Why is year-round event insurance important for one-off events?

But what does event insurance include? And do you really need cover to start before the date of the event?

What does event insurance include?

‘Event insurance’ is an umbrella term for a few different types of protection. While packages vary, the following is typically included as standard:

• Public liability - coverage for incidents where someone files a claim against your client if they’ve experienced injury or property damage because of the event.
• Theft – coverage for losses incurred due to theft at the event.
• The weather, venues, and life in general all present with an element of unpredictability. Cancellation protection covers your client for losses experienced due to unforeseen cancellations.
• Property damage - when a client welcomes the public into the event, anything can happen, including property damage (even if it’s unintentional). This cover protects them against this.

When is event insurance helpful?

There are several situations when event insurance might be a good idea for your client, including:

• School fêtes
• Hobby classes, e.g., art or ballet lessons
• Markets
• Carnivals
• Charity events

One-off events and recurring events are both susceptible to incidents – like a public liability claim or weather-related cancellation – that could leave your client significantly out of pocket without the right protection.

What time period should cover be considered for a one-off event?

One of the biggest mistakes your client can make is purchasing their event insurance too late. Let’s say they have an event planned in eight months’ time and, because the event isn’t for a few months, they haven’t purchased cover yet. The misunderstanding here is that nothing can go wrong until the actual date of the event – but this is wrong.

There are lots of things that can go wrong prior to the date of the event, from unforeseen illnesses causing staff absences to unexpected venue issues resulting in costly relocation fees. It’s therefore crucial they book their insurance as soon as possible to ensure they’re covered for any unforeseen incidents that may occur prior to the date of the event.

Want to know more?

If you’re unsure about any of the information above, or you’re interested in events insurance for your client, you can contact our sales team at sales@geounderwriting.com to learn more.