The groom gallops from the altar. Rain washes out the family reunion. The sweet sixteen soiree goes sour. The graduation party fails. The bat mitzvah isn't kosher.

You get the bill.

There must be a better alternative.

There is.

It's not Lloyd's of London coverage, but you will feel like an insured celebrity if you've had the foresight to spend a few hundred dollars on something called "special event insurance."

Depending on the level of coverage, you can forget about losing money on special events that end up in disaster and instead claim benefits in the hundreds of thousands of dollars.

Event insurance is designed to protect you from financial loss if something costly goes horribly wrong during a host of events from anniversaries, baby showers and baptisms to quinceañeras, retirement parties and wedding parties, including those held in your home, according to the Insurance Information Institute.

Major providers, including Private Event Insurance; Fireman’s Fund; Travelers; and Wedsafe, say there's much small print to read, the coverage is focused and it's subject to specific conditions, exclusions, limits, restrictions, and deductibles, but the one-time premium offers a host of protections, including:

Published: May 24, 2007

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A journalist for 35-years, Broderick Perkins parlayed an old-school daily newspaper career into a digital news service offering editorial content and consulting services. Perkins' San Jose, CA-based DeadlineNews Group includes the flagship news site, DeadlineNews.Com, offering real estate, personal finance and consumer journalism, and a backshop, the Deadline Newsroom.