In this article, we’ll cover event cancellation insurance by answering some of the most common questions.
What is event cancellation insurance?
Event cancellation insurance is a type of insurance that protects the event organizer against financial loss in the event of an unexpected event, such as a natural disaster.
This type of coverage can be purchased by the organizer or by a third-party insurer. The amount that can be recovered depends on the terms and conditions of the contract.
The costs associated with this type of insurance depend on many factors, including what kind of protection is offered and how much risk is involved in hosting an event.
Why event cancellation insurance is important?
The main reason why event organizers should purchase this type of insurance is that it can help them to avoid financial losses in case their event needs to be cancelled due to unforeseen circumstances.
Planning an event can take a long time and result in substantial costs. An event insurance policy protects your business from the financial impacts of dealing with a disaster or unexpected setback. Bring about peace of mind for a fraction of the cost!
Frequently Asked Questions
What’s the best event cancellation insurance company?
Simply Elegant has used PAL Insurance Brokers Canada Ltd. for event cancellation insurance coverage for years. PAL is located in Calgary, AB, Simcoe, ON and Montreal, QC. Check their profile here. We’ve been happy with PAL historically but please note that Simply Elegant is not responsible for any losses that may occur dealing with PAL in the future.
What types of events should get event cancellation insurance coverage?
PAL offers over 100 different types of event coverage including outdoor festivals, trade shows, sporting events, conferences, film shoots, concerts and carnivals. Plus PAL has corporate event coverage too.
Does event insurance cover cancellation?
Yes, event cancellation is one of the primary reasons for getting event cancellation insurance.
How much is event cancellation insurance?
The cost for event cancellation insurance varies depending on the size and location of the event, as well as the coverage you need.
Is there such a thing as wedding event cancellation insurance?
Yes, there is. In fact, many couples and wedding planners use wedding cancellation insurance to minimize the risk of financial loss due to unforeseen circumstances that may postpone or cancel a wedding.