I am trying to decide if event insurance is necessary for daughter’s small wedding.
Input would be most appreciated!
Thanks!
If it was me it would depend on several things:
How much it costs vs the cost of the wedding
What it covers exactly
Do vendors have their own insurance
It seems to run about $250. You can choose which things you want covered and for which amounts.
Although the vendor has their own coverage, it seems that the venue could hold you responsible for damages done to their facilities by your attendees, so that would be something I would be concerned about. Then there is coverage for gifts that are stolen and all kinds of other scenarios.
Does it cover liability if a drunk guest injures him/herself or others? That would be a major selling point for me.
If it buys you piece of mind, it might be worth the $250. Hopefully, some parents of recent newlyweds will chime in and give their opinions/experiences.
The drunken guest scenario seems to be included with the liability policy. Yep, that is a major concern.
Goskid (8/2017 wedding) has wedding insurance because…
An acquaintance had put deposit and payment for venue and catering three months before her big, fancy wedding. Shortly after check cashed (I believe it was > than $25K), the facility and caterer abruptly went out of business. An attorney told her it wouldn’t be worth it to sue, as the business probably had lots of creditors in line, plus attorney’s fees…she would not be getting anything back. And she had no wedding insurance… 
Wedding insurance covers things like a photographer, caterer or band/dj no show; if wedding is cancelled due to illness or death of immediate family member or wedding party; if a venue has fire or weather damage and wedding needs to be moved, etc. It does NOT cover a change of heart…
We felt relatively inexpensive, considering how much will be spent…ymmv.
My daughter is getting married in 9/2017. The contract she and her fiance signed with the venue requires them to have liability insurance, which they will have to buy. I believe this is common. I’m not sure whether they will also choose to get the other kinds of insurance.
We aren’t getting it, but the fiance’s parents own and run the venue.
This is a good idea because a lot could happen.
If you are talking about liability insurance, there may be an endorsement available for your homeowners insurance that would cost much less than $250. This would cover if someone gets hurt, but it would not cover if the caterer fails to show or the venue abruptly closes down, etc.
We got event insurance just for the rehearsal dinner. The nominal amount seemed worth it to protect us should someone do damage to the venue or the liability should a guest drink too much.
When we were married 3 decades back, no insurance for anything. We had a huge wedding – everything turned out fine–everyone showed and did what they had contracted to do, no one was injured. Total cost of wedding was very expensive–would have considered insurance if it had been mentioned and was reasonable.
Doesn’t this assume that the homeowner is the one who signs the contract with the venue? That may not always be the case. The bride and groom may sign the contract, and often they are not homeowners.
They should have renter’s insurance and have a rider for liability. I have advised D1 to have appropriate liability insurance relative to her net worth and income. Insurance companies will defend you up to the amount of liability insurance you have with them.
We preferred having the separate policy because, if there was a claim from the rehearsal dinner, we didn’t want it affecting our HO’s insurance, both renewability and premium.
We should have a new thread called, “Wedding Nightmares.”
Just read a story locally about a mother of the bride who collapsed the day of the wedding and was taken to the hospital where she later died. The wedding was obviously postponed. While the venue agreed to allowing them reschedule for another day (free!), everything else was already prepared and is now money down the drain. This made me realize the need for insurance as my own kids start nearing that stage of life. https://www.ksl.com/?sid=41645841&nid=148
@sonssecty -Here you go.
http://talk.collegeconfidential.com/parent-cafe/1794911-wedding-disasters-p1.html