What exactly is wedding insurance—and how does it work? You might not want to think about it, but disasters can strike on your wedding day. From a sudden cancellation to stolen gifts to a damaged gown, event insurance with Farmers Insurance from the Keene Agency can help protect you against the unforseen. It can also afford you great peace of mind. But many couples ask, what exactly is wedding insurance—and how does it work? Here's the inside scoop.
Event insurance. This type of coverage protects couples financially and covers their wedding arrangements against various mishaps. It is actually affordable enough to fit into almost any couple's budget. With policy price tags starting around $125, couples planning expensive weddings cannot afford to go without coverage. This small investment will bring big piece of mind.
The decision to purchase event insurance, whether by personal choice or because it is required by your chosen venue, is something to give some serious consideration to. In the United States, the average cost of a wedding is more than $30,000. Some couples get by on less, but there are many couples who spend much more than this amount on the reception alone. The key to deciding whether insurance is necessary, if your venue does not require it, is to weigh the total wedding bill against the cost of coverage. For a couple who plans to have a quick elopement wearing their everyday clothing, it is probably ok to go without coverage. However, couples planning a large wedding with a catered reception would certainly benefit from this type of coverage from Farmers Insurance's Keene Agency. There are several policies designed to provide the right coverage for your event regardless of whether it is lavish or simple.
Event insurance from Farmers Insurance's Keene Agency protects a your investment from circumstances beyond anyone’s control, and reimburses expenses incurred. For example, what if your limo driver doesn't show up and you have to book another one the morning of the wedding—for three times the price? Or what if the groom's custom-made tuxedo is lost in airport baggage, and he has to buy a new one the day before the wedding? What if your reception space goes out of business a month before the wedding, and you lose your deposit and have to book another venue? These are the types of wedding day financial losses that Farmers wedding insurance policies can help to protect against.
Farmers' event insurance protects you from a variety of mishaps in several specific areas of focus. There is general liability insurance which is used to protect you in the event of property damage or bodily injury caused by agents or employees of the insured. In most cases, venues will require special events insurance of no less than one million dollars and to be included on the policy which is far more affordable than a million dollar coverage policy sounds.
Liquor liability insurance is also part of our policy and it is used to provide protection in the case of alcohol being served to a minor, or any statute, ordinance, or regulation relating to the sale, gift, distribution, or use of alcoholic beverages.
Cancellation insurance is an important one that we cover. It is used to protect you in the case of cancellation due to unforeseen circumstances such as severe or inclement weather, or a vendor such as the photographer or caterer doesn’t show. This usually also covers the loss of deposits and costs already paid in advance depending on your selected policy.
Still not convinced? Consider these scenarios:
• Janet and Dan spend months planning their winter wedding, but on the wedding day, their reception site is made inaccessible by an ice storm. With the right event insurance policy from Farmers, they can postpone their wedding and receive every penny they lost (less the deductible)—including money for the invites, cake, catering, attire and nonrefundable deposits for ceremony musicians, a floral designer and other vendors.
• The bride's father is injured in a car accident just before the wedding and cannot travel. If the couple has to postpone their wedding, with wedding insurance from Farmers they could be reimbursed for their expenses which will then enable them to have their wedding when her father recovers.
• Right before the ceremony, Brittany's gown catches a gust of wind. Unfortunately, the tulle dances right over to the end of Uncle Howard's cigar and the dress instantly goes up in flames. Fortunately, the right insurance policy covers the replacement of the veil and gown.
Now you are probably thinking, how much will event insurance cost? A basic insurance policy that covers the loss of photography, videography, attire, gifts, rings, and deposits usually costs anywhere between $155 and $550, depending on the amount of coverage that you would like to have. General liability insurance, which covers up to $1,000,000 for accidents, costs around $185.
Now, before you purchase event insurance with us, check with your each of your vendors to see how well they're covered. Your caterer or photographer may already have their own insurance, so you wouldn't need to pay for overlapping coverage out of your own pocket. Ask each vendors for a copy of their policy so that we can better help you determine what coverage would be best for you.
Now, having read this, if you are wondering when should I call Farmers to get event insurance? We recommend taking care of it the sooner the better. This way, if you put a deposit on your venue 12 months prior to your wedding date and then it burns to the ground a few weeks before the big day. With event insurance through Farmers' Keene Agency, you'll be sure to get your deposit back.
Problems with the site, weather, vendors, key people, sickness or injury are the top concerns come wedding day. There's usually a specified maximum amount, which can be claimed under each section, and a deductible also applies. We will be more than happy to walk you though all the details of your insurance plan with us to ensure that you have the right amount of coverage for your big day. The only things we cannot cover in your polict would be a change of heart. In other words, cold feet don't count. In some cases, watches, jewelry or semiprecious gemstones or pearls (even if they are attached to clothing) may not be covered dependent on your specific policy. And while your wedding rings may be covered by the policy, your engagement ring probably will not.
Every insurance policy from Farmers and every wedding scenario is different. Please give me a call and I would be more than happy to explain the details and specifics. It is my goal to make sure you understand every detail of your policy.
Farmers, through the Keene Agency offers event insurance to cover a wide range of special events that Weddings & Events by Raina plans including:
And MANY MANY More!