If you’re in charge of planning a big event, you already have a checklist of things to organize—the venue, the band, the caterer, the invitations. But do you need to insure your event in case of bad weather or injured guests? It’s the perfect time to evaluate your coverages and make sure you are taking all necessary measures to protect your investments.

Event Insurance

It's important to consider the types of events to insure and the types of liability to which you may be exposed.  Event insurance usually provides coverage for cancellation, liability, personal injury, property damage, liquor liability, etc.

Most Common Options

1. Liability insurance is coverage for injury or property damage to others as a result of your event.

Some venues require their clients to have a minimum amount of event liability insurance. You may also need your own liability coverage to protect yourself from gaps in the venue’s liability coverage. Your personal liability insurance in your homeowners or renter’s policy may provide adequate coverage for such gaps.

2. Cancellation insurance is coverage for expenses from delays, rescheduling, or cancellations.

Typically, cancellation insurance can protect you from:

• Weather - If your event is postponed because of inclement weather, you can be reimbursed for rescheduling costs.
• Illness or Injury - If the event is postponed because members of the wedding party or event talent become ill or injured, rescheduling costs may be covered.
• Vendor – If a deposit has been paid to a vendor who fails to deliver service, cancellation insurance may cover the loss of the deposit as well as additional expenses due to last-minute replacement vendors.

Additional event coverage options can be added:

• Foreign or Destination - Covers costs incurred in other countries.
• Travel - Provides for lost luggage or cancellation of your destination event or honeymoon due to unforeseen circumstances.
• Military Service - If an event organizer, planner or participant is called to active duty.
• Rented Property - If you are renting furniture or equipment for the event, additional coverage can help pay for repair or replacement costs if any of the rented property is damaged or destroyed.
• Gifts and Attire - Your homeowners or renter’s insurance policy may provide coverage for theft or damage to gifts and/or attire.  If you don't feel this coverage is adequate, a rider can be added to your policy.

What Is Not Covered?

Insurance reimbursements for event costs typically are not covered if the event is called off voluntarily.

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Information from National Association of Insurance Commissioners