FYI Friday: Insurance

Many clients are confused about the type of insurance that they will need for their big day. There are a lot of products available to newlyweds and the most common are wedding insurance and special event liability insurance. Here's a little run down on both types: Insurance Wedding insurance protects against losses due to extreme weather, illness and/or either party experiencing a sudden change of heart. This can recoup monies paid to vendors if your wedding is postponed or cancelled  and should be considered by couples planning a destination wedding or a celebration in a non-traditional  location. This product costs about $500 and is available through Travelers Ins., Fireman's Fund and WedSafe.

Liability insurance protects you (and certain vendors like catering and venue) from claims arising from accidents taking place during the wedding, reception and rehearsal. Most venues require that you name them as an additional insured on a minimum $1,000,000 liability policy with a liquor liability policy. You can get this through your homeowners insurance or regular liability insurance provider as a single day increase in policy or you can go through a private companies like WedSafe. You'll want to provide proof liability insurance when you make final payments to the listed vendors.