it’s always a smart idea to have a back-up plan for outdoor ceremonies, like renting a tent or having a nearby indoor space large enough to accommodate everyone.
You find the perfect venue that you and your fiancé both love. You put down a non-refundable deposit, and send out invitations. You arrive a few weeks before the wedding to go over some last minute details, and find the doors paddle locked. The owner does not answer the phone.
If the banquet hall you booked months ago goes bankrupt and closes, event cancellation coverage could reimburse you for your deposit. Policies vary, so it’s always good to review yours with a local insurance agent to see what situations are covered.
Uncle Marty cha-cha slides straight into Table 13, tripping and injuring his arm. He has to go to the emergency room and get x-rays to see how bad the damage is.
Event liability coverage can help cover you for injuries or property damage caused during your event. Liability coverage is usually limited to a 24 to 48 hour period.
Not all event policies are created the same. It’s important that you review different policies to see which kinds of special event coverages are included. Policies can cover a spectrum of different things- from military deployment, to damage to the venue. Reach out to your local insurance agent to see what policies and coverages are available in your area.
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