The complete guide to wedding venue insurance

Here comes the bride. And here come some massive risks for your wedding venue. It can be a lucrative business being part of the happy couple’s biggest day. But if things go wrong, you could find yourself facing some massive bills. Luckily, you can protect yourself with wedding venue insurance. From cancellation cover to pay the legal fees if someone gets hurt, we explain what wedding venue insurance you need and how to get it at the best price.

What sort of wedding venue do you have?

Wedding venues come in all shapes and sizes. From historic castles and beachside cafes to barns and private homes, you can hold a celebration almost anywhere.  As a result, wedding venue insurance comes in all shapes and sizes too.

Maybe weddings are just one of many different events your venue will cater for. Or maybe one or two weddings a year are the only events that you’ll hold. Whatever your specific situation, you can tailor your wedding venue insurance around it to get quality cover you can rely on at a great value price.

What can go wrong?

Did you watch the viral clip where the ring-bearing owl attacked the best man? Luckily the attack only drew laughter, not severe blood loss. But with wedding venues always looking for something different to delight guests, there’s more and more scope for things to go wrong.

What can wedding venue insurance cover?

1) Public liability insurance

From slips and trips over trailing speaker wires to food poisoning, there are lots of things that can go wrong at a wedding party. Unfortunately, there are also lots of legal practices willing to take on no-win, no-fee cases. As a result, it’s straightforward for someone to claim compensation against you. Public liability insurance covers you for legal fees to fight any claim as well as paying any damages that are awarded.

If you are serving the wedding breakfast or any food at your venue, your public liability insurance can cover you. This includes claims for food poisoning or allergic reactions to mislabelled food.

Taking out public liability insurance also makes good business sense. Many couples will insist on seeing your insurance cover note before booking their event with you.

2) Employer’s liability insurance

Employer’s liability insurance is a legal essential if your wedding venue employs any members of staff. Even if your team are family members or work part-time, you’ll need to have it or face stiff fines. It pays out for any injuries or damage to property caused by something connected to your business. For example, a member of staffing falls from a ladder when they are putting up bunting.

3) Premises cover

Whatever type of wedding venue you have, ensure your buildings are adequately protected with commercial property insurance. This pays for any repair or rebuilding costs that are needed if fire or flood damage your venue. Even if your venue is normally your own private home, you’ll need to take out specialist commercial insurance if you are hiring it out for money. If you only do this once or twice a year, speak to your insurance broker who can arrange this cover on a temporary basis. Wedding venue premises cover can also be sourced for specialist buildings, like listed buildings or buildings with a more unusual construction.

4) Specialist equipment cover

Many wedding venues contain plush furnishings or art and antiques. Make sure your contents are appropriately insured by accurately estimating your replacement values. You may also need to consider the cost of hired in equipment, for example, sound or lighting systems for the wedding party.

5) Cancellation cover

Cancellation cover can work both ways. If you’ve only taken a deposit and your booking is then cancelled, it can hurt your cash flow. But what if you need to cancel the reservation for some reason? Brides are notoriously tricky customers. If some unforeseen event means you have to cancel, the client you have let down could sue you not only for the costs of their ruined wedding day but also for ‘emotional distress.’

The best ways to source cheap wedding venue insurance

Hosting weddings can be sound business. The cost of the average wedding in the UK is now nearly £34,000 with venue hire being the usual most substantial single cost. And you can maximise your profits even more if you follow our tips to save money on your essential wedding venue insurance:

  • Shop around

Never just accept your insurance renewal quote. Different insurance companies use different formulas to calculate costs, so it is entirely possible to get two very different quotes for two very similar policies.

  • Speak to a specialist insurance company

Insurance is calculated on risk. An insurance company that is familiar with insuring wedding venues like yours will have a clearer understanding of the level of risk, and that normally means lower premiums

  • Look for bespoke wedding venue insurance packages

There’s no point spending money on insurance that you don’t need. For example, a simple barn wedding venue usually won’t need cover for art and antiques! Look for insurance deals where you can build your own package of cover, so you are only paying for what you actually need.

  • Finally, use a specialist insurance broker

A specialist insurance broker, like Park Insurance, can help you save money and time. Tell them about your business, and they can help you decide what cover you need and create a tailored package that’s just for you. Then, they’ll ring around trusted UK insurance companies to find you this cover at the best price. And the support doesn’t stop once you’ve paid the premium. If you do need to make a claim, a dedicated claims handler will be on hand to do this for you. That means you can focus on running your wedding venue instead.

Are you looking for wedding venue insurance you can trust?

Park Insurance is an independent brokerage with 30 years of experience helping to take the risk out of events. We’ll help you build a budget-friendly package of cover based on your specific needs. And we’ll shop around our extensive list of quality insurance providers and negotiate the best deal on your behalf. Call our expert team now on 0117 9556835 or get in touch for your free quote.