Most people think about ensuring their large vacation trips and their health and death. Many neglects insuring large events that may cost just as much as a mini-vacation that you would insure. Pay attention to these tips and be prepared for anything you sign regarding event insurance in the future.
Ever known anyone that cancelled their wedding? I think we all do, things happen and things change. Plus, weddings have to be planned far enough in advance that accidents or issues may arise. Consider wedding event insurance. If something happens (make sure you read the fine print) and your wedding is cancelled, they will cover your non-refundable deposits. They also cover insurance for any accidents that may occur while guests are at your wedding. There could also be damage that occurs at the venue of your wedding. You will want insurance that protects you from having to pay for the damage that was incurred during your rental timeframe.
What is not Covered with Weddings
Insurance can be obtained on a cancelled wedding for unforeseen circumstances, including inclement weather, accidents, illnesses, and military deployments. This does not include a change of heart; in that case, you are on your own. However, if you qualify for one of the covered expenses, you can obtain a refund on your deposits, the photographer will be paid, jewellery and attire are covered, wedding gift replacement, and even counselling if you are suffering emotional damage from the cancelled wedding. Your particular coverage will need to be determined through your provider.
The Cut-off Date Before the Event
Ensure that you have filed your contract with the insurance provider prior to their cut-off date. Most insurance companies have a specific time period prior to your event and then they will not honour insurance. This means you must plan ahead and prepare for this protection.
Check your deductible
Many times the deductibles are very reasonable, but if you are purchasing liability event insurance the deductible is usually up to $1,000. Be prepared to pay a separate deductible for each different component of the event.
Many insurance plans include for accidents; however, the clause states that if the illness was a pre-existing condition they will not cover it. So, if your father walks down the aisle and has a heart attack, your wedding insurance may not help if your father had heart blockage or high cholesterol. So, make sure to read up on the fine print of your contract.
All U.S. locations are covered, but be certain that if you go out of the United States that you are covered. There are only a few countries that these event insurance programs are even honoured at, so check before you start making plans.
Check the Gift limit
The gift limit if your wedding presents are stolen or lost the actual presents are covered, but cash is only covered up to a certain amount in your contract. Your level can be as low as $300, so make sure you are prepared to lose in that arena if guests leave cash.
Check the claims process
Check out the website and how they accept claims for events. You want it to be as seamless as possible and you also want to ensure you are covered properly for your particular event.