Event insurance - why it’s vital you think the unthinkable

In the midst of building your dream day – whether it’s a wedding, a birthday party or a corporate celebration marking a milestone in your business – no-one really wants to think about what could happen.

However, like other eventualities in life, sadly things can sometimes go wrong and it’s important to put yourself in the best possible position in case they do.

We don’t think twice about covering ourselves against unemployment, accident, sickness, home catastrophe and even death.

Yet, according to Brides magazine, the average wedding in the UK now costs just over £30,000 – the equivalent of a first home deposit – and too many people shy away from insuring themselves to recoup that money if things don’t turn out as they hope.

Think about it, in any other circumstances, would you be prepared to gamble that amount of money?

The obvious, and most frightening, potential issue for many couples, is cold feet resulting in them not actually walking down the aisle at all.

However, this aside, a wedding marks a coming-together of so many services and suppliers, the potential for something to go awry is multiplied. Not to mention acts of god and technical failure that no-one can predict, such as high winds, flash flooding and even fire.

• Wedding firms go bust – from dress makers to caterers
  
• Venues close down before the big day
  
• Freak storms and flooding damage venues, including marquees
  
• Key event protagonists suddenly taken ill
  
• Suppliers fail to turn up
• Wedding gifts being stolen
• Wedding rings getting lost
  
• Venues, including marquees, being damaged by fire or even vandalism when guests get a little tipsy.
  

There is a wide variety of wedding and event insurance to choose from, and the premiums are relatively modest and scalable, depending on the overall cost of your event. Some of the cheapest premiums start from around £25, up to a few hundred for a really large event. Compared to the tens of thousands it can cost to stage your celebration in the first place, this is a relatively small price to pay.

What many people don’t realise is that their liability could actually run into millions, because you are also responsible for the welfare of your guests, and therefore it’s absolutely essential to have public liability insurance included in your cover too.

1. Cancellation or rearrangement of your big day or event as a result of events beyond your control, such as the death or serious illness of a key wedding party member, a major issue affecting your venue or freak weather making it impossible for at least half your guests to make it
   
2. Supplier failure including deposit protection
   
3. Loss or damage of event equipment including marquee cover
   
4. Wedding rings
   
5. Wedding gifts
   
6. Wedding attire
   
7. Wedding cake
   
8. Photographers and video
   
9. Wedding flowers
   
10. Wedding transport
    
11. Excess
    
12. Wedding stationary
    
13. Public liability (leading policies offer up to £5m of cover for this important element of your event, should any of your guests be injured for any reason).
    

If you're inspired by what you've read and would like more advice on shaping your event, call us on (01262) 468160/07973 314769, or fill in the form below to arrange a free chat.