Top 5 Risks in the Event Planning Industry

While you should strive to account for every contingency when planning an event, some things are simply out of your control. From travel disruptions to uncooperative weather, there are many risks associated with special events that you must address. 

Luckily, you can get insurance coverage to protect you from just about any potential risk that arises when planning a major event. 

What to Know About Risks Associated With Special Events

Whether you are an individual planning a wedding or an insurance agent or broker, consider these potential risks when seeking your insurance coverage partner.

1) Alcohol-Related Incidents 

While everyone loves to have a good time at events like concerts and weddings, serving alcohol can add risks. These could include personal injury, property damage, and more.

Alcohol consumption always poses more risks for event hosts. Be sure that your provider offers host liquor liability coverage if you choose to serve alcohol at your event. Host liquor liability coverage can provide protection from alcohol-related problems that might arise. 

When it comes to venues and coverage, laws and requirements vary from state to state. Our company serves all 50 states and can customize a policy for your needs.

2) Travel Risks  

From airline shutdowns to unexpected weather problems, there are many reasons why traveling can impact an event. This is particularly true for events such as destination weddings and overnight events. 

No matter how well-planned your event might be, there is always the chance you might have to cancel due to circumstances that are out of your control. When you purchase the appropriate coverage, you will protect yourself if key attendees are held up during travel and unable to make it. 

Have questions about cancellation insurance? We’re here to assist you. We invite you to speak with a member of our team to discuss your event. Contact Event Insurance Now.

3) Damaged Property  

Whenever you get a large crowd together at a venue, there is a chance that some type of property damage can occur. Whether you rent a public space like a park or a private venue like a concert hall, you need to be sure you’re covered. 

Commercial General Liability Insurance (CGL) is often required by venues before you are even allowed to book them. With this coverage, buildings, structures, and property grounds will be protected from any unforeseen damage that might occur due to guests or employees. 

4) Medical Emergencies   

Always plan for medical emergencies. In certain circumstances, weather-related issues like extreme heat might cause unforeseen issues. Other events, such as sports camps, can increase the risk of medical emergencies due to the intense physical activity of guests. 

Whether you are hosting a wedding or organizing a sports camp, you need complete coverage. Having a good insurance plan in place will keep you protected in the event someone is injured at your event—including guests, volunteers, and employees. 

5) Weather-Related Event Risks  

When everything aligns perfectly, nothing beats the charm of an outdoor concert, wedding, or sports camp. However, as we all know, planning a major event outdoors also poses weather-related risks. 

Cancellation coverage is always a great idea if you are planning an outdoor event. If you need to cancel for a weather-related issue, you will get all of your deposits back and have the resources you need to reschedule. Please note, event cancellation coverage is purchased separately from Commercial General Liability Insurance. 

Have questions about cancellation insurance? Please reach out to one of our knowledgeable and helpful agents today.

Event Insurance Now has a large network of insurance and cancellation coverage carriers in different markets. Brokers and agents come to us for policies that they are unable to write on their own. Our agent and broker sign-up can be found here. 

Contact Us Today to Receive Event Insurance Instantly

When planning an event, it’s always a good idea to consider any contingency that might arise. That being said, it’s very important to purchase quality coverage early in the event planning process. After that, you will have clear parameters to work within for mitigating risk at your event. 

Contact us today to discuss your event and we’ll develop an insurance package for your event’s unique needs.