No doubt that May is the wedding season. If you’ve taken a look at your social media you’ve seen a slew of happy couples getting engaged and planning their nuptials. A wedding is one of the great events in a person’s life, the beginning of a new chapter centered around family life. If you’ve ever been a part of a wedding or been the financier of one, you know that most weddings are truly an investment. In this article we will discuss insurance policies available to protect your wedding, venue, or business.
Wedding insurance is a type of special event insurance that covers your for unexpected financial losses resulting from various circumstances. These include; unexpected illness, cancellation, and theft of wedding gifts. The insurance policy you’ll need depends on what type of wedding you’ll have, the number of guests, and your specific needs.
Wedding and Event Liability
Wedding Liability insurance is a way to protect yourself against financial loss that could result from a wedding mishap or vendor incident. Wedding Liability insurance is now required by many wedding venues. Wedding Liability insurance will protect you if you are held liable for property damage to the event space or bodily injury to your guests.
Cancellation or Postponement
Cancelling insurance reimburses you for any expenses in the event that the wedding has to be called off. However, this policy does not cover one important circumstance, a change of heart. There are some exceptions to this and they almost always apply to a third party paying for the wedding. If circumstances beyond your control force you to postpone or cancel your wedding, this coverage provides reimbursement for losses and expenses resulting from; severe weather, sudden illness, no show vendors, damage to attire, photos, and gifts among other things.
Before you purchase wedding insurance, check with each of your vendors and see how well they are covered. Your reception site and caterer may already have their own insurance. Ask your vendors for a copy of their policy and use this to see if you are fully covered.
Venue liability insurance is an absolute must for any wedding and may be required. This ensures you will not be held responsible for any accidents, especially if you are serving alcohol at your wedding. Cancelling insurance is a good idea because of the great expense that goes into most wedding days. Cancellation insurance may become less or more relevant based on the location and date of your wedding.
If you are hosting a wedding at your home or the home of a family member, insurance may be a different matter. Ask your agent if it is possible to add a rider to the policy for your wedding. Certain items, like the rings, may already be covered under the existing property insurance.
We hope you found this article interesting and informative! If you have any questions about wedding insurance or wish to look into insuring your wedding give us a call at Southern Insurance, (423) 296-06