Special Events Insurance

Where to Buy

 

The best starting point is always a broker-agent you already know and trust.  Your regular personal or business insurance agent may not be able to handle it, but should at least point you in the right direction.  Other sources for referral would be people you know who have already done an event similar to yours.  Venues will usually be able to put you in touch with broker-agents who handle this line of insurance.  Lastly, the internet can also be a resource. As you may very likely have done already, enter your type of event in the major search engines, and any number of searched and paid listings will appear.

For some of the commonplace family events, there are exclusive agents & carriers who will handle your business direct if you can find them. The Fireman's Fund Insurance Company has a good and inexpensive program for weddings, birthday parties, bar/bat mizvah's, showers, reunions, etc, however it is not generally handled by their regular agents. Approaching their program direct, you will be on your own to obtain and complete the application, arrange for payment and hound the underwriters for documents. Since they treat this insurance line as a commodity & handle a rather large volume, getting it done directly can be problematic, and it may be worth the $50-100 (or more) a broker-agent may charge to do the work. Much depends on how much time you have, and your tolerance for the telephone and/or correspondence back-and-forth.   If you just happen to give a wrong answer or omit something on their application, you may be sent back to ground zero and if you're out of time, it could be lethal to your event.

The program managers and brokers commonly add fees to the premium to cover the one-time costs of starting up your account from zero.  (Because income from future renewals is generally not expected as would be the case with annual policies, and commissions as a percentage of small-premium policies may produce near-zero income. Some programs pay no commissions at all, thus the fees.)  Aside from some of the smaller-scale events noted above, you will not be able to go direct to some special event insurance programs, and will almost certainly find it necessary to employ a broker-agent.  While shopping is prudent, if you dial up a bunch of brokers & sit back to await quotes, you're likely to be disappointed. (Profit margins are extremely small for special events insurance & the pool of underwriting carriers equally small. There is normally little tolerance for "shotgun" shopping.)  It is usually better to maintain contact with a broker or two who respond promptly and give you some specific assurance of a forthcoming quote within a specific timeframe.

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