Event Insurance

Understanding Event Insurance
Event insurance is a specific type of business insurance that protects the investment that has been made in a special event, such as a wedding, a conference or a community festival. While event organizers hope their special occasion goes off without a hitch, it’s always a good idea to plan for the worst-case scenario given the time, effort and financial commitment that goes into these events.

What is event insurance?
An insurance agent will be able to provide a definitive answer since policies vary, but typically event insurance can be purchased to cover a one-time event, such as a wedding, conference, festival, business meeting or dinner. The event must be of limited duration and in a specified location.

How does it work?
Event insurance covers the insured (typically the event organizer or organizing entity) in the case that a major disruption occurs that could cause cancellation or delay or that significantly impacts the event itself. Liability coverage also provides protection in case the facility is damaged or an attendee is injured.

Types of coverage
Event Cancellation Coverage can protect the insured when something happens that threatens to cancel or delay an event. This can include the bankruptcy of a venue or vendor, extreme weather or illness of the host.

Event Liability Coverage is in effect when property damage or bodily injury occurs during the event. This can include injury to or cause by an event attendee, as well as damage to a facility or vendor’s property that occurs.

Major benefits
A special event, whether personal or business, requires a significant investment in planning and organizational time, as well as a financial commitment to a variety of vendors – including speakers, officiants, photographers, florists and others. Event insurance protects those investments while providing peace of mind to the event organizer.