Every event costs money, and that money can be wasted if the event does not happen. There are many different types of events, from charitable functions to athletic events. In every case, the organizer and other participants would be on the hook if it did not proceed as it should have. That means you can be protected against cancellation as well as postponement in the event of any number of problems. Those problems include natural disasters, damage to the venue, and transportation issues.
Other than the items already mentioned, there are several aspects of an event to which coverage could apply. Tickets can be covered, as well as costs such as broadcasting revenue, paying for vendors and specialists, such as bartenders and wait staff. It may be possible to recoup the cost of renting the venue.
When it looks like an event might have to be cancelled, make sure to read the policy carefully and try to satisfy any conditions of that policy. That means making a claim within any deadlines, and submitting a suitable statement of loss. This “proof of loss” will detail all the losses you have suffered as a result of the cancellation or postponement.
You absolutely must protect your event with event cancellation insurance. You certainly do not want to be left holding the bag if it needs to be cancelled or postponed because of an unforeseen circumstance.
Through our program, EventGuard, our staff at Hays Companies will provide event cancellation insurance that will defend your California business against financial losses resulting from the cancellation, interruption, or postponement of an event. Contact us online or call 877-936-0154 to learn more about our event cancellation insurance options.