Wedding/Event Insurance

If you are hosting a large event, such as a wedding, the venue may require you to provide "event insurance." But what does this encompass and why do you need it?

There are 2 components to event insurance:

Liability/Property Damage - this provides coverage should the venue be damaged by your guests, or should someone be injured during the event. Some venues have their own coverage, but others will require you to provide proof of your coverage. The cost for this coverage is based on the liability and property damage limits you choose, but is usually around $200 - $400.

Cancellation - this coverage protects you should the event be cancelled. Deposits that you've paid to the venue, caterers, DJs, florists, etc are usually non-refundable and can add up to thousands of dollars. Cost for this coverage is based on the budget for the event and usually starts at about $150 for a $25,000 event.

These policies are usually only valid for the day of the event, and possibly the day before or after if you have set-up or tear-down days scheduled.

Be sure to read all policies carefully so you know what the exclusions are. For example, "cold-feet" is not a covered event for cancellation insurance.