Event Cancellation Insurance

Get Your Quote

Or call for your free quote:

Get the best small business insurance quotes online & info on cost, coverage, minimum requirements, certificates & more.

Event Cancellation Insurance Policy Information

Event Cancellation Insurance

Please note: if you are seeking event cancellation coverage for Coronavirus COVID-19: it is not available from insurers as it is deemed a pre-existing condition... and it is specifically excluded from all event cancellation policies.

Event Cancellation Insurance. Do you have a special event planned? A wedding, a baptism, a bar or bat mitzvah, or a graduation, perhaps? If so, you've probably spent a lot of time and money on your celebration.

While you hope that your event will go off without a hitch, you never know when something unexpected is going to arise that requires you to cancel the event. Should that happen, you could be out a lot of money. To protect yourself, don't overlook the importance of investing in event cancellation insurance.

What is event cancellation insurance? Why is it important? How much coverage should you carry? To find the answers to these questions and more, keep on reading.

Event cancellation insurance may help cover expenses if your special occasion unexpectedly needs to be canceled or postponed due to circumstances beyond your control - with rates as low as $17/mo. Get a fast quote now and protect your investment now.

Below are some answers to commonly asked Event Cancellation insurance questions:

How Much Does Event Cancellation Insurance Cost?

Event cancellation insurance costs range from under $100 into the thousands based on the type, location, season and size and duration of the event.

What Is Event Cancellation Insurance?

Event cancellation insurance, as the name suggests, is an insurance policy that protects you in the event that a special event that you have planned has to be cancelled or postponed as a result of unforeseen circumstances.

For example, if a family member were to perish, a weather emergency occurred, event cancellation insurance would help to cover lost costs as a result of the cancellation or postponement. This policy will also cover lost costs if a vendor, officiant, or another professional who is providing a service for your event does not provide the services they were hired for.

It's important to note, however, that this policy likely will not cover lost costs in the event that you or someone else voluntarily calls off the event; if a bride calls off a wedding, for instance.

With this type of policy, generally, you would select the limit for your insurance, or the maximum amount the insurance company who is providing the policy will reimburse you if you decide to file a claim. That amount is usually dependent on the total cost of the event. You should also know that if you do file a claim, it's likely that you will have to pay a deductible before your insurance company will issue a reimbursement for the amount that your policy covers.

What Does Event Cancellation Insurance Cover?

Event cancellation insurance coverage insures against the financial loss arising out of the cancellation, interruption, or postponement of a covered event, as long as the source of the cancellation or postponement is covered in the policy.

However, typically, most policies will reimburse you for the following expenses in the event that your event is canceled or postponed:

  • Nonrefundable down payments on things like your venue, caterer, florist, photographer, entertainment provider, and even travel plans for the event.
  • Special attire for your event. For instance, if your wedding dress is destroyed by a seamstress, an event cancellation policy may help to cover the cost of the damages.
  • Jewelry, such as wedding rings, a wedding tiara, or other types of jewelry that was lost or damaged at the event. It may even cover the jewelry for a certain period of time after the event; for instance, if you were to lose your engagement ring while on your honeymoon, event cancelation insurance may cover the cost.
  • Gifts, such as special tokens that you were intending on giving to your bridal party.
  • Counseling that you may require as a result of the undue distress that having to cancel or postpone your event may cause; appointments with a therapist and any medications that you might require, for example.
  • Military deployment - if your event has to be canceled as a result of a deployment either for you or a loved one - an event cancellation insurance policy may cover the cost of the fees that you could lose.
  • Coronavirus COVID-19 event cancellation is not available from insurers as it is deemed a pre-existing condition and it is specifically excluded from all event cancellation policies.

It is important to note that event cancellation insurance does not cover losses caused by poor event planning, bad marketing, or lack of interest in the event.


How Much Event Cancellation Insurance Coverage Do I Need?

Special Event Cancellation Insurance

The amount of event cancellation insurance you should carry depends on the details of your event; the combined cost of the venue, the vendors, attire, jewelry, etc.

To determine how much coverage you should carry, it's a good idea to consult with a reputable insurance broker or agent that specializes in this type of policy.

This professional can help to direct you in the right direction to ensure that you purchase a policy that offers enough coverage to properly protect you should your event have to be unexpectedly canceled or delayed.


What Type Of Events Does Event Cancellation Insurance Cover?

Some of the events that event cancellation insurance can cover are:

  • Anniversary parties
  • Athletic / Sporting Events
  • Award Ceremonies
  • Baby Showers
  • Baptism
  • Bar or Bat Mitzvah
  • Birthday parties
  • Charity Functions
  • Community events
  • Company Parties
  • Concerts & Music Events
  • Conferences
  • Conventions & Meetings
  • Corporate Hospitality
  • Employee Incentive Trips
  • Fairs & Festivals
  • Fashion Shows
  • Graduations
  • Housewarming parties
  • Major Sporting events
  • Memorial services
  • Motorsport events
  • Product Launches
  • Quinceaneras
  • Retirement parties
  • Special events
  • Trade Shows & Exhibitions
  • Teleconferences
  • Theatre Productions
  • Weddings
  • and many more...

What Are These Causes Of Loss That Event Cancellation Insurance May Cover?

Some of triggers to activate event cancellation insurance may include:

  • Any other previously unforeseen cause not excluded
  • Damage to leased or rented venues
  • Damage to surrounding venues or infrastructure resulting in lack of access
  • Failure of TV broadcast
  • Failure of public transport facilities or denial of access
  • Inability to erect facilities at venue
  • Labor Dispute/Strike risks
  • Natural catastrophe such as earthquake and flood
  • Non-appearance of key speakers, performers, or personnel due to death, injury, or illness
  • Power failure
  • Satellite and signal transmission failure
  • Spread of communicable diseases (COVID-19 Coronavirus currently excluded)
  • War, terrorism, sabotage, and civil or political unrest
  • Weather and environment related perils such as rain, snow, wind, and earthquakes

Event Cancellation Insurance - The Bottom Line

It's a good idea to only insure events that are of significant financial consequence to yourself or your business. It doesn't usually make financial sense to insure smaller events.

Types Of Small Business Insurance - Requirements & Regulations

Perhaps you have the next great idea for a product or service that you know will appeal to your local area. If you've got a business, you've got risks. Unexpected events and lawsuits can wipe out a business quickly, wasting all the time and money you've invested.

Operating a business is challenging enough without having to worry about suffering a significant financial loss due to unforeseen and unplanned circumstances. Small business insurance can protect your company from some of the more common losses experienced by business owners, such as property damage, business interruption, theft, liability, and employee injury.

Purchasing the appropriate commercial insurance coverage can make the difference between going out of business after a loss or recovering with minimal business interruption and financial impairment to your company's operations.

Small Business Information

Insurance is so important to proper business function that both federal governments and state governments require companies to carry certain types. Thus, being properly insured also helps you protect your company by protecting it from government fines and penalties.

Small Business Insurance Information

In the business world, there are many risks faced by company's every day. The best way that business owners can protect themselves from these perils is by carrying the right insurance coverage.

The The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight.

Commercial insurance is particularly important for small business owners, as they stand to lose a lot more. Should a situation arise - a lawsuit, property damage, theft, etc. - small business owners could end up facing serious financial turmoil.

According to the SBA, having the right insurance plan in place can help you avoid major pitfalls. Your business insurance should offer coverage for all of your assets. It should also include liability and casual coverage.

Types Of Small Business Insurance

Choosing the right type of coverage is absolutely vital. You've got plenty of options. Some you'll need. Some you won't. You should know what's available. Once you look over your options you'll need to conduct a thorough risk assessment. As you evaluate each type of insurance, ask yourself:

  • What type of business am I running?
  • What are common risks associated with this industry?
  • Does this type of insurance cover a situation that could feasibly arise during the normal course of doing business?
  • Does my state require me to carry this type of insurance?
  • Does my lender or do any of my investors require me to carry this type of policy?

A licensed insurance agent or broker in your state can help you determine what kinds of coverages are prudent for your business types. If you find one licensed to sell multiple policies from multiple companies (independent agents) that person can often help you get the best insurance rates, too. Following is some information on some of the most common small business insurance policies:

Business Insurance Policy Type What Is Covered?
General Liability InsuranceWhat is covered under commercial general liability insurance? It steps in to pay claims when you lose a lawsuit with an injured customer, employee, or vendor. The injury could be physical, or it could be a financial loss based on advertising practices.
Workers Compensation InsuranceWhat is covered under workers compensation insurance? This type of insurance protects a business and its owner(s) from claims by employees who suffer a work-related injury, illness or disease. Workers comp typically provides the injured employee with benefits to cover medical expenses, a portion of his/her lost wages, rehabilitation costs if applicable, and permanent partial or permanent total disability.
Product Liability InsuranceWhat is covered under product liability insurance? I pays an injured party's settlement or lawsuit claim arising from a defective product. These are usually caused by design defects, manufacturing defects, or a failure to provide adequate warning or instructions as to how to safely use the product.
Commercial Property InsuranceWhat is covered under business property insurance? General liability policies don't cover damages to your business property. That's what commercial property insurance is for. It protects all of the physical parts of your business: your building, your inventory, and your equipment, giving you the funds you need to replace them in the event of a disaster. If you work from home, you might consider a Home Based Business Insurance policy instead.
Business Owners Policy (BOP)What is covered under a business owners policy (BOP)? This is a policy designed for small, low-risk businesses. It simplifies the basic insurance purchase process by combining general liability policies with business income and commercial property insurance.
Commercial Auto InsuranceWhat is covered under business auto insurance? This type of insurance covers automobiles being used for business purposes. This could include a fleet of business-only vehicles or a single company car. In some cases it might cover your car or your employee's car while they're being used for business. These policies have much higher limits, ensuring you can cover your costs if one of these vehicles gets into an accident.
Commercial Umbrella PoliciesWhat is covered under commercial umbrella insurance? This type of policy is a sort of "gap" insurance. It covers your liability in the event that a court verdict or settlement exceeds your general liability policy limits.
Liquor Liability InsuranceWhat is covered under liquor liability insurance? It covers bodily injury or property damage caused by an intoxicated person who was served liquor by the policy holder.
Professional Liability (Errors & Omissions)What is covered under professional liability insurance? This type of business insurance is also known as malpractice oe E&O. It covers the damages that can arise from major mistakes, especially in high-stakes professions where mistakes can be devastating.
Surety BondWhat is covered under surety bonds? Bonding is a contract where one party, the SURETY (who assures the obligee that the principal can perform the task), guarantees the performance of certain obligations of a second party, the PRINCIPAL (the contractor or business who will perform the contractual obligation), to a third party, the OBLIGEE (the project owner who is the recipient of an obligation).


Who Needs General Liability Insurance? - Virtually every business. A single lawsuit or settlement could bankrupt your business five times over. You might also need this policy to win business. Many companies and government agencies won't do business with your company until you can produce proof that you've obtained one of these policies.

Business Insurance Required by Law
Small Business Commercial Insurance

If you have any employees most states will require you to carry worker's compensation and unemployment insurance. Some states require you to insure yourself even if you are the only employee working in the business.

Your insurance agent can help you check applicable state laws so you can bring your business into compliance.

Other Types Of Small Business Insurance

There are dozens of other, more specialized forms of small business insurance capable of covering specific problems and risks. These forms of insurance include:

  • Business Interruption Insurance
  • Commercial Flood Insurance
  • Contractor's Insurance
  • Cyber Liability
  • Data Breach
  • Directors and Officers
  • Employment Practices Liability
  • Environmental or Pollution Liability
  • Management Liability
  • Sexual Misconduct Liability

Whether you need any or all of these policies will depend on the results of your risk assessment. For example, you probably don't need an environmental or pollution policy if you're running an IT company out of a leased office, but you would need data breach and cyber liability policies to fully protect your business.

Also learn about small business insurance requirements for general liability, business property, commercial auto & workers compensation including small business commercial insurance costs. Call us (855) 767-7828.

Additional Resources For Small Business Insurance

Protect your company and employees with the right commercial insurance policies. Read informative articles on small business insurance coverages - and how they can help shield your company from legal liabilities.


Small Business Commercial Insurance

Your small business faces many potential disasters including: fire, floods, theft, equipment breakdown, lawsuits from clients or customers and current & former employees. Any many other risks you haven't even thought about.

A small business commercial insurance program should provide protection for both larger and smaller disasters. The obvious things like fire, flood and theft most business owners think about... but what if a hacker infects your computers with a virus - and files containing private customer information like credit card and Social Security numbers are stolen?

Who is going to pay to fix your customers credit rating etc...? Will your insurance pay for the cost? You need to know that.

Your commercial insurance program should cover events that can close down your company, or cause it to lose revenue. Anything less than that is not enough coverage. Commmercial insurance doesn't cover everything, and all policies have exclusions and limits.

You need a written plan that allows you to get your operations back up and running as quick as possible.


Free Business Insurance Quote Click Here