What is special event insurance?

If a business invites employees to an event that differs from its day-to-day operations, it could benefit from special event insurance. Certain venues may even require it. This policy can help small businesses pay for unanticipated costs related to the event, such as an injury or venue cancellation fees.

Small businesses can add special event insurance to a general liability policy. It could be one-day insurance for an event shorter than 24 hours, or insurance for an event that lasts several days. Read more about special event coverage.

Nonprofits depend on fundraisers such as walkathons, bake sales, dinners, and galas. However, these events can be a huge liability. A polar plunge participant could develop hypothermia and file a lawsuit, or a nonprofit might have to pay cancellation fees when bad weather forces a change of plans. Special event insurance protects your nonprofit by making sure you don’t lose money after a mishap or canceled event.

Special event insurance usually excludes communicable disease coverage. However, some policies have loss of deposit and event postponement coverage that could be triggered regardless of the reason for cancellation or postponement.

Read more about coronavirus and special event insurance.

If you’re a small business or organization that needs special event coverage, you may be able to add it to your general liability policy. To compare general liability insurance quotes from top-rated providers, fill out Insureon’s free online application.