Are there upcoming nuptials on your schedule? Planning a wedding takes a lot of time – and often – a lot of money. In fact, the average U.S. wedding cost is now around $28,000 according to USA Today. It also places families in the role of event planner, and one of the factors to consider during that planning is wedding insurance. Here are some risk scenarios to help you understand what you may need for coverage.
A Wedding at a Venue
Having your wedding and/or reception at a venue? Great! Some of the risks that can occur with an event will likely be covered by the venue’s insurance policies. However, many venues now require you to have an event insurance policy as well. Event insurance for weddings usually includes liability insurance, which could help cover damage to a venue’s premises and injuries suffered by guests. These policies may also have provisions for cancellations or postponements that could occur if specific perils affect your plans or impact your wedding vendors (e.g., photographers, caterers, etc.)
Often, we’re asked if the venue can be added as a “named insured” for the liability on a homeowner’s policy. It is highly unlikely that any insurance companies will allow this option.
A Wedding on Your Property
Having the wedding on your home’s property or other owned property? Lovely! It is possible your home insurance will have the coverage you need for liability if something were to occur during the event. However, it is unlikely that cancellations or postponements would have coverage provided. In addition, there is a key part of your planning that needs to be addressed…
A Wedding on Your Property with Alcohol
If you are providing alcohol at your wedding, especially if it is for sale, you likely will not be covered for that risk by your homeowner’s policy should an issue occur. Instead, you’ll need liquor liability coverage unless you’ve hired a professional bar service that provides their own coverage for this. However, it is best to review these options and any other policies with your agent before assuming that you would be covered.
Don’t let your special day be ruined by an uncovered risk. Talk with our agents to discuss the wedding insurance coverage that’s right for your event today.