Special event insurance is a type of insurance that individuals or organizations purchase to cover their liabilities when hosting events, such as weddings or fundraisers. Basic one-day event insurance averages about $125. That cost can go up based on the number of attendees, the location, and any planned activities.
To get your event properly insured, checkout the team at Insurance321. Their local agents will work with you to identify your exact coverage needs, and provide you multiple quotes in as little as four minutes.
Top Event Insurance Providers
| Provider | Best For |
|---|---|
| Insurance321 | Special event insurance quotes from local experts in as little as four minutes |
| Insureon | Special events insurance for nonprofits |
| Event Helper | Easy online experience for business owners and private individuals |
| Markel | Broad event coverage for small business owners |
| WedSafe | People who wait until the last minute to insure their event |
The best special event insurance providers allow you to get insurance for your special event online in a matter of minutes. Many of them also offer add-ons that let you customize coverage based on the type of event you are holding and any particular needs you have. If you’re looking for special event insurance, be sure to consider some of these top providers.
Insurance321
Insurance321 is an online insurance marketplace known for connecting business owners and individuals with local independent insurance agents. You send the company your contact information, and a representative calls within minutes. They verify your risk so they can get you in touch with a local agent who specializes in event coverage.
Working with an independent agent has a couple of big benefits. The first is the ability to comparison shop. Since they aren’t tied to a single carrier, independent agents can often get multiple quotes to compare. The other is local expertise. A local agent is more likely to know area-specific risks, like weather and crime, and can guide you to the appropriate insurance,
Insureon
Insureon is a digital insurance agency focused solely on small businesses. It claims customers in 23 industries can get fast quotes that save them between 10% and 20% when using its online application.
One of Insureon’s top industries is nonprofits (NPOs). Not only can NPOs save money by quoting event coverage with Insureon, but they get to work with USLI, an insurance company that specializes in the industry. That kind of experience can be invaluable to a nonprofit looking to protect its assets.
Event Helper
Event Helper specializes in basic event coverage for private individuals and business, plus the vendors who typically work events, like DJs, photographers, and planners. The company lets you quote and pay for coverage 100% online. Since Event Helper doesn’t pay agent commissions, its event liability insurance costs are consistently among the lowest.
The application on Event Helper is uncomplicated and fun to use. It shows how your quote changes as you add and subtract coverage, making it easy to pick a package that suits your event. Plus, host liquor liability and additional setup and teardown days are automatically included in your premium.
Markel
Markel writes special event insurance that features a broad range of policy features. For instance, event liability insurance occurrence limits start at $500,000 and go to $1 million. This gives you the peace of mind of being insured without carrying too much coverage. You can also opt to bundle event liability and cancellation coverage for a discount.
Both private individuals and business owners can quote special event insurance through Markel, but it’s probably best for people who are willing to pay more for broader coverage. A policy with a $500,000 liability limit and host liquor liability coverage starts at $150, and event cancellation coverage starts at $130.
WedSafe
WedSafe specializes in wedding event liability insurance and works with top insurance providers, including Aon and Nationwide. The company offers six limit levels for your liability coverage, ranging from $500,000 to $5 million. Plus, WedSafe will bind your policy on your wedding and email a copy of your certificate of insurance to your venue.
These features make WedSafe a good option when you’re working with a venue. With six different liability limits, you can probably meet your venue’s requirement or exceed them if you’re worried about being underinsured. And while most providers need a few weeks’ notice, WedSafe’s same-day coverage and certificate means your wedding can go on even if insurance slipped your mind.
What Special Event Insurance Is
Special event insurance is designed to cover the host’s financial losses and liabilities should problems arise during special functions. Wedding event insurance is the most common event coverage for individuals, but small business owners and nonprofit organizations may need it for store openings, fundraisers, and other events that are outside of their day-to-day operations.
Depending on the special event, hosts may suffer losses because of:
- Cancellations – losses might include refunds for participants, lost security deposits, and permit fees
- Participant’s injuries – losses might include lawsuits and the injured party’s medical bills
- Alcohol-related accidents – losses can include the damage and injury an over-served party guest causes other people
- Vendor issues – losses can include paying for a last-minute substitute
Bringing together large groups of people increases the chance for things to go wrong. As the host, you can be held responsible if a partygoer turns an ankle on the dance floor or the DJ’s amplifiers spark a fire. But you also have to consider your investment. If bad weather causes you to cancel an event, you’re still on the hook for money spent on deposits.
Event Insurance for Small Businesses
Businesses need event coverage when they host functions beyond their standard operations, like company picnics. Policies can be written to fit your particular event, but most focus on liability coverage. You can find one-day policies for under $100, but these usually limit the number of guests and don’t include coverages like liquor liability or cancellation.
Liability insurance pays for third-party claims of:
- Bodily injury, like a guest’s injury during the company’s 3-on-3 basketball tournament.
- Property damage, like a spectator’s smartphone being smashed during the company’s holiday party.
“It’s important to remember that most special event insurance policies only cover the specific loss events that are outlined in the purchased policy—meaning any incidents that occur outside of these parameters are not covered. Because of this, before you purchase any type of special event coverage, you should talk to your insurance agent to make sure you understand what is and isn’t covered in a specific policy.”
– Kevin Drews, Director of Professions Brokerage, Insureon
“It’s important to remember that most special event insurance policies only cover the specific loss events that are outlined in the purchased policyWedding Event Insurance
Wedding event insurance has two main components: liability coverage and event cancellation. Liability coverage pays for people’s injuries and property damage, and event cancellation covers the costs that come with cancellations and postponements. Together, these policies cost between $100 and $300, depending on the number of guests.
You can also add host liquor liability to your wedding event insurance. It pays for damages an inebriated guest causes.
Here are a few events wedding event insurance typically pays for:
- Guest injuries – like a slip-and-fall on the dance floor
- Property damage – like a fire from a knocked-over candelabra
- Cancellation costs – like non-refundable deposits, last-minute venue changes, or a ruined wedding dress.
- Damages caused by drunk guests – like a car crash on the way home
Finally, wedding coverage is the most common private event insurance people buy, but it isn’t the only kind that’s available. Individuals also insure bar mitzvahs, quinceañeras, baby showers, and other special events.
Special Event Insurance Costs
Event liability insurance rates vary widely depending on the event type, length, and number of attendees. Premiums for a one-day meeting with 100 attendees are about $100 to $200. The rate for a three-day trade show with 2,000 attendees is closer to $500—or higher if the venue requires a greater coverage limit.
Special Event Insurance Costs & Deductible
| 1-Day Event Insurance for 100 people | $1M per occurrence $3M aggregate | ||
| 1-Day Event Insurance for 1000 people | $1M per occurrence $3M aggregate | ||
| 1-Day Event Insurance for 2000 people | $1M per occurrence $3M aggregate |
The chart above shows how the number of guest impacts your event liability insurance costs. Premiums go up with the number of attendees because more people usually mean more chances for a lawsuit.
Other factors that impact your event liability insurance costs include:
- Alcohol service – Serving or selling liquor increases the likelihood of trouble, so your premium goes up.
- Location – Outdoor events usually cost more because you risk damage from inclement weather and uninvited guests.
- Limits – Increasing your limits provides extra protection but will also increase your premium.
- Deductibles – Your willingness to pay more out of pocket can lower your overall cost.
Deductibles are a little tricky when it comes to event insurance. Event liability insurance policies don’t usually require a deductible; however, some insurers have one for third-party property damage portion. These typically start at $1,000. Requesting a higher deductible is one way to save on your overall cost.
Wedding Event Insurance Costs & Deductible
Wedding liability insurance doesn’t have to be expensive. You can find coverage for as low as $125, and even lower if you’re willing to drop cancellation coverage. Picking the coverage that suits your wedding is a good way to control costs. Considering that Business Insider reports the average U.S. couple spends over $30,000, controlling costs is key.
For example, rates go up as you buy coverage. Adding $7,500 in cancellation coverage to one-day liability insurance increases your costs to about $150 to $250. You can find bare-bone policies for less than $100. However, those policies limit the number of attendees and typically don’t include cancellation insurance.
Additional Event Coverages for Small Business Owners
Event liability insurance only covers your liabilities when your business hosts a special event, but other problems may arise. For example, you may have to cancel an event that required tickets. Or you might have an offsite event. Some of these issues can be addressed with additional insurance.
Here are a few coverages small business owners might need when hosting an event:
- Cancellation coverage reimburses you for nonrefundable deposits and out-of-pocket expenses leading up to the cancellation. Some even cover lost profits. However, most policies only cover cancellations when they are beyond your control, such as extreme weather or a vendor’s failure.
- Liquor liability insurance covers damages caused by an over-served guest. Most states have laws that let someone injured by a drunk person sue the individual who provided the liquor. The injured person doesn’t have to be an attendee at your event. They could be a passenger in the drunk person’s car or someone the attendee meets after the event.
- Inland marine insurance pays to repair business property damaged when in transit. Business owners who haul valuable equipment to an off-site event may need this coverage.
- Hired and non-owned auto insurance covers your liability in cars your rent, hire, or borrow. For instance, if you send an employee to pick up lunch for your volunteers, HNOA covers your business if they’re in an accident.
Cancellation coverage and liquor liability are usually added to your special event insurance. Inland marine and HNOA can be purchased as a monoline or added to other coverages your business already has.
Tips on Getting Special Event Insurance
Whether you’re planning a wedding or an award ceremony for your top sellers, special event insurance protects your investment. Here are a few tips for getting the appropriate policy.
1. Check your current insurance policy
Before you buy event insurance, be sure to review your current coverage with an agent. Your general liability insurance may have enough coverage for small special events. Your homeowners or renters insurance might also cover liability for weddings hosted in your home. Plus, home insurance policies cover personal property, so damaged gifts and attire may be covered. However, you may still want to get additional liquor liability insurance for the added risk.
2. Read your rental contract
Some venues want to know you have insurance with the appropriate liability limits within a month of your wedding date. Others may want you to have coverage for setup and teardown dates. Knowing what you need sooner rather than later gives you time to compare policies.
3. Get your certificate of insurance
A certificate of insurance is a document that acts as proof of insurance. It lists key policy information, such as coverage dates and limits. Most venue owners want to see your COI so they know you’re meeting their requirements. Before you get your COI, talk to the venue manager. Some want special wording added, and you will need to make that clear to your agent.
4. Include additional insureds
Most venues require you list them as an additional insured on your event insurance. This gives them limited protection under your liability coverage. For example, the venue’s legal fees may be covered if your wedding turns into a fiasco that results in multiple lawsuits. Some insurers charge for each additional insured.
Similarly, you might want to require your vendors to name you as an additional insured. That way, you’re covered if their negligence causes damage.
Event Insurance Frequently Asked Questions (FAQ)
Below are a few of the most frequently asked questions about event coverage. If you don’t see your question, post it to our forum, and someone will get back to you.
Who needs event insurance?
Anyone hosting a special event can benefit from event insurance. This includes private individuals, business owners, and nonprofit organizations. Even people who don’t own businesses often get event insurance to cover their weddings and other special occasions.
What kinds of events does special event insurance cover?
Private event insurance is designed for invitation-only special occasions hosted by an individual. Weddings are a common example, but so are retirement parties, family reunions, and first communions. Business owners also need event coverage anytime they host activities that are outside of their day-to-day operations, such as conferences, fundraisers, and investor dinners.
Do I need wedding liability event insurance if I have a homeowners policy?
The liability component of your homeowners insurance may cover your wedding. That’s more likely true if the wedding is taking place in your residence. However, the cost of cancellations and liquor-related accidents may not be included.
Will wedding liability event insurance pay if my wedding is canceled?
Wedding liability insurance only covers your responsibility for property damage, physical harm, and paying legal fees and medical bills. Event cancellation insurance is separate from this. It reimburses you for costs that come from canceling your event, like nonrefundable deposits and last-minute replacement vendors or venues.
Does my business need event insurance if I already have general liability?
Most businesses and NPOs need unique coverage for special events. Most general liability insurance exclude activities associated with special events. Policies that don’t exclude special events may not have enough coverage for the increased risk.
Do I need special event insurance if I only host one event each year?
Business owners can get separate event coverage when they host multiple events, but most find that inefficient. The better choice is to get an annual special events policy. This way, all of their events are covered throughout the year. The dates for each event must be listed on the event insurance policy for coverage to be in place.
Bottom Line
Considering most venues require a $1 million occurrence / $2 million aggregate liability insurance policy, special event insurance is a no-brainer. Even without that requirement, the risk for vendors to go bankrupt or severe weather to hit makes wedding event insurance plus cancellation coverage a smart investment.
If you’re looking to get coverage fast, try Insurance321. The service connects you with independent agents who understand your risks and can get you the appropriate coverage in as little as four minutes.
Veronica Randall
May 10, 2018 at 1:05 pmTrying to properly word the the need for “event holders” to provide proof of liability insurance when requesting the use of the church.
Jeremy Marsan
May 11, 2018 at 4:50 amFor an example, see Indiana University’s policy for venue rentals. The section under “Insurance Requirement,” which reads:
“The renter must obtain, maintain and provide proof of insurance with a minimum of one million dollars ($1,000,000) of General Liability coverage, for bodily injury and property damage claims, including contractual and personal injury liability coverage.”