Event insurance provides protection to the events such as weddings, cultural events, festivals, sports events. These events are protected against risks such as bad weather, human error, cancellations, and mismanagement and so on. This type of insurance policy is useful to protect against unpredicted and potential loss.
Insurance for protecting best events and moments
Insurance is known for protecting property and persons against unfavorable events. But your best events in life such as wedding or festivals can also be insured with the help of event insurance policy. An event requires rigorous planning, hiring of staff, inviting elite people, cuisines and much arrangements. You keep your fingers crossed so that the entire event goes smoothly. An even insurance policy can eliminate all your worries. Your event can be about anything such as product launch, sports event, cultural event, temple festivals, other religious gatherings, parade or your wedding. Let us enlarge this view. You are running an entertainment company and arrange many musical shows in a month. It is better to understand the importance of event insurance beforehand.
With event insurance, you can protect your event against loss due to last minute cancellations or bad weather conditions. You can even choose a customized insurance cover for your event.
Coverage of this policy
This policy covers almost every type of event. The list can be given as follows:
- Sports tournaments such as cricket matches, athletics, swimming competitions, etc
- Entertainment events like musical concerts, film productions, advertising, and so on.
- Award ceremonies
- Product launch
- Book launch
- Fashion shows
- Temple Festivals with Elephants
Thus, event insurance provides protection to the event management companies as well. They are indulged into planning and managing events. The policy takes care of their considerable efforts and safeguards against losses.
Insuring your wedding
You are in the middle of your wedding and you hear that your wedding caterer has cancelled all his orders for that day. In such cases, wedding insurance can also be obtained well in advance. This policy covers the expenses incurring due to cancellation or delay of wedding services like music, food, loss of wedding ornaments, clothes and so on. So, now a recent trend of insuring a person’s wedding has emerged. It protects everything in a wedding. The person who takes the wedding insurance policy must take care of the valuation bills, shop bills, etc. He or she is required to maintain documentation of all these receipts. These documents are supposed to be presented for claiming an event insurance claim. That person should also inform his family and friends about the insurance requirements. This is because the family members are also involved in wedding planning process.
Customized event insurance
The event insurance covers following circumstances:
- Last minute cancellations
- Personal accident
- Burglary, theft
- Loss of money in transit
- Bad weather conditions (This affects a sports match badly)
- Fire
- Extra expenses
- Public Liability
According to the nature of an event, a person can take the event insurance policy in a customized manner. He must also keep all the receipts and bills in proper form for submission, when required.
