How Do I Get An Insurance Rider With No Homeowner’s Insurance?
Posted by Kuka under auto on 5 十二月, 2009I do not own a home and am hoping to host a wedding reception at a local public library. They will not rent to me unless I have insurance coverage under homeowner’s. Well, I don’t own a home so I do not have homeowner’s insurance. The only type of insurance I have is auto insurance. Is there a way I can still get the type of insurance I need? How much will it cost?
关注：Homeowners, Insurance, Rider, With
十二月 5th, 2009 at 9:21 上午
You can not get any rider on your auto policy to cover this. Auto policies are for automobile exposures.
Go and speak to your auto insurance agent. See if they sell some type of policy that you can purchase to cover this event. If your company does not sell something that would apply, your agent may be able to suggest another company you could talk to.
十二月 5th, 2009 at 11:58 上午
Yes, you can get a special event coverage, the cost would be somewhere between $250 and $500 for the event.
You SHOULD have renters insurance, though, and you might be able to add the endorsement to your renters, AND buy a full year of renters insurance, for less than that.
Riders, btw, are for life insurance and health insurance. Additions to a homeowners or renters or even auto policy, are called endorsements.
十二月 5th, 2009 at 5:04 下午
Travelers Insurance Company offers a specialized policy called a Wedding Protector Policy which will provide you with Liability Coverage for the public library or any other place that you want to rent, you can also purchase the optional liquor liability, coverage for your dress, wedding rings, gifts, illness, no show by the caterer or photographer and many other aspects of your wedding. You can check their website and purchase it online by visiting http://protectmywedding.com/.
The other option is that you can purchase renter’s insurance for your apartment and extend over the liability from that policy. You can also purchase Special Event Insurance which can cost about $300 to $650 on average depending on the size of the wedding and the limit of liability you choose. However, most of the Special Event policies will not provide coverage for Liquor Liability–when available the Liquor Liability will add an additional $1,000-$2,000 to the premium. Extending over the liability from a renters policy (i.e. the cheap way to get the coverage) will only provide you with premises liability (most companies will not give you liquor liability). In my opinion the biggest risk with a wedding is the liquor liability–i.e. someone leaving the wedding reception who is intoxicated and subsequently crashes and injures or kills an innocent 3rd party which can result in a major lawsuit against the newleyweds.
To recap, if I were in your shoes, I would probably choose the Travelers plan because when you weigh all the coverages vs the price it is by far the biggest bargain.
I hope this helps. Good luck on your wedding!
十二月 5th, 2009 at 10:18 下午
look into renters insurance (you should have this anyway-if you lose your stuff in a fire it you will find out how much you really had). You can also talk to an insurance agent about a special events policy. Both of these are not super expensive especially the special events policy. I suggest checking with an independent insurance agent as they can shop different companies for the best deal for you.
十二月 6th, 2009 at 2:05 上午
thanks
十二月 6th, 2009 at 3:47 上午
You don’t. Ask if you can get some kind of event insurance.