Special Event Insurance
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Special event insurance cost

The cost of special event insurance varies based on a number of factors. Your premium is directly impacted by the type of event being held, coverage limits, your industry, and more.

What is the average cost of special event insurance?

Special event insurance costs are determined by several factors, including industry risks, the type of event, and its duration. On average, small businesses pay a premium of $250 to $285 for special event liability insurance.

This amount is paid upfront and many times special event coverage can be added to your general liability insurance policy. You can also include additional insureds on your special event insurance policy, such as the event venue.

Our figures are sourced from the median cost of policies purchased by Insureon customers from leading insurance companies. The median offers a better estimate of what your business is likely to pay because it excludes outlier high and low premiums.

Typical special event insurance costs for Insureon customers

Insureon's small business customers pay an average of $278 for one-day special event insurance coverage, while a policy duration of 2 to 10 days has an average cost of $250. Events that run longer than 10 days cost an average of $282 to insure.

The exact cost will vary depending on your risks and other key factors.

Chart: Average special event insurance premiums by policy duration

Understanding special event insurance cost factors

Insurance companies consider several factors when determining how much to charge for special event coverage, including:

  • Industry risks
  • Policy limits
  • Type of event (e.g., reception, sporting event, birthday party, trade show, etc.)
  • Venue location
  • Number of people attending the event
  • Coverage options, such as liquor liability or event cancellation insurance

How does your industry impact the cost of special event insurance?

Our analysis of special event insurance costs reveals that for small businesses, your industry has the biggest impact on your premium. Generally, insurance carriers charge higher risk industries higher premiums, while lower risk industries enjoy lower rates.

For example, food and beverage professionals, such as caterers and restaurant owners, are exposed to more risks than construction contractors or advertising agencies. For example, an intoxicated guest at a class reunion hosted by a restaurant could cause accidental property damage.

The graph below illustrates how your type of business affects what you'll pay for a special event insurance policy.

Chart: Average special event insurance premiums by industry

How do coverage limits affect special event insurance costs?

If you want car insurance that pays for more expensive damages, you have to pay more for it. The same rule applies to business insurance. If you want a policy with higher liability limits, expect to pay more than you would for basic coverage.

The most popular special event policy among Insureon customers is the $1 million / $2 million policy. This includes:

  • $1 million per-occurrence limit. While the policy is active, the insurer will pay up to $1 million to cover any single claim.
  • $2 million aggregate limit. During the policy’s lifetime, the insurer will pay up to $2 million to cover claims.

Special event insurance provides necessary protection for your business event

Special event insurance is a must-have for small businesses that hold events that differ from their day-to-day operations. This includes holiday parties, networking events, employee retreats, and fundraisers.

Even if you've done all the necessary preparation for your event, there are always risks that are out of your control, such as third-party bodily injuries and property damage, or cancellations due to extreme weather or scheduling issues.

These unexpected liabilities can get expensive, and you might find yourself having to pay for legal defense costs, medical expenses, and cancellation fees.

Special event insurance covers all of these costs, often including cancellation coverage and liquor liability coverage. Not only will this policy offer you peace of mind, it could very well save your business from bankruptcy.

How can you save money on special event insurance?

It's possible to reduce your special event insurance premium through a couple simple steps:

Shop around

Insurance companies offer a range of special event premiums and coverages. Compare quotes from different carriers with Insureon's easy online application.

Keep continuous coverage

When getting special event coverage, you have the flexibility to choose your policy duration. For example, wedding photographers may opt for one-day event insurance for the "big day" or companies with events centered around the holidays may get seasonal insurance.

While these types of coverages provide savings in the short term, most small businesses benefit from investing in continuous coverage.

Choosing continuous insurance that includes key policies for your small business is often less expensive in the long term, as you'll be covered for lawsuits that could happen at any time. Because there aren’t any gaps in your coverage, your business is always protected against third-party claims. It also won't jeopardize your ability to keep business licenses that require insurance.

Why do small business owners choose Insureon?

Insureon is the #1 independent agency for online delivery of small business insurance. We help business owners compare quotes from top-rated providers, buy business insurance policies, and manage coverage online.

By completing Insureon’s easy online application today, you can get free quotes for special event liability coverage from top-rated U.S. insurance companies.

Our licensed insurance agents are here to help with any questions you may have along the way, such as whether your policy includes event cancellation coverage or how host liquor liability insurance differs from liquor liability insurance.

Once you find the right liability policies for your small business, you can begin coverage in less than 24 hours and get a certificate of insurance (COI) for your small business.

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Learn more about business insurance costs

Insurance premiums vary based on the policies a business buys. See our small business insurance cost overview or explore costs for a specific type of coverage.

Updated: November 3, 2023

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