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Benefits of insuring your event early

Ok, so you’ve settled on your Event’s name, you’ve decided on the great location, the speaker programme has been outlined and you are now thinking about marketing … It’s an exciting time but the never ending ‘to do list’ from your event management plan is growing. What about insurance?......Oh, hold on a minute there it is, in small boring print right at the bottom of your list (probably with ZZZZ’s doodled next to it)…… insurance…..!!!

Event insurance

Not the most exhilarating topic I grant you, but, it could be crucial. It could save your event; your reputation; your livelihood.

“Yes, but it will take ages to arrange, time I haven’t got!” I hear you cry. No, with the aid of a specialist insurance broker helping you through the process you could have a quote and cover in place in not much more time that it takes to read this article.

So, when should Organisers and PCO’s arrange this important insurance? Well, considering the time and money it takes to plan an event and the negative affect event a partial loss can have to your bottom line the answer is as soon as you book the venue and commit to handing over your hard-earned cash. This is when you are first at risk of a financial loss.

Full cancellation leading up to the event is the largest exposure

Imagine the venue burns to the ground or the roof starts to leak or the heating breaks down or the air conditioning packs up or, or, or, – the list is infinite.

Even if the loss occurs when you still have time to move the event, you have sent all your marketing literature out with the original venues name, allocated most of your stand space, you may have sold a significant number of tickets and organised hotels.

To save the event you will incur the huge cost and without cancellation cover in force, you would be considerably out of pocket.

OK I get it. I must buy Cancellation insurance but surely buying early will cost me more and my cash flow will not warrant such costs”?

You say. Actually, no, not at all, the cost to insure your event 12 or 6 months’ prior to the build-up period is exactly the same as it is 6 days prior.

Insuring early means you get better value for your money. If you insure 12 months in advance, we could even set up an instalment plan to help with cash flow!

Can you afford not to insure your event early?

Benefits of insuring your event early

Event insurance

Full cancellation leading up to the event is the largest exposure

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