JAUNTIN’ is a leader in wedding event insurance solutions. By leveraging the JAUNTIN’ embedded insurance platform, the entire process of distributing wedding events coverage can be automated and reduced down to minutes and even seconds.
Need a wedding policy right now for a venue in the U.S.? Click here.
Wedding liability insurance is a critical part of any wedding and can protect both the couple and venue from unforeseen incidents that could lead to financial loss. Not a great way to start of a marriage. Unfortunately, wedding events insurance is painful to acquire, especially given all the other things that the couple needs to worry about like catering and decor.
Fortunately, wedding insurance is very affordable and easy to acquire within minutes, allowing the bride and groom to focus on other aspects of the wedding, while having peace of mind.
So what are the pain points?
For The Couple Getting Married:
Weddings are already stressful. Finding out from the venue that an insurance policy is required (especially at the last minute) can add further stress to the host. Furthermore, having to research and acquire a policy can take days, even weeks through traditional broker/agent channels.
Most importantly, in the insurance world there is a thing called the subrogation clause, which is defined as “a right held by most insurance carriers to legally pursue a third party that caused an insurance loss to the insured.” So in other words, wedding couples can be pursued by an insurance company for any losses they have caused. A very strong argument to spend $75 on a policy.
The JAUNTIN’ embedded insurance platform allows couples and wedding organizers (like wedding planners) to secure a policy within minutes. Need a policy now? Click here.
Weddings are a large source of revenue for millions of venues around the country. As part of the risk mitigation process for these venues, the venue (or their insurance company) require third party renters to secure their own insurance for the event. However, this requirement adds a large administrative burden on to the venue. Administrators need to follow up with renters to ensure they have secured an insurance policy with the right coverage. Also, ensuring that the venue is properly listed as an additional insured on the policy certificate is an additional burden.
The JAUNTIN’ embedded insurance platform allows venues to reduce the whole insurance process down to minutes. This also removes a large administrative burden from the venue so they no longer need to chase and reconcile which renters have provided proof of coverage.
All in all, the above pain points are solved by the JAUNTIN’ embedded insurance platform through its low and/or no-code options allowing for embedding in seconds.
Because wedding policies can start at $75, it is hardly worth the time and effort for brokers and agents. Policies can take days, even weeks to coordinate, making it inefficient to process wedding event policies. However, in order to maintain a strong relationship with venues, brokers and agents continue to (grudgingly) sell these policies and view these as a loss-leader for potential future business from the venue for larger business policies.
“Wedding events coverage is a critical coverage, however due to the nature of the product it is hard to prioritize as a broker. The JAUNTIN’ platform allows brokers to service these requests, while entirely reducing the amount of work needed to be done by the broker.” Rain T., Founder, JAUNTIN’
The JAUNTIN’ embedded insurance platform allows brokers/agents to distribute ongoing special events policies without having to do any processing. The platform automates everything so the whole process is done in minutes (or even seconds), reducing the time a broker/agents spends by over 99%. Find out how by contacting us.
Reasons coverage is needed
Why venues must offer wedding coverage.
At the end of the day, a general insurance policy is a requirement for any business. A single claim could lead to a business/venue losing access to affordable insurance options (or even leave it with no options at all). Venues that rent out their spaces for weddings can insulate themselves (and protect their insurance premiums) by requiring third party renters to secure wedding events insurance.
A simple indemnification clause in the renter’s agreement is not enough!
Why renters must get it.
Aside from being made mandatory from the wedding venue, a wedding events insurance policy can protect the renter/organizer from lawsuits and financial losses that results from accidents and injuries that occur during the wedding. It also provides peace-of-mind allowing the policyholder to focus on the event.
Not convinced? Consider these examples:
- Photographer’s camera bag with event pictures was stolen during the event. Hotel accused of failing to provide adequate security. Event Insurance paid $3,000 plus defense costs (legal fees).
- Venue held Rentee responsible for damaged carpet at reception. Event insurance paid $5,523.81.
- Wedding guest slips on rose flower. Event insurance paid $4,200.00.
- Groom while carrying his bride dropped her. Law suit against venue. Event insurance paid $12,250.00.
- A guest was injured in a fall on a slippery dance floor. Law suit alleged hotel provided improper dance floor. Event coverage paid – $2,500 plus legal fees (defense).
- A guest moved antique dining table and two table legs cracked. Claim paid by Property Damage coverage – $1,865.
- Pregnant x-girlfriend crashes wedding ceremony. Groom’s sister fights x-girlfriend. Venue, Wedding Planner, Groom/Bride sued. Damages alleged were $120,000. Event insurance settled for $15,000.
- Elderly guest tripped over electrical cord taped to the carpet. Event coverage paid $15, 245.06 plus defense costs (legal fees).
- Guest became intoxicated, killed himself and two others whilst driving home from the event. Law suit filed under Dram Shop laws to hold hotel responsible. Event insurance paid $775,000 plus legal fees (defenses costs).
- Hosts held responsible for damaged table top and other property damages. Event insurance paid by Property Damage coverage – $7,000
- Emerald ring stolen during wedding event. Hotel sued for negligent security. Event insurance paid $11,250 plus defense costs (legal fees).
- Gifts were stolen from trunk of car. Event coverage paid $1,088.
- Conventioneer slips on ice/snow at venue. Sues Convention organizers and venue. Event insurance pays $24,500.00.
- Fire damage to venue caused by rentee. Event insurance paid $24,365.60.
- Man sues venue for false arrest/wrongful detainment after crashing wedding reception. Event insurance pays nothing, but spends $55,000 in defense costs.
- “Silly string” sprayed on guests at birthday party caught fire causing second & third degree burns to several children. Law suit filed against rentee and hotel for $1,000,000. Event insurance settled for $135,456 plus legal fees (defense costs).
- Multiple claims filed against hotel for food poisoning. Event insurance paid $4,360.20.
- Fire loss to venue’s ballroom. Event insurance paid $7,000,000 paid for property damage and loss of business income.
- Guest being interviewed on stage during a convention had heart attack and died. Estate sued for damages alleging that the stress caused by the interview contributed to guest’s death. Event insurance paid policy limits $1,000,000 plus legal fees (defense costs).
- Protester files lawsuit against venue for wrongful detention and false arrest. Event insurance pays $10,000 plus defense costs (legal fees) in settlement.
- Earthquake during convention dinner caused suspended ceiling and lights to fall injuring several guests (some severely). Rentee and Hotel sued for $10,000,000 (Building contractor and architect weren’t sued because the Statute of Repose expired). Event insurance paid $1,000,000 policy limits. Hotel’s insurance paid $6,500,000 plus defense costs (legal fees).
Why brokers should continue to offer special events coverage.
Although a traditionally painful product to sell, it is now possible to automate the entire distribution of a wedding insurance policy. This allows brokers to maintain their relationships with the venue with no additional effort. Best of all, the commission is still paid to the broker making special events insurance a passive income source for brokers going forward.
Insurance for Wedding: Why You Need It
Do you need wedding insurance? It’s a question that many couples ask as they plan their big day. Weddings are expensive and can be ruined by something as simple as bad weather. That’s where wedding event insurance comes in. It can help protect your investment if something goes wrong.
So whether you’re worried about losing your deposit, the photographer not showing up, or the caterer not delivering, wedding event insurance can help you rest easy knowing that you’re covered. But is wedding event insurance essential? After all, it’s just another expense on top of everything else. And what are the chances that something will go wrong?
Unfortunately, those are precisely the types of thoughts that keep people from buying wedding insurance. They figure it won’t happen to them, or they’ll be able to handle it if it does. But what happens if something does go wrong and you don’t have wedding insurance? You could lose your entire investment!
Wedding event insurance may seem unnecessary, but trust us – it’s worth it!
What is a Wedding Event Insurance?
Wedding event insurance is a type of insurance designed to protect couples from financial losses if their wedding is canceled or postponed due to unforeseen circumstances. The policy may also cover lost deposits, photography and videography fees, rental costs, and other expenses.
While wedding event insurance is not required, it can provide peace of mind if something goes wrong. For couples planning a destination wedding, wedding event insurance is critical as it can help cover travel and accommodation expenses if the wedding is canceled due to weather or other circumstances beyond their control.
The Benefits of Wedding Event Insurance
Wedding event insurance can provide coverage for a variety of unforeseen events, including:
Coverage for Cancellation or Postponement
Wedding event insurance can provide coverage if your wedding needs to be canceled or postponed due to an unforeseen circumstance, such as bad weather, a vendor backing out, or an illness. This coverage can help reimburse you for non-refundable deposits or expenses you may have incurred.
Coverage for Lost Deposits
Wedding event insurance can provide valuable protection if your wedding needs to be canceled or postponed. This coverage can help reimburse you for non-refundable deposits or expenses you may have incurred, such as venue rental fees, catering costs, or photography services.
Wedding event insurance can also help cover expenses incurred to reschedule your wedding, such as airline change fees or hotel accommodations.
When selecting a policy, choosing one that will provide adequate coverage for your specific situation is essential. Wedding event insurance can give you peace of mind in knowing that you are protected against unforeseen circumstances disrupting your special day.
How Does Coverage for Lost Deposits Work?
If you need to file a claim for lost deposits, you must submit documentation to your insurance company showing that you paid a deposit to the vendor and proof that the vendor did not deliver on their services. Once your claim is approved, you will be reimbursed for the amount of the deposit that was lost.
Is There a Limit to the Amount of Coverage Available?
Most wedding event insurance policies limit the coverage available for lost deposits. This limit is typically between $1,000 and $2,500. If you have paid deposits that exceed this limit, you may need to purchase an additional policy or rider to cover the total amount.
Coverage for Damages
Wedding venues are popular for couples who want to celebrate their special day in a beautiful setting. But before you book your dream venue, it’s essential to ensure that you’re adequately protected in case of any damage. That’s where wedding venue insurance comes in.
This type of insurance can cover damages during the wedding, such as damage to the venue or the rental equipment. This insurance for wedding venue coverage can help reimburse you for any expenses you incur in repairing or replacing damaged items.
So before you sign on the dotted line, ask about wedding venue insurance to help ensure that your big day is as perfect as possible.
Coverage for Liability
Regarding wedding event insurance, one of the most important things to understand is liability coverage. This coverage can help protect you from any legal liability that may arise from an injury on your property or at your wedding.
What Is Coverage for Liability?
Liability coverage is insurance that helps protect you from legal liabilities that may arise from injuries on your property or at your wedding. This coverage can help cover medical expenses, damages, and even legal fees if someone decides to sue you.
Why Do I Need Coverage for Liability?
No matter how well you plan your wedding, there’s always a risk of going wrong. If someone is injured during the wedding, you could be held liable for their medical expenses, lost wages, and even pain and suffering. Having coverage for liability can help reduce the financial burden if someone is injured at your wedding.
How Much Coverage Do I Need?
The amount of coverage you need will depend on several factors, including the size of your wedding, the location, and the activities that will take place during the wedding. It’s a good idea to speak with an event planner or insurance agent to determine how much coverage you need.
Peace of Mind
Wedding event insurance protects you from monetary loss due to unfortunate events that might happen before, during, or after your nuptials. It covers a range of possible dangers, such as weather damage and vendor cancellations, as well as the company in the occurrence that you have to reschedule your wedding.
Wedding event insurance is not legally required, though it can give couples peace of mind. If you are planning a wedding, discuss with your insurer whether or not this type of coverage makes sense for you.
Scenarios When Wedding Event Insurance Is Helpful
- Marcus and Jenny spent months planning their outdoor dream wedding, but just a week before the big day, they received news that a massive storm was headed straight for their venue. Without wedding event insurance, Marcus and Jenny would have had to reschedule their wedding or absorb the cost of any damage caused by the storm. But because they purchased wedding event insurance, they could receive reimbursement for any expenses incurred due to the storm.
- Another couple, Tom and Sarah, had planned a destination wedding in Mexico. The week before the wedding, Tom’s job required him to relocate to another country, and they were forced to cancel their plans. With wedding event insurance, Tom and Sarah could receive compensation for non-refundable deposits and travel expenses.
- Lastly, Jim and Mary hired a highly recommended caterer for their wedding, but the caterer failed to show up on the big day. Without wedding event insurance, Jim and Mary would have been left scrambling to find a last-minute replacement or foot the bill themselves. However, because they had wedding event insurance, they could receive reimbursement for finding a new caterer.
As these scenarios illustrate, wedding event insurance can provide financial protection in the case of unexpected events that may disrupt your special day. Don’t let unforeseen circumstances ruin your happily ever after – consider purchasing wedding event insurance for added peace of mind on your big day.
What Are the Chances That Something Will Go Wrong?
In reality, no one plans for something to go wrong on their wedding day. But unfortunately, it does happen. Almost half of couples said they experienced an issue or problem on their wedding day.
From weather-related problems to vendor issues, unexpected events can result in financial loss without insurance coverage. Wedding event insurance can provide peace of mind and protection from these potential losses.
How to File a Claim With Your Wedding Event Insurance?
If you need to file a claim with your wedding event insurance, it is essential to:
Understand Your Policy
Understanding your policy is the first step to filing your wedding event insurance claim. You will need to know what type of coverage you have and what is included in your policy. Additionally, you will need to know the limits of your coverage and any exclusions that may apply.
Once you clearly understand your policy, you must gather all the necessary documentation. This may include a copy of the police report, if applicable, as well as receipts, invoices, and other documentation supporting your claim.
Contact Your Insurance Company
The next step is to contact your insurance company and notify them of the situation. You will need to provide them with all the documentation you have gathered and answer any questions they may have.
Submit Your Claim
After you have notified your insurance company, you will need to submit your claim. This can typically be done online or by mail. Once your claim has been submitted, it will be reviewed by an adjuster who will determine if you are eligible for benefits.
Keep Track of All Communications
Throughout the claims process, keeping track of all communications with your insurance company is essential. This includes any phone calls, emails, or letters that are exchanged. Keeping a record of these communications can help ensure that your claim is processed promptly and efficiently.
Tips for Avoiding Problems at Your Wedding
In addition to purchasing wedding event insurance, there are steps that you can take to prevent problems at your wedding. This may include thoroughly reviewing contracts with vendors, creating a backup plan in case of inclement weather, and securing all personal belongings.
- Review all contracts with your vendors ahead of time. Ensure you understand what is included in each service and the cancellation policies. This will help avoid any misunderstandings or surprises down the road.
- Have a backup plan in case of inclement weather. No one wants their outdoor wedding ruined by rain or snow, so it’s essential to have a contingency plan. Whether renting a tent or reserving a room at the venue, take the time to plan, so you’re not left scrambling on your big day.
- Secure all of your personal belongings. This includes your rings, gown, invitations, and other essential items. Once everything is locked away safely, you can relax and enjoy your wedding, knowing that your valuables are taken care of.
Wedding event insurance can protect you if something goes wrong on your big day. However, preventive measures and reviewing contracts with vendors are also essential to avoid potential issues.
By accepting these precautions and purchasing wedding event insurance, you can ensure that your special day runs smoothly and is truly unforgettable for all the right reasons.
Alternatives to Wedding Event Insurance
In addition to purchasing wedding event insurance, there are a few alternative options for protecting your investment.
- One option is to pay for your wedding expenses with a credit card that offers purchase protection. This can cover specific items if they are damaged or stolen.
- Another option is to create a contingency fund and set aside money in case of unexpected problems or expenses.
- Finally, you may consider signing contracts with vendors that include cancellation policies and liability clauses.
While these alternatives may not provide the same level of coverage as wedding event insurance, they can still offer some peace of mind on your special day.
Wedding event insurance may seem like an unnecessary expense while planning a wedding. However, it can provide invaluable protection and peace of mind if something goes wrong. The wedding insurance cost is significantly less than the potential financial losses without it.
When shopping for wedding event insurance, it is essential to carefully review the policy and ensure that it covers all potential risks and expenses. It is also vital to purchase the insurance early in the wedding planning process to ensure that you are covered from the start.
Wedding event insurance policies typically cover cancellation, postponement, and rearrangement of the wedding due to unforeseen circumstances such as severe weather, illness, or vendor problems. The policies may also cover loss of deposits, wedding attire damage, wedding gifts, and photography/videography fees.
In some cases, wedding event insurance can also cover accidents during the wedding or reception. Policies vary significantly in terms of what they cover and how much they cost. It is essential to carefully review each policy to ensure that it meets your specific needs and budget.
While there is no definitive answer as to whether or not you need wedding event insurance, there are some factors to consider when making your decision. If you are concerned about losing any money paid out in deposits if you cancel your wedding, purchasing a policy that covers cancellations may be a good idea.
If you are worried about severe weather disrupting your plans, then a policy with weather protection may give you peace of mind. Ultimately, whether or not you purchase wedding event insurance is a personal decision based on your needs and concerns.
Wedding event insurance can be a valuable way to protect yourself financially if something goes wrong with your wedding plans. Carefully review each policy before ensuring that it meets your needs and budget.
The JAUNTIN embedded insurance platform can help ease your search for the best wedding event insurance policy. Remember, it’s always better to be safe than sorry on your big day. Protect your investment with wedding event insurance. Reach us to learn more and start comparing policies today.