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You’ve spent months planning for a big event or a special day. Unfortunately, unexpected events can happen that require you to cancel or postpone plans. Special events insurance can compensate you for financial losses and protect you against bodily injury and property damage claims. We’ve evaluated the best special events insurance providers based on coverage, financial stability, customer satisfaction, and overall quality.
Simply Business provides insurance policies for a range of professions and small businesses.
For more than 200 years, the Hartford Insurance helped over 1 million businesses just like yours.
Coverwallet began its journey in New York City in 2015 operating under the Aon Insurance banner. At Coverwallet, you can access everything you need to keep your company well-protected at an unbeatable price.
Next Insurance leverages AI technology to streamline the process to purchase insurance, track claims, and manage policies at no additional cost.
With a 100-year history of insuring businesses, Hiscox is well-known across America and globally. With more than 500,000 small business customers, Hiscox is fully aware and trained in the unique risks a business can face.
Thimble provides business insurance that can be tailored to your business by the year, month, day, or even the job. At Thimble, the process to getting the right business insurance is simple, scalable, and flexible.
Special events insurance sometimes referred to as one-day event insurance provides coverage for a wide range of risks and covered losses. For example, extreme weather could cause the cancellation of your wedding, or a photographer may not show up to your event.
Typically, there are two types of special events coverage offered by insurance companies:
While special events insurance is commonly associated with weddings, anyone looking to organize a function could benefit from special events insurance. Event planners and wedding planners should consider coverage in addition to anyone planning their wedding or a special event.
Many events may warrant special events insurance. If you are hosting such an event, check with the venue at which you are hosting the event about their insurance requirements. Many venues will require party hosts using the facility to insure the event. Here are some common events where special events insurance would be useful for (but are not limited to):
When taking out special events insurance, it’s important to consider different types of coverage and policies to cover your event for liability and potential financial losses adequately. The most common types of coverage are:
Often required by venues, event liability insurance covers important risk factors such as someone causing property damage to the venue or a guest slipping and getting injured. If you are held responsible for the accident or damages, legal action may be bought against you.
Event liability insurance can provide coverage for financial losses due to an accident or property damage and emergency medical expenses.
Many insurers may require you to purchase liability coverage to be eligible for event cancellation insurance. Unexpected events can happen that can require you to cancel or postpone an event. This can lead to financial losses where non-refundable deposits are lost.
Event cancellation insurance can provide protection for unforeseen circumstances such as extreme weather, accidents, and vendor bankruptcy. Some policies can provide additional coverage for circumstances such as vendor no-shows, damaged wedding gifts, and lost wedding rings.
For events such as weddings, you may be able to purchase special coverage which provides additional protection for your special day. Special coverage can insure damages to your wedding dress, gifts, and damage to photography or videography.
Special coverage can help pay for repairs and replacements such as the cost of replacing your wedding dress if your dress is damaged.
Accidents can happen, and intoxicated people could get injured or cause damage to the property. Liquor liability insurance can help protect you against liability and damages due to accidents arising from the consumption of alcohol. Some insurers may require you to add liquor liability insurance to your policy.
Coverage for liquor liability insurance can include personal injuries, property damage, and lawsuits that are bought against you. Exclusions can include underage drinking and incidents that occur where a liquor license is not in place.
Exclusions are incidents and events that are not covered by your insurance policy. Common exclusions for a special events insurance policy include:
Before you take out your insurance policy, it’s important to clarify the coverage levels and exclusions of your policy to avoid any surprises if you go to make a claim.
When you take out a special events insurance policy, your limits will determine the maximum amount you can claim in a given policy period. Limits for special events can start from $500,000 and go up to $2 million in coverage. Some insurers allow you to purchase up to one day before the event.
The limits you require will depend on the size of your event, the location, and various other risk factors, such as how much alcohol is served at the event.
Several factors go into the calculation of special events insurance, and policy premiums can vary from one event to another.
Your premium for special events insurance will increase the more risk your event poses and based on coverage limits. For an event that lasts one day, the average premium cost for special events insurance is $182. For events that last two to 10 days, the average premium cost falls at $250. For events lasting longer than 10 days, $257 is the average special events premium cost.
Here are some factors that insurers will consider when providing a quote:
When looking for the best special events insurance policy, here are some key factors to consider before you make a purchase:
