Shelter in place orders to help stop the spread of COVID-19 forced the cancellation of family events across the U.S., many of which had been meticulously planned for months in advance. This pandemic highlights the importance of special event insurance. Whether you’re planning a wedding, Quinceañera, baby shower, religious ceremony or other special event, there’s much to consider to make it perfect – determining your guest list, vendors, decorations, food choices and all the small details. The last thing you think about is having an insurance policy for your event. But a special events insurance policy acts as your protection from a variety of claims that might occur on your big day – and in times like these, it’s important to be prepared for the unexpected.
Consider these claims situations:
- A guest is over-served drinks and decides to drive home. He hits a pedestrian on the way out. While his insurance company is likely on the hook for most of it, you or the venue could be held liable for over-serving this guest.
- You decide to have a winter wedding, but the morning of, the airport is closed and the highways are impassable. You and your guests can’t make it.
- A vendor for your event goes bankrupt the week before and won’t be there.
- The bride or groom is active military and is called to deployment unexpectedly.
Special event insurance can cover event cancellation and event liability. If your event is cancelled or postponed, your policy can cover lost deposits and other fees up to your coverage limit. It can also reimburse you if a vendor has to cancel last minute. It may also protect you if you’re found responsible for property damage or bodily injury caused during your event, but it’s important to check your policy to know what kind of situations may or may not be covered.
When do you need to buy event coverage? It’s recommended to buy coverage as soon as you start making deposits or purchases for the event, but you might be able purchase coverage up to two weeks before your event.
Special event insurance is one of the greatest and most affordable insurance policies. Typically starting around $185, this simple insurance policy can mean the difference between getting the wedding you want or settling for what is left after the loss of deposits and other expenses. Protect your special day with this affordable insurance policy. The peace of mind alone is worth the cost.
To learn more about a special event policy, contact Higginbotham’s personal insurance experts.