This was on the local news yesterday. For those that don't want to read the article, a bar/restaurant in Brooklyn, NY that is also a popular wedding venue suddenly shut down on Friday. The employees showed up to work and were greeted with closed doors and a sign that read "Rebar is Closed and Bankrupt. Do not Enter." The owner sent his employees a 2 line email that morning that basically read like the sign above. Friday was payday, and these employees are out of 2 weeks pay. On top of that, the venue is booked for the next year or so for weddings. Now, that is all over. The guy took off with $27K in cash and $150K in wedding deposits. FI and I actually met this guy. This was one of the venues we visited, and he bought us dinner and drinks that night at the restaurant! He very nice, and told us that he would be more than willing to work with us in terms of price, as he wanted us to be able to have a great wedding, etc. Luckily, we decided the venue wasn't for us.
This really got me thinking, though. I did thorough research on all the places we visited. This venue received 4 stars on Yelp, great reviews on all wedding platforms, and we really liked the people we met that day. I never would have thought something like this would happen. And obviously, neither did the unsuspecting couples who paid to have this place host their weddings. There was a segment on the news last night about this place, and they recommended wedding insurance. I never thought of it, and now I wonder if this is something to consider, especially with our wedding being a year away. Anything can happen within that time.
So, have any of you guys purchased insurance for your upcoming wedding? Or, those of you that are married, did you purchase insurance? Is this something that is worth considering? I feel that there has to be a way to protect ourselves. There's life insurance, homeowners insurance, car insurance, etc. A wedding is a big expense for the most part, so now I'm thinking maybe it would be smart to protect ourselves. What do you all think?
***The scumbag was arrested! Of course he had the money to post his $30K bail. I hope the couples get their money back.