Let’s face it; getting married is an investment in your future. You insure your life, your apartment or house, and your car—why wouldn’t you insure your wedding? These are all BIG investments.
Things happen and wedding insurance protects you against the unforeseen.
What Exactly is Wedding Insurance?
It protects a couple’s investment from circumstances beyond their control and reimburses them for expenses incurred.
What Does It Cover?
Insurance companies will generally offer two different types of event insurance:
- Cancellation/Postponement Package: This package offers protection if you need to cancel/reschedule your event for something like severe weather, sudden illness, lost/non-refundable deposits, or vendor bankruptcy.
The coverage also provides protection for damage to wedding attire (bridal gown, wedding rings), damaged wedding photos/videos, stolen gifts, … and so on.
- Liability Insurance Package: This package provides affordable coverage that protects you in the event of injuries or property damage—this excludes damage and injuries caused by intoxicated guests.
For that, you would need the additional liquor liability insurance, which is designed to protect you against liability claims for alcohol-related accidents at your event.
Here at The Haight, we provide liquor liability insurance within our packages.
If you cannot get wedding insurance through your existing provider, we recommend reaching out to WedSafe or Markel.
Is It Worth It?
We asked our preferred planners why wedding insurance is beneficial.
Leanne Valdes of YouNameItEvents says:
Event insurance is a very smart thing that most couples don’t even consider. The overall investment you are making in having this one single day be what you’re envisioning it to be is multi-faceted: emotions, finances, time, effort, and more go into the planning process. Event insurance can be a very simple and affordable way to put your mind at ease. It can give you the comfort of knowing that, if by some crazy chance, things don’t go as planned, you’ll be in a position to try again instead of losing everything you have put into it. When you compare the cost of a typical wedding, it is often one of the most expensive things you’ll ever pay for. We insure most of our valuable possessions—our homes and our cars are insured, just because your wedding isn’t a physical item doesn’t mean it isn’t just as valuable as those other investments.
We spoke with one of our preferred DJs, Backthird Entertainment, and they provided us their insight on why it’s important for vendors to have insurance.
In 15 years of working weddings we’ve never needed to file an insurance claim – but I haven’t had a car accident in 15 years either, and I still carry auto insurance. Carrying insurance is a necessity for pros, and it’s one way to tell whether the DJ you’re considering is a pro or not. In fact, many of the venues we work at won’t allow a DJ in the door who doesn’t carry insurance.
Why is it important for us? Insuring our gear means we can be back up and running quickly if a theft or major disaster were to destroy our equipment. Carrying liability insurance means our business isn’t at risk if, rightly or wrongly, a guest were to become injured at an event and decide to bring a lawsuit against the venue or the DJ.
What does that mean for clients? The vendor who’s carrying insurance today is a lot more likely to still be in business 6 months or a year from now. We have insurance at today’s event, so that we’ll still be here to work at tomorrow’s event for the couples who are hiring us today.
We also spoke with Mary Rose, one of our preferred photographers on why she carries insurance.
I have insurance for two main reasons. The first reason is so that if my equipment is ever lost, stolen, or broken, I can replace it quickly with a small deductible. The second reason is to protect me in a lawsuit.
Couples should make sure their photographer has insurance for these same reasons. An insured photographer has no excuse not to show up with the appropriate equipment, and if the worst happens and a lawsuit is necessary, insurance will cover some or all of the legal fees. Knowing that your photographer has insurance is important for another reason. A wedding photographer who has taken the responsible step of insuring themselves is most likely responsible in other ways, like in the way they handle your very precious wedding photos and the way they conduct their business.
As a venue, we recommend event insurance for your peace of mind and we do require your vendors to be covered.