Event Liability Insurance

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Event Liability Insurance​

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What is Event Liability Insurance

Event insurance is a type of insurance policy that covers the risk of financial loss in activities like music concerts, weddings, sports, business events, etc. These activities require a lot of money to plan & organize. Any disruption can lead to substantial monetary losses to the organizer. An event insurance policy can provide comprehensive protection if the event is abruptly canceled or postponed or if any untoward incidents occur during the course.
Understand Event Insurance

What are the Types of Event Insurance?

Every event is unique and different. There are various types of event insurance policies to protect policyholders from different risk factors.

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Event Liability Insurance

An event liability insurance policy protects you against third-party claims arising from accidents or other unfortunate incidents. Any injury, loss, or damage to third-party life & property will be covered by this policy.

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Event Property Insurance

This policy covers the risk of loss or damage to properties such as sets, lighting, props, and other equipment used in the events. The policy shall reimburse the cost of repair or replacement of properties due to theft or accidents.

Last-minute cancellations of events can occur due to factors beyond your control. The star performer of the event may drop out. Weather can play the spoilsport. Sudden power outages can disrupt the event. The event cancellation insurance covers the loss in all such situations.

Who Needs an Event Insurance Policy?

Anybody who organizes events like seminars, conferences, concerts, sports, weddings, or other private ceremonies will benefit from event insurance. Any of the following entities can buy an event insurance policy:

Individuals for their personal or household events. E.g., wedding

Corporate houses and business owners

Event managers & planners

Organisers of sporting events

Trade fairs & exhibitions

Theatre events & fashion shows

Common Risk Factors for Event Insurance

Some of the common risk factors in buying an event insurance policy are as follows:

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Cancelation or Postponement

Abrupt cancelation or postponement of events

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Accidents

Accidents causing injury, loss, or damage to third-party life and property

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Theft or Damage

Theft or damage to properties used in the events

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Death or Disablement

A personal accident resulting in death or disablement

What Does Event Insurance Cover?

The major inclusions of special event insurance are as follows:

What is Not Covered Under Event liability Insurance?

Some of the major exclusions of event insurance are as follows:

How Can I Get Low-Cost Event Insurance Coverage?

The premium payable for an event insurance policy depends on several factors:

Type of event covered

Duration of event (1-day event liability insurance can be purchased for single-day events)

Location of the event

Total expenditure for the event

Number of people attending the event

Use of hazardous materials in the event

Prominent Insurance Brokers offers high-quality insurance products at affordable premiums. We offer both multi-event and single-event insurance coverage that is tailor-made to your requirements.

Why Do You Need to Choose Prominent Insurance Brokers to Buy Event Liability Insurance?

Prominent Insurance Brokers offer the following benefits when you buy an event insurance policy

A top insurance broker in UAE with a track record of 20+ years in the insurance sector

Offers comprehensive event insurance coverage designed to cover your specific requirements

Over 5,000 business insurance policies sold and 6,000+ claims settled successfully

Significant savings to policyholders due to attractive discounts on premiums and other value-added services

A professional team of experts to help you choose the best policy.

Fast settlement of claims through a dedicated claims management team

Partnerships with leading insurance companies in UAE

Frequently Asked Questions About Event Liability Insurance

Event liability insurance is required because most venues that agree to host events insist that their clients get this insurance coverage. The policy is also imperative because many vendors do not agree to refunds if the event is abruptly canceled or postponed.

Yes. Homeowner’s insurance shall compensate the loss only if the function takes place at your home. You also have no recourse to insurance if the event is canceled. But wedding event insurance can cover the loss if the event is organized elsewhere and/or gets canceled.

A liquor liability insurance policy is required if you sell, serve, or distribute alcohol in any form at your events. This policy can cover the loss or damage caused by intoxicated Visitors at the events.

It is advisable to get event insurance as soon as you start organizing the event and begin to pay the deposits to your vendors.

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Disclaimer: It is important to carefully review policy documents to understand the terms and conditions that apply to the policy & make sure that it meets your specific needs and requirements.