Special Event Insurance Explained

A special event can take a substantial amount of time, money, and effort to plan, largely because it involves picking out menus, finding coordinating vendors, and a host of other minor details. Regardless of how prepared you may be, there is still a chance that something could go wrong.

Event cancellation insurance is designed to reimburse you for lost deposits and other expenses should an unforeseen event force you to cancel or delay your event. If your caterer happens to suddenly close up shop or move out of the country, a special event insurance policy will more than likely cover the cost of your lost deposit and any future charges that may come up as result.

Another situation whereby a special event cover may come in handy is in case your presiding officiate happens to suffer an injury, forcing you to postpone your wedding. This sort of policy will cover any costs that come with rescheduling the venue, vendors, or caterers.

However, even if you already have special event insurance policy in place, it is still important that you understand what scenarios it may or may not cover, just to be on the safe side.

There is also the event liability insurance coverage aspect that is intended to protect you in case you are found responsible for an injury or property damage caused during your event. In fact, most venues require that event planners have special event coverage specifically for this reason.

Certain policies cover incidents caused by guests. This means that if someone happens to get too wild on the dance floor and trips a waitress as she goes about her work, event liability coverage will cover any medical expenses brought on by the injury.

The following events are generally private and may at times:

• Anniversary parties
• Weddings
• Baby showers
• Religious celebrations
• Birthday parties

Public events such as sporting occasions, dance recitals, and exhibitions are usually not covered under this sort of policy. Neither are bachelor or bachelorette parties. Specific business functions such as private corporate parties and fundraisers may be eligible.

To have a better understanding of what liabilities you are insured against, you should to talk to an agent. He or she will be able to clarify things for you.

Marc H. is a marketing manager and copywriter.