Special Event Insurance
What is Special Event insurance?
Special events are part of any business that celebrates its accomplishments and its employees.Annual award ceremonies, anniversary parties, fundraisers, and international seminars are just some of the events small and big businesses may organize over the years.

Each of these events take a lot of preparations and opens you to a lot of risks. Therefore, it is critical for a business of any size that observes any special events to get comprehensive special event insurance.

Special event insurance is the type of insurance that provides you cover for any claims of bodily harm or property damage by any of the attendants or the venue owners that occur during your event. It will also protect your investments in the event should any unwanted circumstances lead to its cancellation.

After spending weeks to organize this special occasion with considerable expenses incurred for its sake, your business should not suffer financially if the desired goals are not achieved.
Who needs a Special Event insurance policy?
Any business that observes any special occasions officially or organizes any business related events should get a comprehensive special event insurance policy. Apart from commercial events, you also want cover of special event insurance if you manage a non-profit organizations. Non-profits frequently organize fundraisers and many other special events where they could benefit from event liability coverage. Similarly, individuals organizing weddings and other special events can equally benefit from getting a special event insurance policy.

The terms of your policy should state the types - and parameters - of the covers you get in clear terms or you might not get due compensation for any damages youendured for something going wrong at your event.

That makes it extremely important that you work with a reliable special events insurance agency to secure special event insurance that comprehensively covers you against any possible claims.

At Ficke Insurance, we have over 35 years of experience helping businesses, non-profits and individuals get cover for their special events, enabling them to pay a small sum for their premium to get protection from huge financial losses in case any of their events fail to happen or a damages claim emerges after the event.
Special Event insurance coverage
Typically, special event insurance coverage takes care of any losses due to cancellation of your event and event liabilities claimed after your event is over. When it comes to event cancellation, problems on part of a third party - and not because you changed your plans-are covered in a special event insurance policy.
What does Special Event insurance cover?
Special event insurance coverage is considered one of the primary policies any big business organization purchases when it is established. Growing businesses also invest in this important coverage as soon as they see the need. However, most small businesses neglect special event insurance because they believe they simply will not need it.

If you are such a business owner/manager, you are wrong. Even as a small business, you are likely to organize, celebrate or observe certain dates and occasions during the year. If any of these functions include leased property or third party attendants, you should not ignore getting proper event liability coverage.
Typical areas of Special Event insurance coverage
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.

To get more information about what your insurance policies should look like, contact one of our agents right now.