Wedding Liability Insurance - A Small Premium For Peace Of Mind
You have heard of life insurance, accident insurance, sports insurance and vehicle insurance policies. You may be aware of a couple more. But have you ever heard about wedding liability insurance? Even if you have, you may not be having a clear idea about what it is all about.
In these days of rising prices and increased standards of living, the cost of a formal wedding is also assuming astronomical proportions. In USA the average cost is around $20,000 while in UK it is nearly £10,000. Unforeseen events can cause breaking up of the possible wedding, or such events may be postponed. Events, such as weddings, may result in loss of thousands of pounds, paid in advance to the wedding arrangers. The amount paid in advance is ordinarily forfeited in such cases, or part thereof and you may sustain a huge loss.
It may not be a man made deferment of the event. At times the nature might be the cause, with uneventful natural calamities. This may include a hurricane, a thunder shower, a tsunami, flood, and such incidences on which man has no control what-so-ever. A fire may cause loss of life and huge property at any time. You need an appropriate accident policy.
Against such exigencies, which leave you with financial losses, as well as peace of mind, wedding liability insurance is perhaps the best solution. You pay a relatively small amount as an annual premium, which could be ordinarily under £100. With this small investment, much can be saved on the huge expenses incurred for the occasion. Some of the providers protect the customer with a specific set of coverage. Optionally, additional premium can be added to raise the amount of compensation. It gives protection to even a loss or damage up to £5,000. Some of these insurance policies offer cancellation coverage for non-refundable deposits. The wedding liability insurance, which is an accident insurance, also covers you against personal liability for bodily injury, or property damage, sustained during the wedding or reception. Many of the hired reception halls have their liabilities covered, but insist on further insurance coverage. The additional liability coverage is ordinarily in the range of £500 to £1,000. This accident insurance policy, also covers the costs for the wedding photography, and, at the same time, offers the cost of a replacement photographer, if the one engaged does not turn up. The insurance cover extends to compensate for any camera damage, and any gift loss or like damages are covered as well. Other optional coverage consists of losses and damages of wedding attire and any rented items. Before buying a wedding policy, you are advised to check your own policy as well as your home-owner's policy if you are staying in a rented house. It may so happen that you are already covered for the damages mentioned in the wedding liability. But most of the times such coverage would be less than what you require. Some of the items that are not covered by the wedding liability policy are change of heart, foul wedding cake, imperfect party, or damage due to rain, if you should be holding the party outdoors. While the premium ordinarily happens to be around £100 to £150, it may substantially go up, depending upon the additional features that you would require the policy to cover. In case of a claim, the onus lies on you to prove that you are insured, and the damages occurred not due to your fault, and they were beyond your control. However, despite these shortcomings, the wedding liability policy has paid good dividends to many, and is a quite popular plan.
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