22nd June 2010
Event cancellation insurance can come in quite handy and also help you protect your investment. For a relatively small insurance premium you can cover the unexpected costs if your event has to be cancelled or postponed, whether it’s due to the adverse weather or non appearance of important individuals or any other cause. This type of insurance range includes event liability insurance, event cancellation insurance, and event all risks insurance. Your insurance needs to be a part of your entire event planning process, as you could lose the whole event operating budget or could incur extra expenses such as rebooking at another day or another place, extra accommodation and subsistence costs.
• Event cancellation insurance are quite simple to understand and written by most reputable insurers. It can play a great role to ensure that you are covered for all possible events that may ruin the enjoyment of you and your guests on the arrival of your big day. You may be allowed to extend the cover to include also fraud or dishonesty on the part of any of the trustees or other members of staff.
• Whether you are planning a party for your success, holding a wedding, organising a flower festival, planning to stage a large rock concert, or any other festival, you need to have a policy that will also pay additional costs and expenses you might incur in overcoming problems. You can quite easily insure your association's convention or meeting against loss of revenue or committed expenses due to interruption postponement, interruption or even cancellation.
• Some event cancellation insurance providers may even allow you to carry it forward to a rescheduled date or refund your insurance premium, in the event of rain which causes your event to be cancelled. So whatever kind of event you’re planning, you must ask for truly insightful advice from an insurance broker, who can help you get the cover that is tailored to meet your specific requirements.
• You can quite easily buy all the elements of your outdoor event insurance in one easy package, at the best possible prices.There are companies who offer single event insurance, multiple event insurance or even annual event insurance. Whatever your needs, they are always there to help.
• When it comes to event cancellation insurance, there are a couple of standard exclusions that are really important, as you might think they were covered, like for instance, if an insure decide not to get married, he/she unfortunately cannot make a claim ,as this is not included in the cover. Similarly, if any elderly guests with a pre existing condition, that might flair up again and cause said person difficulty in attending the event is also excluded from the policy.
Prior to organising and running an event, you must make sure to have a relevant and reliable insurance policy in place, to protect yourself and your event against any mishaps or any other eventuality beyond your control that would force you to cancel or abandon your event.