Special Events Insurance

What it Costs   .   .   .     Common Venue Requirements

 

 

Costs run from as little as $150-200 for a small family event to thousands (sky's-the-limit) for big concerts, fairs, hazardous sporting events, motor racing, etc. Smaller events considered relatively low-risk can usually be insured for $300-500.   Everything else is in between. These very approximate costs would represent premium for a common, limited liability policy with no enhancements.  Much depends on the expected attendance or gross revenue at the event. (Underwriters ask for this information to quantify risk & use it to determine your premium.) Special endorsements or modifications required by your venue (or by city or other governments) may drive the cost up.

There are super-cheap policies (About $100) around for very small events, i.e. weddings, birthdays, bar mitzvah, bat mitzvah, which contain many exclusions & effectively reduce the insurance to cover only the acts of the bridal party, honorees and/or guests. If you have homeowner's insurance that would fill in where the exclusions apply, the cheap policies may suit your need. Ask your agent.

Most policies offer optional insurance for such things as liquor liability, vehicles, venue damage, rented equipment or props, medical insurance for athletic or other participants, loss of revenue or costs due to event cancellation, etc. These items usually add considerable insurance expense.

Venues will usually expect at minimum a $1,000,000 general liability insurance policy, and most expect to be named on the policy as an "Additional Insured.".  They are, in general, surprisingly uninterested in reviewing actual policy language, however you need to be careful in asking for their requirements. Get their sample certificate or other written specs if at all possible; otherwise you risk having paid for insurance they will not accept. (And getting a refund on Special Events Insurance can be all-but-impossible, even when your event is canceled.)

Specialeventins.com is sponsored by Western Sentry Insurance Brokers.

We offer special events insurance in California-Nevada-New York only. For our online quote request form please click here.