Everything You Need to Know About Entertainment Event Insurance

Entertainment event insurance is a type of insurance that covers events such as concerts, festivals, and trade shows.

This type of insurance can be customized to fit the specific needs of the event, including coverage for cancellation, postponement, and interruption.

Event organizers can choose from various types of insurance policies, including liability insurance, property insurance, and equipment insurance.

Liability insurance is particularly important, as it protects event organizers from financial losses in the event of accidents or injuries to attendees.

The cost of entertainment event insurance varies depending on the size and type of event, as well as the level of coverage desired.

Typically, event organizers can expect to pay between 1-5% of the total event budget for insurance premiums.

Event organizers should carefully review their insurance policies to ensure they understand what is covered and what is not.

For example, some policies may cover damage to equipment, while others may not.

At Markel, we understand that planning an event can be a daunting task, which is why we offer a wide range of services to help make your event a success.

We offer housewarming parties, memorial services, Quinceañeras, retirement parties, and special achievement receptions, among many other types of events.

Our event liability insurance can help protect you from financial loss if you're held responsible for property damage or bodily injury at your event.

Event liability coverage highlights include bodily injury and property damage liability, with up to $2 million in coverage available.

With our event liability insurance, you can also add host liquor liability insurance for an extra layer of protection.

Venues can be named as "additional insured" on the certificate of insurance for no additional cost.

You can purchase event liability coverage up to one day before your event.

If you need to cancel or postpone your event, our event cancellation insurance can help reimburse you for non-refundable deposits and expenses.

Event cancellation coverage can be purchased up to 15 days before your event.

Some examples of unforeseen circumstances that may lead to cancellation or postponement include vendor bankruptcy, extreme weather, and accidents or illnesses of the host, honoree, or immediate family member.

Our event cancellation insurance can also provide coverage for damage to special attire, lost or stolen gifts, photographs, lost deposits from no-show vendors, and more.

By purchasing both event liability and cancellation coverage, you can save up to 15% on your total protection for your event.

Special event insurance can cover a wide range of events, including weddings and anniversaries. These are often the most memorable and joyous occasions in people's lives.

Weddings, in particular, can be high-risk events that involve a lot of people and activities. If any individual gets injured while attending your wedding, you may be held liable for medical expenses, loss of income, and other damages.

Birthdays and baby showers are also common events that special event insurance can cover. These events require meticulous planning and can be affected by unforeseen occurrences like extreme weather or accidents.

Retirement parties and multi-day festivals are also eligible for special event insurance. These events often involve food sales, alcohol sales, and other activities that can increase the risk of accidents or property damage.

Special event insurance can provide protection for situations in which an event holder must defend itself against lawsuits or pay damages for bodily injury or property damage to third parties. This policy may also provide protection to the venue by the attachment of an Additional Insured endorsement, when required.

Eligible events include functions such as rodeos, athletic contests, and parades. These events can be high-risk and require specialized insurance coverage to protect against potential liabilities.

Insurance coverage is a crucial aspect of event planning, and it's essential to understand what's covered and what's not. Special events insurance can protect you from unexpected events such as art display damage or auction mishaps.

We cover a wide range of event types, including charity events, concerts, and trade shows. In fact, we have policies for over 20 different types of events, including weddings and receptions.

The coverage details are as follows: General Liability Aggregate Limit is $2,000,000, while Personal and Advertising Injury Limit is $1,000,000. Each occurrence limit is also capped at $300,000, and medical expenses are covered up to $5,000.

Here are some key coverage limits to keep in mind:

You can also add extra coverage for non-appearance and communicable disease, which can provide business income protection and protect against epidemics.

Standard Limits provide a clear understanding of the maximum amount an insurance company will pay out in the event of a claim. The Occurrence limit is $1,000,000.

The General Aggregate limit is $5,000,000, which means the insurance company will pay out a total of $5,000,000 for all claims arising from a single occurrence. This is a high limit, but it's essential to understand what's covered and what's not.

The Aggregate Products/Completed Operations limit is also $5,000,000, which is the maximum amount the insurance company will pay out for claims related to products or completed operations. This is an important consideration for businesses that manufacture or sell products.

Personal/Advertising Injury is covered up to $1,000,000, which is the maximum amount the insurance company will pay out for claims related to libel, slander, or other forms of personal or advertising injury.

Damage to Premises Rented to You is covered up to $1,000,000, which is the maximum amount the insurance company will pay out for claims related to damage to rented premises.

Medical Payments are covered up to $5,000, which is the maximum amount the insurance company will pay out for medical expenses related to an accident or injury.

Here's a summary of the Standard Limits:

Special events insurance can cover a wide range of event types, including art displays, auctions, banquets, and many more.

You can get coverage for unexpected events like severe adverse weather, earthquakes, or terrorism, which can cause cancellation, postponement, or interruption of your event.

NFP, a full-service insurance brokerage firm, offers event cancellation insurance to protect event expenses or revenue against cancellation, postponement, interruption, rescheduling, or abandonment.

Non-appearance coverage can provide business income protection if one of your creative performers or an athlete misses a scheduled event.

Communicable disease coverage can protect you against epidemics, which have become a concern in recent years.

If you're a promoter, producer, or self-promoting venue, you can get live event insurance that covers pyrotechnics, vendors, merchandising, or overnight camping.

Here are some examples of event types that can be covered by special events insurance:

It's always a good idea to review your insurance policy to ensure you have the right coverage for your specific event.