Wedding Venue Insurance | What Does It Cover and How Much Does It Cost?

We all know how stressful planning a wedding can be. The biggest focus is usually on the wedding venue. We want to make things seem perfect as this is our special day for which we have planned for our whole lives. However, disasters are inevitable due to mismanagement or miscommunication on such days. Despite our best efforts, we cannot be too sure what things may or may not go wrong. 

Whether you are the one who is getting married or are a venue catering for or planning the big day, it is important to consider the what-ifs and prepare for these hiccups.

How can you do that? The best thing to ensure is you do not find yourself vulnerable to any financial losses that may occur if the wedding doesn’t go as planned and the best way to do this is to get wedding venue insurance. Read on as we discuss how this insurance policy works. 

Landlord Property Protection 

As a bride or a wedding venue, you would like to guarantee that the big event goes perfectly without a hitch. However, that does not happen at times. During the midst of wedding chaos, a lot of things can go wrong. Hence it would help if you secured yourself against unforeseen circumstances that can otherwise be very daunting. The major events that can become serious here are bodily injury or property damage on your big day.

If you are a wedding venue or a bride or groom, you need to understand that insurance is expected of you, and you need to look into your options. 

But what is wedding venue insurance? Simply put, wedding venue insurance covers venue liability. Suppose a venue is responsible for damage to property or has caused bodily injury to another due to their omissions or recklessness. In that case, the liability policy ensures that they are protected against these claims, and when these lawsuits arise, the liability helps the venues with a payout.

What Does Wedding Venue Insurance Cover?

There are a few things wedding insurance covers. As someone getting married or is a venue planning a wedding, you must know your options to protect yourself before you spend time and money on the wedding. Know your options to get the best plan for yourself.

Personal Injury

There are so many hazardous things at the wedding venue that one does not even realize. It could be with anything, and most importantly, it can be due to the venue's equipment. For example, someone may just trip over a floral arrangement that became loose and fell to the ground. Or a child got an electric shock because of the electrical wiring your venue placed. There may be a need for medical intervention in such cases, and the venue Insurance covers any medical expense or damage that results from a bodily injury or a lawsuit.

Property Damage

While working on the wedding venue, you may end up damaging the property. This damage could be both big or small and include food spills, stains on the sofa or rug, or a glass or ceiling breakage due to setting up the equipment. In some cases, there may be a fire when venues are trying to set up the food stall.

In such circumstances, you must always cover the cost of repairs. Wedding venue liability will come in and save the day here. If you happen to get sued due to the damage caused, your plan will cover the cost of your defense and the damages you have to pay up.

Employees

The best thing about wedding venue insurance liability is that it also covers your employees. Whoever is working on the big day gets to be covered; hence if one of your employees is facing medical issues as a result of an injury, then they are covered under this plan. It would help if you did everything to minimize your costs and legal exposure.

Equipment

If you are a wedding planner, you will have expensive equipment that you will use to provide your services to the bride and the groom. Taking your valuable items to the wedding venue without insurance means you are taking a big risk because they can either be stolen or severely damaged. 

What do you do then? You can not replace your equipment yourself after every wedding you plan, and hence you must shop for the right wedding insurance plan that offers equipment coverage too. Although you may be required to pay a deductible, this option will ensure that you get a payout for equipment replacement costs, which can be huge, especially if you are a videographer, photographer, or musician.

Why Do You Need Wedding Venue Insurance?

Most wedding venue clients require that you show them proof of insurance. This is because they want to protect themselves and you from any liability, loss, or damage that can happen at the wedding venue. If you do not have one, it will seem like you are just starting and will lose business if a future client really wants an insurance coverage plan. Hence it is not just risky not to be covered, but it is also not professional not to have one.

How Much Does It Cost To Get Wedding Venue Insurance In Mexico?

Venue insurance costs can vary depending on the length of time and features in the policy. You can avail of a one-day event insurance coverage as well as multiple-day events. So if you are getting insurance on behalf of your venues for one or two-day wedding events, you can get your requirements anywhere between $100 to $200.

However, if you are looking for multiple event insurance plans, your coverage will make your premium go up or down; hence, it is important to focus on how much coverage you need. Premiums can go as high as $75 per month and go up to $200 per month, a super small price for the protection wedding venue insurance provides to you and your business!