Event insurance mitigates financial losses and takes care of unexpected expenses if accidents, cancellations, delays, and other undesirable things happen to the event you’re in charge of. Purchase this because venue managers or owners won’t sign the rent or lease contract if your event is uninsured.
What is Event Insurance?
Event insurance is a type of short-term coverage that’s made out of casualty and property insurance policies. You use this as an hourly, weekly, or one-day event insurance to cover the participants, key persons, and equipment.
Indoor and Outdoor Event Insurance
You get the option of availing your event insurance as coverage for indoor or outdoor events. Indoor event insurance doesn’t automatically come with rain coverage. On the other hand, outdoor event insurance comes with rain coverage and other optional policies that cover other unique exposures.
What Are the Policies Included in Event Insurance Plans?
Liability insurance, cancellation insurance, rental equipment insurance, key person coverage, weather insurance, and rain insurance are the most common inclusions you’ll find in an event insurance plan. Let’s discuss how these work:
Event Liability Insurance
| Per occurrence limit | Aggregate limit | Products and completed operations aggregate limit | Advertising injury coverage aggregate limit | Tenant’s legal liability coverage limit | |
|---|---|---|---|---|---|
| CoverWallet | $1,000,000 | $2,000,000 | $2,000,000 | $1,000,000 | $100,000 |
| Thimble (Best) | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $1,000,000 | $5,000 |
| Nationwide | $500,000/$1,000,000 | $500,000/$1,000,000 | $1,000,000 | $1,000,000 | $100,000 |
| Markel | $1,000,000 | $2,000,000 | Included | Included | Included |
| Event Helper | $1,000,000 | $3,000,000 | $2,000,000 | $1,000,000 | $300,000 |
| K&K | $1,000,000 | $2,000,000 | Included | Included | Included |
| GEICO | $1,000,000 | $2,000,000 | Included | Included | Included |
| Progressive | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 | $100,000 |
Use the table above to see which insurance companies have the best temporary liability insurance for events.
Event liability insurance-a general liability policy-grants protection if participants decide to sue after getting injured. Here are some situations where you’ll find this useful:
- A stampede occurs during the event
- An audience is hit by an object used by one of the performers of your event
- An event prop falls on a participant
- A participant gets hurt while using a vending machine, an arcade machine, or any other equipment of your event
You can use general liability insurance for events to cover these expenses each time a claim for bodily injury or property damage is filed:
- Medical treatment of the participants
- Reimbursement for the damaged properties of participants
- Settlements
- Legal fees
- Court judgments
Event general liability insurance comes with rented premises liability coverage, which allows you to reimburse the losses of the venue owner if their property is damaged because of fire.
Event Cancellation Insurance
Subject to which insurance company you work with, your event insurance can have optional cancellation coverage.
Event cancellation insurance takes effect if your event is canceled due to conflicting schedules, venue issues, terrorism, war, political unrest, and other covered perils. By using this insurance, you can get a reimbursement for the non-refundable costs for:
- Food
- Lighting and installation
- Sound system rental
- Photographer’s fees
- Event prop rental
Rental Equipment Insurance
You need lighting, an LCD screen, a sound system, and other equipment for your event. Of course, the most cost effective way to have all of these is through renting. The thing is, the equipment rental business might not cater to your needs if you can’t cover their merchandise.
Your events insurance can cover rented equipment through its rental equipment coverage. This will reimburse the losses of the owner and cover repair or replacement costs in case rented equipment gets lost or damaged because of:
- Fire
- Theft
- Vandalism
- Operator error
- Electrical shorts
- Electrical breakdown
- Impact
- Water damage
Rain Insurance for Events
Rain coverage might be included as an optional or automatic add-on to your event insurance plan. Rain insurance for events will reimburse non-refundable expenses if your event has to be postponed, relocated, delayed, or canceled due to heavy rains. Another thing to remember is that rain insurance for outdoor events doesn’t cover lost revenues.
Liquor Liability Insurance for Events
Liquor liability insurance can be added to your event insurance plan if your event sells liquor. You can use this to cover expenses if an intoxicated attendee injures himself or injures others resulting in a claim to be filed. Liquor liability insurance has its own limits or can share its limits to the general liability policy of your event insurance plan.
Weather Insurance for Events
Event insurance doesn’t cover lost revenues caused by adverse weather conditions such as rain, snow, sandstorm, hail, or heatwave. Coverage for this exposure is only possible if you get a stand alone event weather insurance.
If adverse weather conditions happen during your event or before it takes place, weather insurance will reimburse the lost revenue that you would’ve earned from ticket sales, concessionaire fees, and parking fees.
Get all the best quotes from leading providers in a click of a button!
Different Types of Event Insurance
Events come in different types. The same is also true for event insurance plans. The following sections discuss the specialized varieties of event insurance.
Festival Event Insurance
A festival event insurance is used to cover oktober fests, cultural festivals, religious festivals, folk festivals, film festivals, art festivals, and other related events. This costs $150 for 24 hours of coverage.
Party Event Insurance
Party event insurance covers birthday parties, graduation parties, tea parties, Halloween parties, Christmas parties, garden parties, cocktail parties, and banquets. This costs $110 for 24 hours of coverage.
Sports Event Insurance
Sports event insurance is the specialized coverage for tournaments and exhibition matches for basketball, softball, tennis, hockey, football, and other sports. This costs $200 for 24 hours of coverage.
Wedding Event Insurance
Wedding event insurance grants coverage for accidents that happen during a wedding. This also comes with optional policies that insure the wedding ring and the wedding attires of the groom and bride. Coverage for a canceled wedding due to cold feet is also included. Wedding insurance costs $100-$200 for 24-hour coverage.
Concert Event Insurance
Organizers of pop, rock, jazz, R&B, and EDM concerts go for concert event insurance. This covers cancellation in case the performers can’t show up. Coverage also applies to musical instrument damage or loss. You’ll pay $159.94 for one-day coverage.
Help others make better decisions
Event Insurance Cost
The average event insurance cost is $115 for a one-day general liability coverage. Cost depends on various factors, including:
- The type of cover you want
- The level of cover you need
- The kind of event you are organizing
- How long the event will last
- The event location
- The event size and how many people will attend
Your actual rates will vary depending on the above factors. In addition, here are the general liability insurance rates of the best carriers for event insurance:
| Cost | Best for | |
|---|---|---|
| CoverWallet | $33 | Event insurance quotes comparison online |
| Thimble | $41 | On-demand event insurance that provides coverage for 5 days minimum |
| Progressive | $43 | Event cancellation insurance covers |
| Markel | $50 | Same-day event insurance |
| K&K | $52 | Comprehensive event insurance |
| USAA | $56 | Event insurance cover with engagement ring coverage |
| AAA | $64 | Event insurance covers festivals, dance marathons, and auto shows |
| Nationwide | $68 | Immediate replacement for damaged items and belongings |
| Liberty Mutual | $78 | Event insurance with a quick claims process |
| Allstate | $89 | Event insurance that covers parties, weddings, corporate events, and business meetings |
| ACORD | $95 | Event insurance that covers animal shows |
| Tulip | $100 | Event insurance with rental agreement cover |
| GEICO | $103 | Wedding event insurance |
| State Farm | $115 | Customizable event insurance coverage |
| Event Helper | $117 | Event insurance with an optional workers comp coverage |
| Allianz | $121 | Event insurance that provides full reimbursement for the ticket price if an event is canceled or attendance is made null |
| Total | $130 | Events wherein prizes are awarded to guests or participants |
| Peerspace | $182 | Short-term liability insurance for events of Peerspace users |
| Travelers | $192 | Event insurance with deposit coverage |
You should compare the different insurance providers’ premiums for the best deals, especially when buying event insurance online. Click the “Get Quotes” on this page to get a cheap event insurance quote and see the pricing and offers of carriers.
Get all the best quotes from leading providers in a click of a button!
Best Event Insurance Companies
Below is a breakdown of some of the best event insurance companies in the industry. The analysis includes a brief overview of the company, its insurance products, and the pros and cons.
CoverWallet Event Insurance
Pros
- Cancel your coverage anytime
- Get insured online
- Compare quotes to find the best coverage
Cons
- Policy cancellation takes long to process
CoverWallet’s event insurance offers general liability insurance, liquor liability insurance, and cancellation coverage. Note that this insurance broker has an online quotes comparison platform you can use to find other companies offering insurance for events. Work with CoverWallet and enjoy online policy management, insurance cancellation with no additional fees, and instant online certificate of insurance.
Best for: Event insurance quotes comparison online
Average cost: $33 for one-day coverage
Our rating: 10/10
Thimble Event Insurance
Pros
- Allows policy cancellation up to the minute it starts
- Provides liquor liability
- Provides online quotes
Cons
- It does not cover event cancellation
Thimble started in 2016. Its event insurance grants a $1 million-$2 million general liability policy. Rental equipment can also be covered. Thimble doesn’t sell cancellation coverage.
Best for: On-demand event insurance that provides coverage for 5 days minimum
Average cost: $41 for 5-day coverage
Our rating: 9/10
Total Event Insurance
Pros
- One-time event insurance has prize coverage
- Offers event surety bonds
Cons
- Website isn’t very intuitive
Total’s event insurance is perfect for sports events and other kinds of events where prizes are given. Why? Aside from cancellation, liability, and weather coverage, this company’s event insurance has prize coverage which insures prizes up to $1 million.
Best for: Events wherein prizes are awarded to guests or participants
Average cost: $130 for one-day coverage
Our rating: 9/10
Event Helper Insurance
Pros
- Outstanding customer support
- Instant online quotes
Cons
- No cancellation policy
- Does not cover events help abroad
Event Helper started in 2009. It offers products with excellent coverage. Event insurance from this company includes specialized coverage that other carriers might not be offering.
Best for: Event insurance that covers animal shows
Average cost: $117 for one-day coverage
Our rating: 9/10
State Farm Event Insurance
Pros
- Covers all 50 states
- Provides 24/7 customer support
- Allows you to customize your coverage
- Offers event insurance Oregon and other 49 states
Cons
- Only allows you to purchase coverage from the company or its agents
State Farm started in 1922 and has grown into a leading insurer providing events insurance and handling 39,000 claims daily. Its customer base exceeds 85 million policyholders. State Farm doesn’t have event insurance. However, according to forums, this insurance company provides coverage if the customer has existing liability coverage in their homeowner’s or business insurance policies.
Best for: Customizable event insurance coverage
Average cost: $115 for one-day coverage
Our rating: 9/10
USAA Event Insurance
Pros
- Offers a money-back guarantee
- Protects insured party during rehearsals up to 48 hours before the event
- Provides engagement ring insurance
- Can purchase event policy the day before
Cons
- Only available for USAA members, including active military personnel, reservists, veterans, and family members
USAA event insurance policies cover military personnel and their families. The insurer covers all events within the country and its territories, plus on cruise ships.
Best for: Event insurance cover with engagement ring coverage for wedding events
Average cost: $56 for one-day coverage
Our rating: 9/10
Allianz Event Insurance
Pros
- Covers 100 percent of original ticket prices, including taxes and additional shipping charges
- Cover certain pre-existing conditions
- Allows online claims
Cons
- Only refunds ticket costs for covered reasons
Allianz event ticket insurance reimburses 100 percent of ticket prices for canceled events, including taxes and shipping charges. In addition, the insurer covers you against financial losses if you fail to attend an event due to unavoidable circumstances, such as illness, injury, traffic accidents, employer termination, carrier delay, weather, jury duty, military duty, etc.
Best for: Event insurance that provides full reimbursement for the ticket price if an event is canceled or attendance is made null
Average cost: $121 for one-day coverage
Our rating: 8/10
Progressive Event Insurance
Pros
- Covers over 400 event types
- Offers a five percent discount on every direct policy purchase from the company
- Offers cancellation insurance
Cons
- Has mixed customer service feedback
Progressive Insurance Company started in 1937. The BBB and AM Best highly rate it. The insurer offers a broad range of event policies with highly accessible online claims reporting, live customer support, and online premium payments.
Best for: Event cancellation insurance covers
Average cost: $43 for one-day coverage
Our rating: 8/10
Geico Event Insurance
Pros
- Liability starts at $500,000
- Offers cheap event cancellation coverage
- Offers event insurance Florida
- You can secure up to $2 million in event insurance one day before
- Offers a 15% discount when purchasing wedding liability and event cancellation coverage concurrently
Cons
- You must purchase the event cancellation policy at least 15 days before cancellation
- No online quotes
- The cancellation insurance policy does not cover infectious diseases
- No non-profit event insurance
- It does not cover sporting events, concerts (paid attendance events), or events featuring firearms
Geico Insurance provides event insurance cover for several events, including weddings, baby showers, and anniversaries. You can purchase insurance as far back as two weeks prior.
Best for: Wedding event insurance
Average cost: $103 for one-day coverage
Our rating: 8/10
Markel Event Insurance
Pros
- Offers a 15% discount for a concurrent purchase of general liability and cancellation policies
- Offers low deductibles for cancellation policies, up to $25
- The cancellation policy covers the whole country and selected international destinations
- You can purchase policies the day before your event without additional costs
Cons
- The liability policy does not cover international destinations
- Has a $300 limit on all cash gift loses
Markel Insurance curates two low-cost event policies: event liability and cancellation coverage. Note that you can also buy Markel’s event insurance coverage from GEICO.
Best for: Same-day event insurance with cancellation coverage having low deductibles
Average cost: $50 for one-day coverage
Our rating: 8/10
AAA Event Insurance
Pros
- Offers protection plans as low as $160
- Covers replacement and repair costs for damaged gifts
- Reimburses non-recoverable expenses resulting from unexpected active duty call-ups
- Covers sudden illnesses resulting in even postponement
- The protection plan offers vendor liability coverage
Cons
- The policy is only available through the insurer’s agents
- It has a high average premium
American Automobile Association has a collection of branded policy products to protect events. In addition, it offers discounts to help policyholders save money on the first premium.
Best for: Event insurance covers festivals, dance marathons, and auto shows
Average cost: $64 for one-day coverage
Our rating: 8/10
Tulip Event Insurance
Pros
- Includes host liquor liability
- Offers curated insurance policies to meet the contractual requirements of rental agreements
- Includes hired and non-renewable automobile liability cover
Cons
- Charges additional premium for terrorism covers
- Premiums account for one- to four-day events, with additional charges for extra days
Tenant Users Liability Insurance Policy protects venue owners and lessees from third-party liability.
Best for: Event insurance with rental agreement cover
Average cost: $100 for one-day coverage
Our rating: 8/10
Travelers Event Insurance
Pros
- Covers event cancellation and postponement
- Covers event gifts and attire
- Has optional liability and liquor liability policies
- Covers lost deposits
Cons
- It only covers 42 states
- Has reportedly high premiums after filing claims
Travelers Insurance helps individuals and businesses protect their investments during their events. It covers anniversaries, birthdays, baby showers, retirement parties, and Bar mitzvahs.
Best for: Event insurance with deposit coverage
Average cost: $192 for one-day coverage
Our rating: 8/10
Liberty Mutual Event Insurance
Pros
- Comprehensive policy coverage extending to 29 countries
- Great mobile app accessibility
- Quick and efficient claim resolution
Cons
- It does not cover damages from intentional acts or certain vehicle types
Liberty Mutual featured among the top 100 fortune 500 companies and was the sixth-largest global insurer in 2021. The company started in 1912 and has grown to provide comprehensive solutions for various risks.
Best for: Event insurance with a quick claims process
Average cost: $78 for one-day coverage
Our rating: 7/10
Acord Event Insurance
Pros
- Provides music and entertainment insurance
- Covers liquor liability
- It has a one million limit for workers’ compensation
- Covers property damage
Cons
- It’s not BBB accredited
Acord provides insurance policies for various events, including business meetings, social gatherings, boxing matches, diner dances, balls, seminars, conferences, festivals, and sporting events.
Best for: Event insurance with an optional workers comp coverage
Average cost: $95 for one-day coverage
Our rating: 7/10
Allstate Event Insurance
Pros
- Offers broad event liability and cancellation policies
- Offers online quotes
- Has customizable policies
Cons
- Has no 1-day insurance policies for events with over 500 people or sporting events
Allstate offers events policies for parties, weddings, corporate events, and business meetings.
Best for: Event insurance covers parties, weddings, corporate events, and business meetings
Average cost: $89 for one-day coverage
Our rating: 6/10
K&K Event Insurance
Pros
- Offers special insurance policies for entertainment, sports, and recreation
- Offers various products at competitive prices
- Offers specialized general liability insurance covers such as liquor liability or motorsports liability for events up to 12,000 participants
Cons
- Has poor customer service
K&K started in 1952 and now boasts an A+ BBB rating because of its extensive network of independent agents. This company is a great option if you’re looking for event insurance coverages that other carriers don’t offer.
Best for: Comprehensive event insurance
Average cost: $52 for one-day coverage
Our rating: 6/10
Nationwide Event Insurance
Pros
- Coverage is standard and does not attract extra charges
- Has exemplary customer service
- Offers various discounts
- Provide immediate replacement for damaged items
Cons
- It offers limited coverage and excludes Alaska, Louisiana, and Hawaii
- Event insurance is underwritten by K&K
Nationwide offers a standout event insurance cover with a brand-new belongings clause to ensure you receive enough compensation to restore damaged property or replace it.
Best for: Immediate replacement for damaged items and belongings
Average cost: $68 for one-day coverage
Our rating: 6/10
Peerspace Event Insurance
Pros
- Provides space coverage up to $1 million
- Cover kicks in after exhausting the primary coverage
Cons
- Requires a primary cover to access the policy
Peerspace covers property owners and lessees who rent out their space by the hour for events. Hosts receive unprecedented protection for up to $1 million.
Best for: Short term liability insurance for events of Peerspace users
Average cost: $182 for one-day coverage
Our rating: 5/10
