Your special event insurance provides you cover against any losses you might incur if any incident, such as extremely bad weather, sudden sickness, or a vendor who stops responding to your calls on the eve of the big events, or any combination of such issues, leads you to cancel or postpone your event.
Typically, your special event insurance policy will protect you from two key categories of losses. Using our country-wide network of insurance providers, you can get special event insurance coverage for:
- EVENT LIABILITY: Event liability coverage includes cover for claims that often arise after your event has concluded, reporting bodily harm or property damage to a second or third party. For instance, an altercation between two guests leading to a scene can later result in such a claim. Similarly, the venue owner may report damage to some of their property and claim compensation. Additionally, you should note that many popular venues for corporate and private events now require hosts to have proper event liability coverage before booking the venue.
- EVENT CANCELLATION: Event cancellation coverage provides cover for any down payments or lost deposits your businesses suffers when you cancel your event for any cause due to unforeseeable circumstances. Depending on the terms of your policy, this cover may extend to other losses, too, but it usually does not cover your change of plans for the event.
Many types of corporate events are often covered in a special event insurance policy, including anniversary parties, retirement parties, non-profit fundraisers, business meetings, conferences, and seminars.