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How to insure a holiday bash

By Jay MacDonald · Bankrate.com
Friday, November 18, 2011
Posted: 10 am ET

If you plan to throw a major holiday bash this season, you need not bear the financial risk alone should a random blizzard, icy roads or no-show vendors spoil the party of a lifetime.

The new Protector Plan for Events from Travelers extends their affordable wedding insurance line into other major life events, including private parties for anniversaries, birthdays, sweet 16 celebrations, baby showers, holiday parties, retirements and more. Travelers also offers auto insurance, homeowners insurance and business coverage.

So you're thinking hey, it's a holiday party, what could go wrong? The short answer is: plenty. Or perhaps you haven't spent December in North America lately.

Severe winter weather can play havoc with any big-ticket event. Flights carrying your guests may be postponed or canceled, local road closures could render your venue accessible only by snowshoe (not a great look with a tux) and loss of power (hell-o, New England!) could leave your festival of light miserably in the dark.

If you're forced to cancel, there go all those deposits you paid to the hotel, caterer, photographer, videographer, disc jockey and/or holiday reggae band, turning your "Festivus" into an expensive mess.

Travelers recently unveiled its Protector Plan for just these worst case scenarios. It covers event cancellation or postponement, transportation shutdowns, lost deposits, special jewelry, event photographs and video, and other catastrophes. You can add a liability rider that covers property damage, bodily injury and liquor liability for the event on the premises only.

There are 10 different limit levels from $7,500 to $175,000 for the cancellation/postponement coverage, while liability limits top out at $1 million. Premiums start at $160 with the average being $400, and there is no deductible.

How can you prevent your holiday extravaganza from being memorable for the wrong reasons?

Yeah, there's insurance for that.

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