Whether you are planning a wedding reception overlooking the Minnesota River or a formal event in the city, it’s wise to protect your investment against the unexpected. An event involving hundreds of people, multiple locations, contracts with several small businesses and alcohol carries a host of risks.
There is simply no guarantee that one of your many wedding vendors won’t go out of business before you say “I do”—taking your deposit along. About one in three wedding insurance claims are related to vendors or venues going out of business, according to an industry survey.
Wedding insurance will cost less than a wedding photographer or reception DJ. When you consider the amount you’re investing in the big event, it’s worth the cost to protect it.
Event insurance typically includes cancellation coverage and liability insurance, which may be required by the venue to protect the hosts in cases of property damage or injuries to guests. Premiums are based on the total cost of the event, and you can add protection for specific things, such as flowers, photography, the gown or natural disasters. The wedding gifts and rings may be covered under personal property insurance included in your homeowners or renters policy.
Some events that may warrant insurance include:
If you are hosting a graduation party at your home, a neighborhood block party or a fundraiser at local park, you may want to be sure you have adequate insurance protection. Minnesota law may hold a host responsible for injuries caused by a drunk driver leaving the event.
Visit Travelers Insurance to get a wedding insurance quote.
Contact Weir Insurance at our Mankato or Edina office to discuss event insurance.