Events by Divine Creations | All posts tagged 'event insurance'
Events by Divine Creations

Down Economy + Bankrupt Business = Nupital Nightmares

by Valerie DiVecchio 12. August 2009 12:07
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Recently there was an article on Angie's List that highlighted some couples across the country that were out major bucks due to companies going out of business.  The interesting part about this story is that out of all of the couples who were interviewed for the article, not one had a wedding planner.  Dena Davey, a spokesperson with The Association of Bridal Consultants was quoted as saying, "you can enjoy your wedding because a professional with the proper credentials will be able to see something coming that a bride might not".  Planners are a very close-knit group and the word gets around about shady and shaky vendors.

A few years ago there was a highly respected photographer in the Tampa Bay area that ran into some big trouble.  At the time I had one wedding client who had booked him and paid the deposit.  For months, I tried to track him down, get straight answers, spoke with other professionals in the area and had that never ending gut feeling that said "we need a Plan B".  I spoke with my client and advised her that I thought we should go ahead and terminate the contract, interview other photographers and book someone else for her wedding.  She could always take him to small claims court and try to get her money back.  Good thing we did because about two months after her wedding there was a big news story locally exposing this photographer and about 60 brides who paid the entire amount of their contract and did not get a single picture from their wedding day.  Huge scandal, major lawsuits and even bigger heartbreak.  That's one milestone in life that is just impossible to recreate.

Also quoted in the article was Kyle Brown, the executive director of the Bridal Association of America.  "You're going to pay a little more for experience, but how can you put a price on peace of mind?".  I couldn't have said it better myself.

On top of hiring a professional wedding planner, consider wedding insurance.  Typical policies can cover everything from a no-show vendor (or one that does show but fails to product the product) to family members being stuck at the airport to companies that you have secured (and paid for!) that go bankrupt due to the worsening economy.  Here in Tampa, the average wedding probably runs about $25,000 - what else do you own for that amount of money that you don't have insurance for?

Here Comes the Rain!

by Valerie DiVecchio 5. June 2009 13:28
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As we all know, hurricane season started this week.  As for me, I'm very thankful we've been having some rain (my lawn was starting to look like straw with the City's sprinkler ban!)... as long as Mother Nature keeps it dry on the weekends.  But as much as I do my rain dances to keep the rain away when I have events, for some reason they don't always work!  That's when insurance comes into play.

If you're looking for a great deal in Florida, you look at our summer months to hold your special events.  Obviously there is some risk associated with that.. the two "H's" - heat and hurricanes.  With the heat, you can't do much about it - except turn up the air conditioning and stay inside.  With the hurricanes, well, you can't do much about those either except pray that they go somewhere else and get some peace of mind by purchasing event insurance.  These insurance policies, depending on the level you select, will usually compensate you for money lost if your venue closes due to an evacuation and the event has to be cancelled or postponed.  In addition, you can also purchase liability insurance which offers protection regarding alcohol-related accidents, property damage, bodily injury, as well as insurance for those venues that require you to have it just to hold your event there.

I highly recommend event insurance to my clients, particularly if they are having their event during the summer months, but it's not a bad idea to have anytime.  Often you will receive the best quote through your homeowner's insurance, but if they do not offer it you can try: www.wedsafe.com or Traveler's Insurance.  It's just like health insurance... it's a good idea to have it, you just hope you don't have to use it!

Oh No... Here Comes A Hurricane

by Valerie DiVecchio 31. August 2008 10:52
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Let's face it, we live in paradise here in Florida, but along with the reward comes some risk.  We Floridians know that as hurricane season.  TS Fay decided to visit us recently... three times.  And now Gustav is heading up the Gulf and Hanna is hanging out in the Caribbean waiting to make her move.  So does that mean you shouldn't have a special event planned anytime from June to November?  Not necessarily, but event insurance is something you should definitely consider.

Event insurance comes in many different levels of coverage.  There is event cancellation or postponement that covers deposits and payments made if the event cannot take place or if you must postpone and the vendors you selected are booked on the date you rescheduled it for already.  There is also general liability insurance which some venues require you to have if you hold your event in their facility.  Art museums are a good example that require insurance.

Some individuals are able to get event insurance through their homeowners insurance company so that's a great first place to start.  There are also other companies who specialize in this type of coverage like www.firemansfund.com; www.onedayevent.com; www.eventinsure.com; www.privateeventinsurance.com; and www.wedsafe.com.

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Valerie DiVecchio Valerie DiVecchio

President
Divine Creations

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