What Is Event Cancellation Insurance?
Event cancellation insurance is a specialist policy that protects event organisers, businesses, and individuals from financial losses if an event is cancelled, postponed, or rescheduled due to unforeseen circumstances. These policies help cover costs such as venue hire, supplier contracts, ticket refunds, and advertising expenses.
Who Needs Event Cancellation Insurance?
- Concert and festival organisers looking to protect against weather-related cancellations.
- Corporate event planners managing conferences, trade shows, and networking events.
- Wedding and private event hosts ensuring protection against supplier failures or venue closures.
- Sports event organisers safeguarding against cancellations due to safety concerns.
- Charities and fundraisers securing their investments in fundraising events.
What Does Event Cancellation Insurance Cover?
- Cancellation and postponement due to unforeseen events beyond the organiser’s control.
- Adverse weather conditions affecting outdoor events.
- Non-appearance of key individuals, including performers, speakers, or special guests.
- Terrorism and security risks leading to event disruption.
- Unforeseen circumstances, such as power failures, venue damage, or pandemics (subject to policy terms).
Some policies offer additional coverage options, including:
- Public liability insurance to cover injury or property damage at the event.
- Equipment and property cover for sound systems, lighting, and event décor.
- Employer’s liability insurance to protect staff and volunteers.
How Much Does Event Cancellation Insurance Cost?
The cost of event cancellation insurance depends on several factors, including:
- Event size and budget – Large-scale festivals will have higher premiums than small private events.
- Risk factors – Outdoor events may cost more due to weather risks.
- Location and duration – International events may require extended coverage.
Estimated Costs
- Small wedding (£10,000 budget): £100 – £300
- Corporate conference (£50,000 budget): £500 – £1,500
- Music festival (£500,000 budget): £5,000 – £15,000
Best Event Cancellation Insurance Providers in the UK
- Hiscox Insurance – Covers festivals, conferences, and corporate events.
- Event Insurance Services – Specialises in weddings, concerts, and charity events.
- Lloyd’s of London Brokers – Custom policies for large-scale and international events.
- Marsh Commercial – Offers event liability and cancellation packages.
Why Choose Fraser Bond for Insurance Advice?
Fraser Bond helps clients find the best event cancellation insurance by:
- Comparing top insurers to secure the most comprehensive coverage.
- Assessing risk factors to help reduce premiums.
- Guiding you through claims in case of cancellations or disruptions.
Final Thoughts
Planning an event involves significant financial investment. With event cancellation insurance, you can protect yourself from unexpected disruptions, ensuring that your event runs smoothly or that you recover your costs if things go wrong.
For expert advice on securing the right coverage, contact Fraser Bond today.
