Forgetting public & products liability is like proposing without a ring
The wedding and events market is quite diverse providing a great source of income for businesses. According to bridesmagazine.co.uk an average wedding in 2017 now costs in the region of £30,000 and professional suppliers are competing for a slice of the £10 billion a year industry (source: hitched.co.uk).
As a sign of professionalism and integrity, many professionals already carry public & products liability as a matter of course, however, in today’s blame game society there is a more functional reason to hold this type of insurance as everybody involved in the chain of providing weddings and events seems keen to protect themselves with a “belt and braces” approach to risk management. After all, nobody wants to potentially go out of business as a result of a claim.
With so many weddings and events now taking place throughout the year and not just between the traditional Spring and Summer months wedding venues in particular are starting to make it a contractual condition that suppliers and wedding couples have public & products insurance in place to host and attend events and wedding fairs. The risk of causing an injury to third parties or causing third party property damage will always be there to an extent, however, this shift towards protecting against potential issues by ensuring that all parties have adequate cover is a multi layered approach rarely seen before in this field.
We've provided public & products liability to businesses and couples for many years. Here they share some stories to highlight why public & products liability is essential rather than desirable and can actually help in safeguarding your business and the big day.
During a wedding last summer the dancing was in full swing and the alcohol was pouring freely. You can imagine the shapes being thrown by guests on the dance floor. When the best man was dancing with the bride, it could only be described as a passionate attempt to recreate the famous lifting scene from Dirty Dancing. Over excited spinning resulted in the bride sliding underneath the buffet table into the DJ booth, which caused the lighting rig to topple, thankfully not onto any guests. However, hundreds of pounds worth of equipment was damaged and the couple didn’t have wedding insurance. Instead of paying around £60 for a policy that would have given them £2 million public liability, they ended up having to fork out a couple of hundred pounds to replace the equipment.
Here’s another example that highlights how a supplier is at fault. After the couple had been dropped off at the reception, the wedding car, a classic Jaguar stayed an extra half hour at the request of the bride so other guests could have photos taken. The car was parked on an ornate mosaic patio overlooking the gardens. After all photos were taken, the car started to drive off and then it was noticed an oil leak had occurred. After the wedding, the venue contacted the driver and informed him they were unable to remove the stain left over by the leak. Unfortunately, the driver’s insurance policy did not contain that all important public liability cover. The policy was created more to protect the car from risk, therefore, the driver ended up paying over a grand to the venue to cover a specialist to clean the mosaic without causing damage.
Here are our top tips for wedding businesses when taking out insurance. During a quote, be sure to detail your full business activity. The Wedding Insurance Group had noticed many florists are also venues dressers and some even provide planning services. If professionals do not disclose this information, they may not be covered if there was an incident that occurred whilst delivering an undisclosed service. It is also wise to check if your policy covers you for crisis containment. This means your branding and name is protected from being mentioned in third party media outlets such as local newspapers if something was to go wrong that would attract press interest.
If you have experienced issues with your insurance policy, give our team a call today for a chat 0800 699 0659 or 0121 550 2380.
Underwriter & Broker
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