Are you planning an event this summer? Whether you’re throwing a wedding, hosting a family reunion, or having a company party, summer is the perfect time of year for big events. But while these events are exciting, it’s important to make sure that you’re properly prepared in case anything unexpected happens, so make sure to take the necessary steps to protect your event with policies that can protect you from financial losses in the event of damages, liabilities, or cancellations. 

Why do I need insurance for my event?

We all know how much planning goes into a big event—from booking the venue to hiring vendors, selecting the perfect decor, and inviting all your guests. But what happens when something unexpected strikes and threatens to ruin your big day?

Picture this: it’s a beautiful summer day, and you’re all set to celebrate your wedding in a stunning outdoor setting. You’ve spent months planning every detail to ensure everything is perfect, but then an unforeseen storm hits. Suddenly, your venue is flooded, and all your guests are forced to take shelter indoors. You’re left wondering what to do, and your dreams of a beautiful outdoor wedding are shattered.

Unfortunately, this scenario is not far-fetched. It’s essential to recognize that no matter how well you plan, the unexpected can happen, and that’s where event insurance comes in. Whether you’re hosting a wedding, family reunion, or company party, you want to ensure that your big day is secure.

So, why do you need event insurance? The answer is simple: peace of mind. You don’t want to be left dealing with unforeseen costs or worrying about the what-ifs, and finding the right policy can give you the confidence to enjoy your big day, knowing that you’re protected no matter what happens.

Types of insurance for large events

When you’re planning a large event like a summer wedding, family reunion, or company party, you’re likely focused on all the exciting details. But just as important is determining what insurance policies you may need to protect all your hard work and ensure a great time, no matter what happens. Whether it’s a cancellation due to weather or an accident during the event, having the right insurance coverage can provide peace of mind and protect you from unforeseen costs.

So, what types of insurance should you consider for your summer celebration? Here are a few options:

Liability insurance

Liability insurance is a type of insurance that provides coverage in case someone is injured or their property is damaged during the event. This can include things like slips and falls, accidents involving rental equipment, or damage to the venue. Liability insurance can also cover legal fees if someone decides to sue you over an incident that occurred during the event.

Property insurance

Property insurance covers damage or loss to your property or rental equipment that you’re using for the event. This can include things like tables, chairs, tents, or sound equipment.

Cancellation insurance

If you’re planning an outdoor event, it’s important to consider the possibility of weather-related cancellations. Cancellation insurance can provide coverage if you have to cancel or postpone the event due to weather conditions, natural disasters, or other unexpected events.

Event-specific insurance

Depending on the type of event you’re planning, there may be specialized insurance options available. For example, if you’re hosting a wedding, you may want to consider wedding insurance, which can provide coverage for things like vendor no-shows, damaged attire, or lost wedding rings.

In addition to the types of insurance mentioned above, there are a few other considerations to keep in mind. For example, if your group is traveling to a destination for the event, you may want to consider travel insurance, which can provide coverage for things like lost luggage, flight cancellations, or medical emergencies while you’re away from home. Or, if your big gig includes collectibles, aircraft or watercraft, you may want to ensure that those policies cover all your “what ifs,” as well. 

How do I cover my next big event?

While these are some common types of coverage, each policy and each person’s needs are different. Not only will you need to fully understand all the details of the event itself, but you’ll also want to carefully review policy terms and coverage limits to make sure that you have adequate coverage in case of an unexpected incident, as well as any exclusions or limitations in the policy. (For example, many insurance policies may not cover intentional acts or injuries resulting from alcohol or drug use, which can be a big gap when planning a big event!) 

This is where having a trusted insurance broker like Penny Insurance can make all the difference. 

At Penny Insurance, we provide advice, accessibility, and time to our clients. We help simplify the complex and make clear recommendations based on the best carriers and policies for our client’s needs so they can have peace of mind on their big day.

Regardless of what your event is shaping up like, it’s important to carefully consider your options and select the coverage that best fits your needs, and the best way to do that is to talk to a licensed insurance agent, who can help you get a better understanding of what types of insurance are available and which ones you need to consider for your summer celebration. With the right coverage, you can enjoy your event knowing that you’re protected from unexpected costs and liabilities.

With the right coverage, you can rest easy, knowing that your big event is protected from whatever comes your way. If you’d like help exploring your options, contact us to schedule a consultation or get a quote for any of your insurance needs.