What is Event Cancellation Insurance?
There are significant financial risks involved with hosting a public event. For this reason, many professionals involved with hosting such events – including promoters, venues, advertisers, caterers, and planners – rely on event cancellation insurance to protect themselves from heavy fees often associated with unforeseen circumstances.
Depending on the size of the event, a cancellation can have serious and lasting effects on those orchestrating or hosting it. Local businesses depend on revenue from city festivals and concerts. Local caterers, photographers and tailors all rely on both year-round and seasonal events for steady income.
**Although having event cancellation insurance is in your best interest, it is up to the insured individuals to familiarize themselves with the details and scope of coverage provided by the policy.
As long as the cause for the postponement or cancellation is covered under the insurance policy, coverage will protect you against losses stemming from cancellation, interruption, or postponement of a covered event. Such qualifying causes include weather hazards like earthquakes, floods and fires. Others causes include loss of power, damage to the facility, property, or venue and issues involving public transportation or roads leading to the venue.
EventGuard will cover you in case of:
- Event Cancellation
- Event Postponement
- Forced Change of Venue
- Inability to Vacate Premises
- Reduced Attendance
- Non-appearance of Speaker/Entertainer
- Terrorism
With an event cancellation insurance policy from EventGuard, you can rest easy knowing that your special occasion is protected from unforeseen circumstances that could spell out disaster for your bank account. We provide excellent coverage for lost revenue and expenses incurred from the delay or cancellation of an event.