Updated: Jun 5
Your big day is almost here - make sure you protect your investment.
You've spent months and maybe even years planning your big day. You've hired your vendors, designed the look and feel of the event, hired your coordinator and are ready to go!
But, there's one more thing that no one ever wants to think about. What if something goes wrong on your wedding day? How will you protect your investment?
What is special event insurance?
Special event insurance works just like any other insurance policy. You pay a certain amount of money and you are given an insurance policy that will cover you based on the terms to you request. The policy will cover you on the day of your wedding (or whatever dates you have wedding events happening). There are a few different policy options, but the main ones are Wedding Liability Insurance and Wedding Cancellation Insurance.
Many venues throughout Colorado are starting to require you to have day of event insurance (which would be the Wedding Liability Insurance). The biggest point I want you to know is that while these policies do assist the venues in case of loss/damage, the policy also PROTECTS YOU! Please do not make the assumption that when your venue requires you to have this insurance it is only to benefit them!
While the coverage varies policy to policy and can changed based on what you choose, your insurance can cover you if:
- someone gets injured at your wedding
- there is property damage during your wedding
- your wedding is cancelled due to weather or illness
- there is damage to your wedding gown
- your wedding photos get lost or damage
- your gifts are stolen
- your vendors cancel or are no-shows
What could happen on my wedding day that I would actually need this insurance?
This list below is from WedSure, a leading wedding event insurance company, and outlines the top 20 reasons you may call upon your event insurance to financially assist you and list list may surprise you! (List below is from https://www.wedsure.com/top-10-wedding-mishaps/top-20-wedding-mishaps/)
A tornado rendered the venue uninhabitable (Cancellation/Postponement). $35,000
The rings were stolen out of the groom’s home (Jewelry). $15,352
The seamstress lost the bridal gown (Special Attire). $3,412
The tuxedos were double rented (Special Attire). $2,278
A drunk guest got into an auto accident (Liability). $500,000
The photographer’s car was stolen with the camera and wedding photos (Photographs/Video). $15,000
The reception venue went out of business (Loss of Deposits). $8,500
The DJ went out of business (Loss of Deposits). $1,257
The wedding gifts were stolen at the reception (Gifts). $12,300
Bridesmaid left a candle burning in the dressing room and the facility caught fire (Liability). $150,000
The bride’s father had a heart attack (Cancellation/Postponement). $50,000
The flower girl hid the wedding ring in her princess purse. Scary but not expensive!
A wild fire burns down the wedding venue days before your wedding (Cancellation/Postponement) $40,000
The guests got food poisoning (Liability). $56,221
The groom’s previously approved military leave was revoked (Cancellation/Postponement). $32,528
An elderly guest was knocked over and broke both of her hips (Liability). $352,000
Only 1/4 of the guests showed due to an ice storm (Cancellation/Postponement). $43,625
The caterer failed to show (Cancellation/Postponement). $15,350
The minister failed to show (Cancellation/Postponement). $8,350
The groom was laid off and the couple could no longer afford the wedding (Cancellation/Postponement). $6,500
“Don't let rain (or snow) damper your plans. Proceeds from Weather Insurance may be used to rent a tent, cover snowplow fees, or pay for any expenses that you incur due to rain and/or snow at a covered event." - WedSure
How do I get wedding event insurance?
There are many different online services that provide special event insurance coverage. And most importantly - it is VERY EASY to acquire and costs usually $125 to $400 depending on the coverage you are looking for. Companies like WedSure, WedSafe, and EventHelper are the places that I'd recommend to start.
The benefits outweigh the cost
I get it, weddings are expensive. Sometimes taking the plunge to pay an extra few hundred dollars is very hard. But, in my opinion - event insurance may just be one of the best extra hundred dollars you spend. Things happen. People happen. Life happens. And while you won't be able to change the outcome of the events that transpire, you can at least cover yourself financially for any losses.