Everything You Need to Know About Wedding and Special Event Insurance.

• Author: Chiu, Victoria

Wedding and special event insurance is a special kind of cancellation insurance that can protect you if your event goes awry.

When you're thinking about planning a big event--whether it's a wedding, huge birthday bash or blowout retirement party--no one wants to think about cancellations or other disasters that could throw things off course. That said, when you're putting a lot of time and money into planning an important event, it's smart to consider what you can do to protect yourself if anything goes awry. That's where wedding (and other special event) insurance comes in!

What is wedding and special event insurance?

It's commonly called "wedding insurance" because this kind of insurance is usually used for weddings. However, the full name is "wedding and special events insurance," and it can cover all kinds of occasions. In short, it is a special kind of cancellation insurance that people sometimes get for large, expensive events. Cancellation insurance covers the money you have spent planning the event. Like other kinds of insurance, wedding and special event insurance helps protect you from circumstances you can't control. For example, if your wedding has to be cancelled or postponed, or something throws it off course, wedding insurance reimburses you for any money you've put into planning it up until then.

Many venues require liability insurance from people hosting an event in their space. This covers any liability you might incur during the actual event and is different from cancellation insurance.

Why get special event and wedding insurance? What kinds of special events need insurance?

You might consider wedding insurance to safeguard against potential money-losing situations.

For example, let's say unforeseen circumstances out of your control force you to postpone your wedding right before it's scheduled to happen. If you've already spent a lot of money on planning your wedding, a forced postponement could potentially mean losing out on thousands of dollars depending on your agreements with your vendors. If you have wedding insurance, however, you can get back all the money you've put into your wedding.

Another example many couples have become all too familiar with this past year is that of a worldwide crisis. If a situation like a global pandemic breaks out during your wedding planning process, you might be forced to postpone or cancel entirely. This can be a huge hassle for folks who have already put money down on venue deposits...