Hurricane Irene spurs growth in wedding and event insurance

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Wedding InsuranceWhen Hurricane Irene made its way up the East Coast of the United States, it destroyed homes and businesses, ripped up trees, downed power lines, and disappointed many who had been preparing for important events such as weddings.

The majority of couples who had intended to get married during the week of August 28, 2011, were forced to either cancel their weddings or at least postpone them until a later date. Hurricane Irene made the risk of this type of unforeseen event quite real to many other couples who have own weddings coming up.

Aside from bringing huge disappointments to couples who had high hopes for their special day, this can also take a significant toll on their finances, as cancelled or changed wedding dates can lead to the loss of sizeable deposits that are non-refundable.

This fact has caused many couples – as well as individuals and groups holding other kinds of events – to consider event or wedding insurance.

Lisa Kozik, a claims manager, said that a number of her policyholders who live in New York, North Carolina, and other states that were affected by the hurricane, were required to postpone or cancel their weddings. She explained that “Had they not invested in a Wedding Cancellation Insurance policy, they would have been responsible for any expenses associated with those changes.”

Event insurance such as wedding insurance offers general liability coverage for the specific event. It can be purchased by consumers such as couples holding a wedding, or by professionals such as wedding planners. They can include many forms of coverage that range from cancellation to liquor liability.

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