What is event insurance?
Event insurance can be defined as an insurance policy that can help the person who is going to request a rental service to protect their investment in a specific event, such as a wedding, conference, concert, among others. Event insurance can help cover your costs if you need to cancel your event unexpectedly or if you’re found liable for property damage or an injury caused during your event.
Some of these policies also cover if there is any damage to the facilities provided for the event. So if someone bumps into a waiter as they pass by, event liability coverage can help pay for medical expenses resulting from an injury.
Be sure to read your policy to find out what kinds of situations are or are not covered. It must be taken into account that there are several specific events that cover this type of policy, which are the following:
- Anniversary parties.
- Baby showers.
- Birthday parties.
- Religious celebrations.
Advantages of event insurance
Damages: usually requested if there are many people at the celebration. Thanks to this insurance, you will receive compensation.
Theft: although it is not the most common, in a massive celebration it is possible that someone steals some of your things.
Suspension: you never know if you are going to have to suspend the event due to weather conditions or any other unforeseen event.