Planning a big event requires a lot of investment that needs to be protected. After all, you don't want your countless hours of effort to go down the drain if things go wrong. If you're an event planner concerned about your events' safety and security, you can prepare and protect your investment by opting for event insurance.

Event Insurance Definition

Event insurance is a type of insurance that protects event planners from financial losses. It provides general liability coverage for any events you're planning and can also be customized to suit your needs. So, if an accident, disaster, or disruption happens during an event, event insurance will cover the damage.

For instance, extreme weather or a delay in your supply chain can put a stop to your event, costing you a lot of money. But your policy can reimburse you for all or some of the money, depending on your coverage.

What Are The Different Types of Event Insurance?

You can get the following types of event insurance coverage, depending on your event organization specialty:

Event Liability Coverage

Event liability coverage provides protection if you're found liable for damage to property or injuries to persons that happen during your event. For example, if a guest at a party or event you're hosting falls and claims their back was injured, you're protected if a lawsuit should arise.

Always check your policy to ensure you know which types of incidences are covered and which are not.

Event Cancellation Insurance

As the name suggests, event cancellation insurance reimburses you and protects you when something wrong happens, and you have to delay or cancel your function. For instance, you can lose your deposits if the guest of honor falls sick and you have to postpone at the last minute.

Your coverage can also help you cover costs related to rescheduling up to a limit and only for certain situations. All this will be outlined in your policy.

Exhibitor Liability Insurance Program

This insurance program guarantees 100% compliance from all exhibitors. That's because when an exhibitor purchases a booth at your event, it automatically comes with exhibitor liability insurance. It protects your own policy from claims that may be caused by your exhibitor's negligence.

Inability to Attend Program (Registration Refund Insurance)

This program protects event organizers from the financial loss associated with issuing refunds to registrants that will no longer be able to attend your event for a reason that's covered in the policy. Therefore, your registration receipts are protected without you incurring out-of-pocket expenses.

Rain Insurance

If you're planning an outdoor event, it's possible to lose revenue if it rains during the event. But with rain insurance, you can recover any financial losses caused by adverse weather. You can customize your policy to cover anything from single to multi-day outdoor events as well as seasonal events.

Snow Insurance

Rain isn't the only type of precipitation that some areas need to keep in mind. Harsh winters can sneak up on you, and then, along with all of the other event planning concerns that you have, you're trying to navigate the effects of a blizzard. Snow insurance policies can protect property managers, municipalities, and other organizations from the financial burden that can come along with removing a lot of snow.

How Does Event insurance Benefit Your Business?

The types of event insurance mentioned above will provide the following benefits for your business:

It Keeps Costs Down

Maximizing profits and keeping profits down is always a priority if you're an event organizer. Event insurance is designed to minimize your out-of-pocket expenses should anything go wrong with any of your events that lead to financial loss.

Policies Can Be Customized

Event organizers deal with all sorts of unique situations. Whether you're planning a wedding, a golf tournament, or a conference, you can customize your policy's coverage and limits to ensure it fully meets your needs.

Provides Peace of Mind

Planning an event requires a lot of effort and investment. The fear of something going wrong can affect your work, but if you have protection from event insurance, you'll have more peace of mind, and this reduces the stress associated with organizing your event.

If you're an event organizer, event insurance can protect you from financial losses, and RainProtection insurance will ensure you're properly covered. Give us a call today to secure your events from the unforeseen!