There are countless reasons why companies host large events. Sometimes they do it to recognize an achievement, to raise money for a worthy cause, or perhaps for profit. Whether you are raising money or trying to raise money, canceling the event can have serious financial repercussions. Those repercussions are not felt just by the organizer, either. Businesses around the event location, and those involved like caterers and photographers may feel the pinch.
To mitigate the risk from these unforeseen circumstances, you can obtain event cancellation insurance. If the reason for the cancellation is covered, then you can protect yourself against the financial risk of having to cancel. In fact, this coverage can apply not only to cancellations, but to postponements, delays, and interruptions. There are several options, but circumstances that can qualify for coverage include natural disasters, a facility that becomes unusable, and road and transportation problems.
Coverage can help you in the case of cancellation and postponement, as mentioned, but if you have to change venues for one of the reasons mentioned above. You can be protected against low attendance, meaning you can mitigate your losses. If a speaker is not able to attend at the last minute, you can be covered for the costs associated with bringing that person in that you would not be able to recover otherwise. Even if there’s an outbreak of a communicable disease, or terrorism, you’ll be covered to help you keep those financial losses to a minimum in those terrible situations.
Planning and financing an event can be an incredibly stressful undertaking. There is no reason for you to worry that your occasion is going to leave you high and dry if something goes wrong. There is so much that can happen that is out of your control, and you certainly do not want to be left holding the bag. Check for the policy that best suits your needs, and make sure that you are protected against a loss of revenue and recovery of expenses if something unforeseen derails your event plans. It would be bad enough for all your hard work to go to waste, so make sure that all your money does not go to waste too.
As a Nevada business owner, understand that event insurance can protect your bottom line!
Through our program, EventGuard, our staff at Hays Companies will provide event cancellation insurance that will defend your Nevada business against financial losses resulting from the cancellation, interruption, or postponement of an event. We appreciate the need of business owners and event planners to protect their bottom line. Contact us online or call 877-936-0154 to learn more about our Nevada event cancellation insurance options.