Understanding Event Production Insurance Coverage and Costs

Event production insurance is a must-have for event planners and producers, but it can be overwhelming to navigate the various types of coverage and costs involved.

Typically, event production insurance policies cover damages to equipment, liability for accidents, and business interruption.

Some policies may also offer additional coverage for specific risks such as terrorism, cyber attacks, or extreme weather conditions.

The cost of event production insurance can vary widely depending on the type and scope of the event, as well as the level of coverage desired.

On average, event production insurance premiums can range from 2% to 5% of the total event budget, with some policies costing as low as $500 or as much as $5,000 or more.

Event production insurance provides protection against unique risks and liabilities faced by event organizers, producers, and production companies. This type of insurance safeguards all aspects of event production, from pre-production planning to post-event activities.

Many vendors don't offer refunds, no matter the reason for cancellation or postponement, which is why event production insurance is essential. This is especially true for venues that require clients to purchase event liability insurance to avoid sole responsibility for damage to their property.

Homeowners insurance often doesn't provide enough protection, typically covering only event liability and not cancellation. This is why event production insurance is necessary to ensure you're protected from potential financial risks.

Event production insurance can be purchased with various coverage limits, including up to $2M. You can get a free quote online in minutes and even purchase liability coverage just a day before the event.

Here's a quick summary of why you should buy event production insurance:

Event production insurance can be a lifesaver, but it's essential to understand the costs and coverage involved.

Event insurance can range from $75 to $235, depending on coverage limits and options chosen. Liability limits start at $500,000, and liquor liability can be excluded if there is no alcohol being served at the event, lowering the premium.

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If you're looking for event cancellation insurance, it can start as low as $130, and the cost is based on your overall wedding or special event budget. This way, you can ensure you have the most coverage for all your deposits and expenses.

You could save up to 15% by purchasing both event liability and event cancellation coverage, and you'll rest easy knowing your special event is protected.

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Event liability insurance can help protect you if someone causes property damage to the venue or someone is injured at your event. Up to $2 million in coverage can be purchased any time up to 1 day before your event, starting as low as $75.

Event cancellation protection can reimburse you for lost deposits and non-refundable amounts if you have to cancel or postpone your event due to unforeseen circumstances. Coverage can be purchased anytime up to 14 days before your event, and policies can start as low as $130.

Production insurance can include features such as cast coverage, negative film/faulty stock, and all-risk production indemnity. This type of coverage is ideal for film and television productions.

Live media insurance can cover property, business interruption, and public liability, among other things. This type of coverage is suitable for events and media productions that involve a lot of equipment and personnel.

The following types of events may be covered by event cancellation insurance:

Event insurance can range from $75 to $235, depending on coverage limits and coverage options chosen.

Liability limits start at $500,000, which is a significant amount of protection for your special event.

Liquor liability can be excluded if there is no alcohol being served at the event, which can lower the premium.

Event cancellation insurance can start as low as $130 and is based on the overall wedding or special event budget.

Purchasing both event liability and event cancellation coverage can save you up to 15% on the total cost.

You'll rest easy knowing your special event is protected with these types of insurance coverage.

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You can save up to 15% by purchasing both event liability and event cancellation coverage.

GEICO offers policies that start at just $75, making it a great option for event producers on a budget.

With limits up to $2M, you can have peace of mind knowing you're protected in case something goes wrong.

You can even purchase liability coverage just a day before the event and cancellation coverage two weeks before the event, giving you flexibility in your planning.

Here are some key details to consider when choosing an insurance policy:

GEICO is a great option to consider when it comes to event insurance. They offer a range of benefits that can help you save money and get the coverage you need.

You can save up to 15% by purchasing both event liability and event cancellation coverage. This can add up to a significant amount, especially for larger events.

One of the best things about GEICO is that their policies start at just $75. This is a very affordable option compared to other insurance companies.

Their liability coverage has limits up to $2M, which provides a high level of protection for you and your event.

You can purchase liability coverage as late as a day before the event, and cancellation coverage two weeks before the event. This gives you flexibility and peace of mind.

To get a quote, you can visit GEICO's website and get a free quote online in minutes. This makes it easy to compare prices and find the best option for your needs.

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As you start to think about the insurance needs of your event business, you might be wondering if there are additional coverages you should consider beyond the basics.

Hired and non-owned auto insurance is a must-have for companies that transport clients, deliver equipment or supplies, or rely on staff using their own vehicles for work. This type of insurance protects your business from financial loss in the event of an accident while using any vehicle, rented or personal, for event-related purposes.

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Inland marine insurance is a lifesaver for businesses whose success hinges on valuable, portable equipment. This type of insurance safeguards valuable items during transport, storage, and active use.

Workers' compensation is crucial for covering work-related injuries for employees. It protects both your employee and your business, providing financial protection from lawsuits and ensuring compliance with state regulations.

If your event business relies on portable equipment, consider the following types of equipment that inland marine insurance can cover: AV rentals, event décor, high-end catering equipment, exhibition booths under construction or on display, and tools used by event technology providers and production companies.

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