SPECIAL EVENT LIABILITY INSURANCE

Your wedding is your big day and one you’ll likely remember for the rest of your life. With that in mind, many couples choose to go big for their wedding selections, wedding dress, and rings or, at least, not go with the cheapest food, flowers, and decor. If you’re planning to fork over tens of thousands of dollars or more for your dream wedding, it makes sense to buy insurance that can reimburse you if parts of your wedding don’t go as planned or if your event must be canceled or postponed.

Why Should One Get Wedding Insurance:

While it’s easy to think wedding insurance is only for such situations as severe weather or a freak accident or illness, there are plenty of important reasons to purchase this coverage. First off, many venues require liability coverage to be purchased to protect against injury and damage that might take place during an event. If you don’t buy liability wedding insurance, you may have a limited number of venues from which to choose.

Wedding liability coverage can save the day if someone is injured during your event, and they knock on your door for help covering their medical bills. If you plan to serve drinks at your event, you’ll want to make sure you purchase a policy with drink as a liability, which protects you against damages caused by influence-related accidents or injury. On the other hand, cancellation coverage can protect you against an array of situations you could never plan for—severe and sudden weather, vendor bankruptcies, a water leak that ruins your wedding gown overnight, and more.

Wedding insurance covers huge expenses due to the cancellation of marriage or any other damage or loss. Insurance policies broadly cover different situations in four categories-

1. Coverage of Liabilities: This section covers any damage or loss caused to third parties during marriage ceremonies due to accidents or injury.
2. Cancellation Coverage: This part covers the loss due to the sudden or unexpected cancellation of the marriage.
3. Damage to Property: It protects against loss or damage to property during the wedding events.
4. Personal Accident: This includes the cost of hospitalisation of the bride/groom due to accidents.

If any untoward incident happens during the marriage program then you should immediately inform the insurance company about it. After this, there will be an inquiry by the insurance company to ascertain facts and if you have suffered a loss due to the valid reason, then you will be compensated for the loss caused.

Wedding insurance does not entertain claims in the situations like terrorist attack, strike/civil unrest, groom/bride kidnapping, loss of clothing and personal property of wedding guests, sudden unavailability of wedding venue, vehicle breakdown, damage or destruction of the wedding venue at the instructions of the policyholder, property damage due to negligence or lack of supervision.

Important Aspects:
To get the best out of a wedding insurance, the below facts should be kept in mind:

1. Even if the expenses exceed, the company will pay only the sum insured
2. The bonds, bills and certificates for valuable need to be submitted to get the compensation for loss and damage of the same
3. To get the claim amount in less time, the insurance company must be provided with a clear breakup of the loss and damage
4. Wedding Insurance covers only the loss or damage of jewellery gifted by relatives and in- laws
5. If more vendors are engaged, the premium amount will also increase

Advantages Of Buying Wedding Insurance
Some of the key benefits of a purchasing a wedding insurance are:

1. Premium is quite economical. It is only 0.7% to 2% of the insured amount
2. Insurers offer customised wedding insurance policies. The beneficiary might opt insurance only for the primary event or can go for a combined package.
3. Through the public liability coverage, one can be relaxed because certain companies even take care of food poisoning taking place due to food served at the function

Wedding Insurance Exclusions:

If you look over a sample wedding insurance cancellation policy, you’ll find that a nearly endless number of exclusions can apply. Just like pandemics and other pre-existing situations that may cause you to cancel are excluded, other standard exclusions include lack of funds, the prohibition of the event by a local ordinance, voluntary postponement without a covered reason, weather conditions that aren’t severe or out of the ordinary, and more.

If any untoward incident happens during the marriage program then you should immediately inform the insurance company about it. After this, there will be an inquiry by the insurance company to ascertain facts and if you have suffered a loss due to the valid reason, then you will be compensated for the loss caused.

Wedding insurance does not entertain claims in the situations like strikes/civil unrest, groom/bride kidnapping, loss of clothing and personal property of wedding guests, sudden unavailability of wedding venue, vehicle breakdown, damage or destruction of the wedding venue at the instructions of the policyholder, property damage due to negligence or lack of supervision.