Wedding Insurance
Filed under Expert Advice, PlanningNowadays, if someone gets injured at an event or something is damaged at or near the event site, it’s likely that someone will be sued.
In order to protect themselves and spread the risk among all parties involved, facilities have begun to require additional insurance and/or proof of insurance from service professionals and their clients.
Event sites and service professionals (such as caterers) are very aware of their potential liability and all have coverage of one kind or another. A few years ago, less than 10% of the facilities we represent required the “renter” to obtain extra insurance coverage. Now, more than a third of our sites require it. That’s a remarkable increase, and this trend will probably continue. The bottom line is that a large chunk of the properties we represent will require you, the renter, to get extra insurance.
What’s funny (or not so funny) is that as more and more event sites require extra liability and/or a certificate of insurance, fewer insurance companies are willing to issue either one—even if you’re covered under a homeowner’s policy. At this point, insurance carriers don’t want to attach extra clauses to your policy to increase coverage for a single event, and most, if not all, companies are unwilling to add the event site’s name to your existing policy as an additional insured.
Don’t despair. Even though it’s hard to come by, you can get extra insurance for a specified period of time, and it’s relatively inexpensive.
Obtaining Extra Insurance
- The first thing to do is read your rental contract carefully. Make sure you understand
exactly what’s required and when it’s required. Most facilities want $1,000,000–2,000,000 in extra liability coverage. If you don’t pay attention to the insurance clauses early in the game, you’ll have to play catch-up at the last moment, frantically trying to locate a carrier who will issue you additional insurance. And, if you don’t supply the certificate to the facility on time, you may run the risk of forfeiting your event site altogether. - The second thing is to ask your event site’s representative if the site has an insurance policy through which you can purchase the required extra coverage. If the answer is yes, then consider purchasing it—that’s the easiest route (but not necessarily the best!). The facility’s extra insurance coverage may not be the least expensive and it may not provide you with the best coverage. What you need to ask is: “If one of my guests or one of the professionals working at my event causes some damage to the premises or its contents, will this extra insurance cover it?” If the answer if yes, get it in writing.
- The third thing, if the answer is no, is to find your own coverage. We suggest you avoid the Yellow Pages and call:
R.V. Nuccio & Associates, Inc. at 1-800-ENGAGED or www.rvnuccio.com. They specialize in insuring special events, and can send you a brochure detailing what’s offered.
Coverage starts at $195 per event and goes up; the total cost will depend on what you want. Rob Nuccio’s coverage is underwritten by Fireman’s Fund.
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