What is event insurance?
Event insurance helps protect you from liability in case someone injures themselves or damages the venue's property. Most insurers also offer cancellation coverage, especially for weddings, which reimburses you for any non-refundable lost deposits if you must cancel or postpone the event. You may also be able to purchase additional coverage for presents, photos, tuxedos, and other items.
Do I need event insurance?
Many venues require you to purchase event insurance in order to protect their property from damage, as well as reduce their liability if someone gets injured as a result of the event. If you're investing a lot of money in your event, you may want to purchase event insurance simply for the cancellation coverage so you can be reimbursed for any lost deposits.
How much is special event insurance?
The cost of event insurance generally varies based on the coverages you select, the number of attendees, and the duration of the event. For example, it can cost as little as $105 to insure a wedding with 40 attendees* through Progressive® Wedding and Event Insurance by The Event Helper, Inc.** And unlike other types of insurance, the price you're quoted is just a one-time payment.
What does event insurance cover?
While event insurance is a popular choice for weddings, it can be purchased for thousands of other events, including birthday parties, meetings, festivals, and silent charity auctions. Exactly what you can cover varies based on the event and the insurer, but you'll generally be able to find coverage for:
- Liability: If someone gets hurt because of your event or damages the venue's property, you're financially protected from liability claims.
- Cancellation: If you have to cancel or postpone the event, you may be reimbursed for any deposits you lose, as well as any rescheduling fees.
- Gifts & attire: Most insurers offer optional coverage for gifts, dresses, tuxedos, and other items that may be damaged before, during, or after a wedding.
Does event insurance cover weather?
If you have cancellation coverage on your special event insurance policy, then you should be covered if you have to delay or move the date of your event due to bad weather.
What doesn't event insurance cover?
While you can find insurance for most types of events, there are some that insurers typically avoid covering, including:
- Activist events, such as protests or rallies
- Motorized sporting events, including tractor pulls
- Aircraft, boating, and hot air balloon events
- Haunted houses
In some cases, you may be able to find an insurer who offers specialized policies for one or more of the above events. Also, if you purchase event cancellation insurance for a wedding, you won't be covered if you call it off due to cold feet. Cancellation coverage is specifically for things outside of your control that force you to cancel your event.
What to consider when buying event insurance
Before you purchase special event insurance, take the time to research what kind of coverage you need. Here are a few things to consider as you start looking:
- Check your other insurance policies: Call your home or auto insurance provider to see if your current policies apply to the event you're organizing. For example, your auto policy may cover car rentals, while your homeowners may provide some liability coverage. Your credit card company may also offer reimbursement for lost or nonrefundable deposits.
- Know what your policy covers: Some policies may only apply to your reception or exclude your honeymoon — it all depends on the insurer. Always double-check your coverages to ensure they're in line with your needs.
- Buy your policy on time: Some insurers may require you to purchase event insurance a certain number of days before your event. Quote ahead of time to make sure you're covered the day of.