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Special Event Insurance Can Cover a Range of Issues

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Are you planning a special event, like a wedding, anniversary celebration or bar mitzvah? If so, you've likely had to pay several deposits to secure the right venue, order food and drink, and book the right professionals to make the event go off without a hitch.

But what if that picture-perfect venue goes out of business ahead of your date or the blushing bride-to-be changes her mind? Special event insurance is designed to provide financial protection against these and other unforeseen circumstances.

While it's possible with a little forethought to avoid common disastersduring your special event, it's a good idea to consider seeking coverage for the following:

Cancellation -- Protect yourself against cancellation due to unforeseen circumstances (or at least those your policy will cover). These typically include death, illness or serious injury of key participants in the event; some clauses even cover inclement weather.

Liability of Guests -- Special event insurance can cover you if guests cause injury or property damage. If you're serving alcohol, make sure a liquor liability clause is also added.

Vendor Default -- What if a service provider fails to show up on the big day? This can include a minister or rabbi, for example, or vendors such as a caterer, florist or photographer. Some special event policies will cover postponement or cancellation for these reasons.

Cold Feet -- Many special event insurance policies do not cover last-minute cancellation due to cold feet. If you want a little peace of mind, ask about a change of heart clause, which may reduce financial losses should an unexpected change occur. Cold feet clauses typically cover any deposits that would be forfeited in the event of a cancellation.