Clarissa and I were married on Saturday October 13, 2007. It was the perfect October day. A crisp, slightly chilly morning that was bursting with sunshine followed up by an absolutely perfect afternoon. We could not have asked for a better day.
Luckily we decided to have our big day in the Fall and not the Winter. About two or three weeks after our wedding we were watching the news. The restaurant where we had our reception had closed their doors. There were at least five or six families being interviewed who had given thousands of dollars in deposits to the owner. One girl was supposed to have her wedding there within the next few weeks.
That restaurant remains closed and has now been taken over by trees and bushes.
Wedding Protector Plan
Here’s how a Travelers Insurance Wedding policy works.
You choose a Level of Coverage. From Level 1 to Level 10. The Level you choose is based on how much you think you will be spending on the wedding. When deciding, be sure to include the major expenses for the reception including the use of the facilities, attire, photographer,videographer, flowers, music, etc.
Level 1 starts at $7,500. Level 2-$15,00, Level 3-$25,000, Level 4-$35,000. Level 5 is $50,000 and from there the levels increase by $25,000 all the way up to Level 10-$175,000.
If the wedding is cancelled due to a scenario like the one described above, there is a good chance the policy would provide coverage. There are some exclusions though and don’t expect your luck to change if your princess leaves you standing at the alter. There is no coverage if someone backs out.
You can add an endorsement to the policy that provides up to $1 Million for Liability coverage. Say a person gets food poisoning due to under cooked chicken at your wedding reception. This endorsement would provide coverage. Now say 150 people get food poisoning!!
Now you see why a wedding policy is a good idea. Sure most if not all of those people will go after the venue but make no mistake about it, many of your guests will look to collect from the newlyweds as well.
Property Damage coverage is also included in this endorsement. You can select $25,000, $250,000 or $1 Million worth of property damage coverage. If any of my friends are reading this I would recommend the higher limits. I know your guests and trust me, they can cause some serious damage. Which brings me to the last aspect of a Wedding Protection Plan. Liquor….
The Liquor Liability endorsement can help get the Named Insured off the hook in the event that there is an issue involving a guest due to alcohol. There are a few exclusions where coverage could not be offered but they are geared towards a person in the business of selling alcohol, distributing alcohol, manufacturing alcohol, etc…. This endorsement could cost as little as $50 (1-150 guests) or as much as $125 (351-400 guests).
Buy this endorsement.
Wedding Policy Quote
I did a quote for a couple earlier today. They are having a reception with 150 guests. Their facility is requiring that they have a policy that includes liquor liability. Here is the quote that I gave to them…
Level 3 Core Coverage–$255 + Liability Coverage–$180 + -Liquor Liability Coverage–$50.
Total policy premium—-$485.
For a couple that’s going to drop twenty-five thousand dollars on a reception this is a no brainer.
Contact your agent to discuss the policy that your insurance company offers. Rates and coverages may be different depending on carriers.
Your wedding will be here before you know it and it will absolutely fly by once it’s here. Make sure you HAVE FUN!!
And most importantly, at some point after your honeymoon, read this post along with the great comments. It may save some brutal nights after the newlywed stage runs it course.